Open Interest Approximation

[Apprentice]

As shown by a comparative chart
Open Interest Approximation, and COT, have a high degree of correlation.
U can use Open Interest Approximation for istruments in cases where Open Interest or and COT are unavailable.

OIA.bin

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[nsaale]

how does this indicator work? should one buy when it is increasing and sell when it i s decreasing?

Again do negative and positive values indicate regions?

[Apprentice]

Open Interest, COT will give you information about the current positions, Long /Short Ratio, for observed Traders/investors.
A positive/negativ value, the change in slope can provide a trade signal.
This type of indicators will not have classical Overbought / Oversold zones.

Positive
Long positions prevail.
Negative
Short positions prevail.

Changes are gradual, slope alone can give early indication.

You can interpret the ratio as Tide, and Slope as Wave.

[Apprentice]

Indicator was revised and updated.