Open Interest is a custom trading indicator that displays the total volume of all the opened positions by traders in the financial market. It represents the opened Orders (BUY and SELL trades) in the form of a graph.
This MT4/5 indicator (Open Interest) would come in handy to help you make informed trading entries or exits. In other words, the indicator gives you a visual display of the trading activities of other traders. This information is instrumental in identifying an optimal time and level to open a BUY or SELL position
Indicator Features
Indicator Panel Position - This parameter defines the location of the indicator’s panel on your chart.
Panel Initial Size - This shows the default state of the panel (minimize or maximized) at startup.
Indicator Window Size - This defines the indicator mode of display (fixed or floating window).
Limit Display Data - This defines the limit to the historical data to be displayed by the indicator.
Color Scheme - This parameter defines the color mode (dark and light) of the indicator.
Indicator Line Width - This defines the thickness of the indicator’s lines.
Data by Default - This parameter defines the default type of data (positions or Orders) to be displayed by the indicator.
Type by Default - This shows the Delta or value in lots by default.
Indicator installation
Download Link
1. Download and unzip the archive to the MQL4 folder of the terminal;
2. Restart the terminal and run the indicator;
3. Allow import of DLLs.
This MT4/5 indicator (Open Interest) would come in handy to help you make informed trading entries or exits. In other words, the indicator gives you a visual display of the trading activities of other traders. This information is instrumental in identifying an optimal time and level to open a BUY or SELL position
Indicator Features
- Select data type: This feature enables a user to easily navigate between different data types on the go. This implies that you can quickly select the desired data type right on your screen without going through the setting panel.
- Position: This feature displays all the opened positions. This allows you to see where the BUY and SELL entries of different traders are placed.
- Orders: This feature displays all the active pending orders of different traders.
- V (volume): This feature displays data in lots of sizes.
- Delta: This feature shows the difference between the past and the present value of open interest.
- Minimize the Panel: This feature is used to minimize the panel. It gives you quick access to the minimize button.
Settings
Indicator Panel Position - This parameter defines the location of the indicator’s panel on your chart.
Panel Initial Size - This shows the default state of the panel (minimize or maximized) at startup.
Indicator Window Size - This defines the indicator mode of display (fixed or floating window).
Limit Display Data - This defines the limit to the historical data to be displayed by the indicator.
Color Scheme - This parameter defines the color mode (dark and light) of the indicator.
Indicator Line Width - This defines the thickness of the indicator’s lines.
Data by Default - This parameter defines the default type of data (positions or Orders) to be displayed by the indicator.
Type by Default - This shows the Delta or value in lots by default.
Indicator installation
Download Link
1. Download and unzip the archive to the MQL4 folder of the terminal;
2. Restart the terminal and run the indicator;
3. Allow import of DLLs.