Open Interest

[Helenqu]

Hi all,

Does anyone use this as part of their normal set up? I've been looking at it on 10 min STOXX charts today and re-reading the JJM section on it. But I keep asking people and I can't find anyone who seems to use it for trading.

So I'd love to know if you tried it, use it, hate it , anything in fact 🙂



Cheers

 

[Splurge]

Hi Helen - sorry never used it 🙂

 

[options]

Hi Helen,
Yes, I occasionally use open interest.
If you reference a spike with a high or low bar, it can give confirmation of a change of direction.
Pity it is not colour coded on sierra charts or you could make more use of it, and at present is not a very good indicator of that direction. (sorry to be so ambiguous)
A much better indicator is the true volume indicator.

Options.