Open interest

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Open interest

over 24 candles · below -10 %

• Open interest
• Change %
• falling
• rising

This is how the node looks on the board. It has no inputs; on the right its values go to other nodes.

Like the players at the table: open interest counts how many bets in the futures market are open right now. When it rises, new players sit down; when it falls, some get up, by choice or not.

Open positions in the futures market. Counts the open positions in the futures market on the coin of the chain’s first candle, in coins, and works out by how many percent they have changed over a few candles. When open interest rises with the price, new money is joining the trend; when the price rises while open interest falls, mostly shorts are closing. A fast rise means many new positions on margin, and a sudden steep drop often means positions were closed by force. Example: “rising” above 10 % over 24 candles with AND and a price that barely moves reports pressure building up.

What it looks like

• Price (close of each candle)
• open interest and change
• below −5 % and above 5 %

Top: the BTC/USDT price; below: the open positions in the perpetual contract on BTC in coins and their change against the value 24 hourly candles earlier. Here with “Falling below −5 %” and “Rising above 5 %”. Open interest often rises while positions build up before a big move, and falls when many are closed afterwards.

Setting it in the chart

In the properties, a chart shows the last 150 candles with the zone between Low and High. Drag a limit or type the numbers; a limit that comes from another node can’t be dragged. The top line shows how many candles lie inside the range and how often the condition would be met.

More under Chart above the price.

Settings

The settings appear on the right under “Properties” once you click the node on the board. Below each field you find the same explanation as here.

Candles back

Default: 24 · from 1 to 500, whole number

How many candles back the change compares with. 24 candles of 1 hour are one day.

Falling below

Default: -10 % · from -100 to 1,000 %

When the change is below this, “falling” is true. −10 % in a day means many positions were closed, often by force.

Rising above

Default: 10 % · from -100 to 1,000 %

When the change is above this, “rising” is true. +10 % in a day is a lot for BTC; small coins swing more.

Example

A simple example with this node.

How to connect the nodes:

1. Open interest (falling) → Telegram (Trigger)

On the board it reads: over 24 candles · below -10 %

Chain as JSON

To try it, copy it and paste it in the editor under “Import”. Importing creates a new chain.

open-interest.json

{
  "name": "Example: Open interest",
  "version": 1,
  "nodes": [
    { "id": "x1", "type": "core.open-interest", "position": { "x": 40, "y": 40 }, "settings": {} },
    { "id": "t1", "type": "core.telegram", "position": { "x": 260, "y": 40 }, "settings": {} }
  ],
  "edges": [
    { "from": "x1.low", "to": "t1.in" }
  ]
}

Inputs and outputs

Only matching types connect: number series to number series (round pin), signal to signal (square), message to message (diamond).

Direction	Pin	Type	Note
Input	–	–	No inputs: the data comes straight from the source.
Output	Open interest	Number series	–
Output	Change %	Number series	in percent
Output	falling	Signal (true/false)	–
Output	rising	Signal (true/false)	–

Good to know

• In messages the values are called “Open Interest”, “OI change 24”.
• Warm-up with the default settings: 24 candles (this many extra candles are loaded by the replay before the value is reliable).
• Search also finds it under: open interest, oi, open positions, perpetual, futures, derivatives, leverage, liquidation, short squeeze.

Technical details

Open interest of the USDT perpetual on the coin of the chain’s first candle, from one of the largest futures markets, in coins (contracts on 1,000 coins converted). Values every 5 minutes for candles up to 5 minutes, at 15 and 30 minutes in step with the candle, otherwise hourly; at a candle the last value at least 1 minute before its close applies, at most three values old. Change as in Change %: difference from the value N candles ago, divided by it, times 100.

• Type in the chain: core.open-interest · Version 1.0.0 · Category key src
• Settings in the chain: length (Candles back), low (Falling below), high (Rising above)
• Pins in the chain: Output oi, change, low, high
• Source: Open interest from the futures market, loaded by the engine
• Reference tests in the manifest: 1 (with fixed price data: 500 candles of 1h)
• How a node is built