How to See Open Interest in TradingView

Open interest is a crucial metric in trading that represents the total number of outstanding contracts in a particular market. In TradingView, you can access open interest data to gauge market activity and liquidity. Here’s a step-by-step guide on how to view open interest on TradingView and utilize it for your trading decisions.

Understanding Open Interest
Open interest reflects the number of active contracts that are either long or short in a specific financial instrument. Unlike volume, which counts the number of trades executed, open interest measures the total number of contracts that have not yet been settled or closed. A rising open interest indicates that new money is coming into the market, suggesting a strong trend, while declining open interest might signal that the trend is losing momentum.

Viewing Open Interest on TradingView

1. Open TradingView: Start by opening the TradingView website or application on your device.

2. Select a Market: Choose the market or instrument for which you want to see the open interest data. This can be done by entering the name or symbol of the asset in the search bar.

3. Add a Chart: Click on the “Chart” option to open a detailed chart of the selected instrument.

4. Access Indicators: Once the chart is open, look for the “Indicators” button at the top of the chart area. This is usually represented by a “fx” icon or a similar symbol.

5. Search for Open Interest: In the indicators search bar, type “Open Interest” to find available indicators related to open interest. TradingView provides various indicators that can display open interest, including those from third-party developers.

6. Add the Indicator: Select an appropriate open interest indicator from the search results and add it to your chart. The indicator will appear as a separate panel below the price chart.

7. Adjust Settings: Customize the indicator settings if necessary to better fit your analysis. This can include changing the display style, adjusting the time frame, or applying different technical analysis overlays.

Using Open Interest Data

• Market Sentiment: Analyze the open interest to understand market sentiment. Increasing open interest along with rising prices may indicate a strong bullish trend, while increasing open interest with falling prices could signal bearish sentiment.

• Volume Comparison: Compare open interest with trading volume to get a clearer picture of market activity. High volume with increasing open interest suggests strong trends, whereas high volume with decreasing open interest might imply market exhaustion.

• Trend Confirmation: Use open interest as a confirmation tool for your trading strategy. For instance, if you are following a trend-based strategy, rising open interest in the direction of the trend can strengthen your trading signal.

Example Table of Open Interest Analysis

Date	Instrument	Price	Open Interest	Volume
2024-08-01	AAPL	$175	10,000	500,000
2024-08-02	AAPL	$177	10,500	550,000
2024-08-03	AAPL	$179	11,000	600,000
2024-08-04	AAPL	$180	10,800	580,000

In the example table, you can observe how open interest changes over time in relation to price and volume. An increasing open interest alongside rising prices and volume indicates a strong upward trend, while fluctuations in open interest may provide insights into potential trend reversals.

Conclusion
Viewing and analyzing open interest on TradingView can provide valuable insights into market trends and liquidity. By following the steps above, you can effectively utilize open interest data to enhance your trading strategy and make more informed decisions.