OPEN-SOURCE SCRIPT

Open Interest RSI Indicator

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## Open Interest RSI Indicator

This indicator displays the Relative Strength Index (RSI) calculated from aggregated Open Interest (OI) data from multiple exchanges. It helps traders identify potential overbought or oversold conditions in the market based on OI momentum.

**Features:**

* **Aggregated Open Interest:** Combines OI data from Binance (USDT.P, USD.P, BUSD.P), BitMEX (USD.P, USDT.P), and Kraken (USD.P).
* **Customizable RSI:**
* Adjustable RSI period.
* Configurable overbought and oversold levels.
* Optional signal line with adjustable period.
* Option to display overbought/oversold bands.
* Option to show RSI/Signal line crossover signals.
* **Data Source Selection:** Toggle individual data sources on or off.
* **Quote Currency:** Display OI values in USD or COIN.
* **Optional OI EMA:** Display an Exponential Moving Average of the aggregated Open Interest.
* **Visual Cues:**
* Color-coded RSI line based on whether it's above or below 50.
* Background highlighting for overbought and oversold zones.
* Table display for the current OI RSI value.

**How to Use:**

1. Add the indicator to your chart.
2. In the indicator settings:
* Select the desired data sources under "Data Sources and Aggregation".
* Configure RSI parameters under "RSI Settings" (period, OB/OS levels, signal line, etc.).
* Choose the "Quote Currency" under "General".
* Optionally, enable and configure the "OI EMA" under "Additional Settings".
3. Observe the OI RSI line. Values above the overbought level (default 70) may suggest the market is overextended to the upside. Values below the oversold level (default 30) may suggest the market is overextended to the downside.
4. Look for divergences between OI RSI and price, as well as crossovers with the signal line (if enabled), for potential trading signals.

**Disclaimer:** This indicator is for informational purposes only and should not be considered financial advice. Always use risk management and combine with other analysis techniques.

Penafian

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