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Market Average Long/Short
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This indicator calculates and visualizes the average prices of long and short positions based on Open Interest (OI) and volume data. It is specifically designed for futures markets to provide deeper insights into market participant behavior.
How It Works:
Open Interest: Tracks changes to identify whether new positions are being added or existing positions are being closed.
Average Long Price: Represents the weighted average price of all long positions currently open in the market.
Average Short Price: Represents the weighted average price of all short positions currently open in the market.
Excludes Closed Volume: Focuses only on new positions (open volume) for accurate long/short average price calculations.
Features:
Plots the Average Long and Short Prices:
Green Line: Average Long Price.
Red Line: Average Short Price.
Dynamic Labels: Displays the current values of average long and short prices directly on the chart.
Error Handling: Alerts you if Open Interest data is unavailable for the selected symbol.
Use Cases:
Market Sentiment Analysis:
Rising average long price: Indicates longs are entering at higher prices (bullish sentiment).
Falling average short price: Indicates shorts are entering at lower prices (bearish sentiment).
Support/Resistance Levels:
Use average long/short prices as potential support and resistance zones, as they represent key levels for market participants.
Tracking Market Behavior:
Identify whether money is flowing into or out of the market based on changes in Open Interest.
Best Used For:
Futures trading on instruments with reliable Open Interest (OI) data.
Analyzing trend continuation or reversal by observing shifts in average long/short price levels.
Parameters:
Override Symbol: Allows you to manually input a symbol for analysis. Otherwise, it defaults to the current chart's symbol.
Pro Tip: Combine this indicator with volume and price action analysis to spot key market turning points or confirm existing trends.
How It Works:
Open Interest: Tracks changes to identify whether new positions are being added or existing positions are being closed.
Average Long Price: Represents the weighted average price of all long positions currently open in the market.
Average Short Price: Represents the weighted average price of all short positions currently open in the market.
Excludes Closed Volume: Focuses only on new positions (open volume) for accurate long/short average price calculations.
Features:
Plots the Average Long and Short Prices:
Green Line: Average Long Price.
Red Line: Average Short Price.
Dynamic Labels: Displays the current values of average long and short prices directly on the chart.
Error Handling: Alerts you if Open Interest data is unavailable for the selected symbol.
Use Cases:
Market Sentiment Analysis:
Rising average long price: Indicates longs are entering at higher prices (bullish sentiment).
Falling average short price: Indicates shorts are entering at lower prices (bearish sentiment).
Support/Resistance Levels:
Use average long/short prices as potential support and resistance zones, as they represent key levels for market participants.
Tracking Market Behavior:
Identify whether money is flowing into or out of the market based on changes in Open Interest.
Best Used For:
Futures trading on instruments with reliable Open Interest (OI) data.
Analyzing trend continuation or reversal by observing shifts in average long/short price levels.
Parameters:
Override Symbol: Allows you to manually input a symbol for analysis. Otherwise, it defaults to the current chart's symbol.
Pro Tip: Combine this indicator with volume and price action analysis to spot key market turning points or confirm existing trends.
Nota Keluaran
Key Changes:Removed Override Symbol Input:
The overwriteSymbolInput and tickerInput variables were removed.
The symbol is now always derived from syminfo.ticker directly.
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