OI + CVD Pivot Analysis (Advanced)

Overview

This indicator combines three key series—Price, Open Interest (OI) and Cumulative Volume Delta (CVD)—to spot and label high-probability market inflection points. It:

Detects pivots in Price using a look-back/look-forward “swing” algorithm with a user-tunable pivot length that automatically adapts to your chart’s timeframe.

Calculates OI direction as the day-over-day percentage change in the exchange’s reported OI for your symbol.

Computes CVD per bar via a close-open volume proxy (green bars = buys, red bars = sells), cumulatively summed.

Normalizes both OI and CVD to a 0–100 scale over the last N bars, so you can view all three series in one pane.

Classifies each confirmed pivot into one of eight “scenarios” based on whether Price, OI and CVD are rising or falling.

Plots large up/down triangle markers on the normalized OI curve at each pivot, labels them with a three-arrow code (e.g. “P↑O↑C↑”) and colors the label to match the scenario.

Highlights each pivot bar with a subtle background tint.

Raises alerts and can add bars to a watchlist whenever any of the eight scenarios occurs.

Displays a one-column legend table, with each scenario’s code, name and matching color.

Eight Scenarios & Interpretations

Code Meaning
P↑O↑C↑ Institutional support
P↑O↑C↓ Absorption / reversal
P↑O↓C↑ Short Squeeze Rally
P↑O↓C↓ Weak Rally
P↓O↓C↓ Capitulation
P↓O↓C↑ Bear Trap
P↓O↑C↓ Bearish Caution
P↓O↑C↑ Weak Decline

Inputs
Setting Description
Base Pivot Lookback Number of bars on each side to confirm a swing high/low (auto-scaled).
OI Average Length Period for moving average when computing % change in OI.
Delta Threshold (%) Minimum % move in OI/CVD (vs. their avg) to count as “up” or “down.”
Show Interpretation Table Toggles legend display on/off.
Scenario Colors Customize the fill color for each of the eight scenario labels and table rows.

How to Use
Add to any crypto chart (this indicator fetches daily OI, so intraday timeframes work best).

Adjust “Base Pivot Lookback” to control swing sensitivity: lower = more frequent pivots, higher = only major turns.

Watch for triangle markers on the OI curve—red triangles = pivot highs, green = pivot lows.

Read the three-arrow label to know the confirmation status of Price (P), OI (O) and CVD (C).

Use alerts to get notified when key scenarios occur—ideal for trend entries or spotting potential reversals.

Refer to the legend to remind yourself of each code’s meaning and color.

Tips & Considerations
Data quality: The CVD uses a simple close–open volume proxy. For the most precise delta, you may integrate an intrabar CVD calculation if your data provider allows.

Adaptive pivots: The indicator automatically halves the pivot lookback on fast charts (<1 hr) and doubles it on slow charts (>1 day).

Alerts: Each scenario has its own alert condition; you can create TradingView Alerts based on these to automate your watchlist.

Strategy ideas: Combine “P↑O↑C↑” entries with RSI >50 for extra confirmation, or treat “P↓O↓C↓” as a strong exit/short signal.