Open Interest Screener

Open Interest Screener

Traders often wonder: how do you enter a trend before it takes off — not at the very peak? Most classic technical indicators lag behind price. So what could you add to your system to catch a move earlier?

🔍 Enter the Open Interest Screener!

I've personally relied on this metric for years while trading crypto. It helps detect abnormal spikes in open interest — sudden increases in the number of outstanding derivative contracts — which often signal that something big is about to happen. These moments can mark the very start of a major trend.

🧠 How to use it:
Go long if price is rising and there's a spike in open interest on the way up.

Go short if price is falling and open interest rises during the decline.

Exit positions when open interest sharply drops — this may indicate the move is losing momentum.

⚙️ Settings & Customization:
Bars to look back — defines how far back the script looks to detect % changes in open interest.

OI % Change Threshold — adjust this to control sensitivity; higher = fewer, stronger signals.

Exchange source toggles — choose between BitMEX (USD/USDT) and Kraken data feeds.

Show Spike Zones — enable or disable visual highlights for detected spikes.

📌 Tips:
Configure the indicator for your preferred cryptocurrency pair and timeframe.

Visually validate that the OI spikes look meaningful and are not cluttering the chart.

Optimal settings vary by asset — take time to test and tune them for each coin.

With this tool, you're no longer guessing where the trend might begin — you're tracking the intent of market participants as it unfolds. Use it as part of a broader system and stay ahead of the herd.