Investor/RT Tour - On Balance Open Interest

Investor/RT Tour ( more on Technical Indicators )
On Balance Open Interest

The Formula . . .	. . .more on Formulas
SUM{OI+, Period} - SUM{OI-, Period} ; where OI+ is the open interest on up days (close higher than previous close)

The Presentation . . .	. . . more on Charts
Above is a Daily Line Chart of a British Pound Future (BP1600). The bold green line in the lower window pane represents the On Balance Open Interest line based on the preferences below.

The Preferences . . .	. . . more on Preferences

Period - Number of periods over which to sum up and down open interest. Line Color - Color of the OBOI line in the chart.

The Description . . .
The On Balance Open Interest for an n-day period is defined as the sum of all Open Interest for up days minus all Open Interest for down days. An up day is one where the price closed higher or the same as the previous day. The On Balance Open Interest study calculates the n-day Open Interest for each day and charts it as a line which can oscillate around the zero line.