Open Interest the right way When the open interest increases both new short and new long are opened. Tradingview data is very limited. It is an approximation
How it works if the open interest increases more than OI volume trigger (eg. 5 millions on the 5 minutes timeframe), we are creating a box. The gradient of the box changes when there is multiple opening in the same price area.
Snipper Boxes are for the candles. The lines are for the new long and short open in a minute timeframe. They are more precise and liquidity hunt happens often but there is a limitation on the number displayed.
wow i just found settings thats works almost 100% 5 min scalp on btcusdt.p .if the developer is interested i will share with pleasure , maybe it can help for future updates and thanks for sharing great indicator
cryptant
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@GKLanselot2, good to hear! it is surprisingly precise sometimes. feel free to share and I might even set it as default values for 5 minutes
hipes96744
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Can someone explain what boxes show? It's when OI goes up on a candle?
cryptant
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@hipes96744, if a candles has more than 5 millions open interest opened, it creates boxes for the liquidation levels 100x and 50x in both direction. 100x is brighter than 50x. Boxes are merges together over time. the brighter is gets, the more liquidations there might be.