LB | SB | OH | OL (Auto Futures OI)

This indicator is for trading purposes, particularly in futures markets given the inclusion of open interest (OI) data.

Indicator Name and Overlay: The indicator is named "LB | SB | OH | OL" and is set to overlay on the price chart (overlay=true).

Override Symbol Input: Users can input a symbol to override the default symbol for analysis.

Open Interest Data Retrieval: It retrieves open interest data for the specified symbol and time frame. If no data is found, it generates a runtime error.

Dashboard Configuration: Users can choose to display a dashboard either at the top right, bottom right, or bottom left of the chart.

Calculations:

It calculates the percentage change in open interest (oi_change).
It calculates the percentage change in price compared to the previous day's close (price_change).
Build Up Conditions:

Long Build Up: When there's a significant increase in open interest (OIChange threshold) and price rises (PriceChange threshold).
Short Build Up: When there's a significant increase in open interest (OIChange threshold) and price falls (PriceChange threshold).
Display Table:

It creates a table on the chart showing the build-up conditions, open interest change percentage, and price change percentage.
Labeling:

It allows for the labeling of buy and sell conditions based on price movements.
Overall, this indicator provides a visual representation of open interest and price movements, helping traders identify potential trading opportunities based on build-up conditions and price behavior.


The "LB | SB | OH | OL" indicator is a tool designed to assist traders in analyzing price movements and open interest (OI) changes in FNO markets. This indicator combines various elements to provide insights into long build-up (LB), short build-up (SB), open-high (OH), and open-low (OL) scenarios.

Key features of the indicator include:

Override Symbol Input: Traders can override the default symbol and input their preferred symbol for analysis.

Open Interest Data: The indicator retrieves open interest data for the selected symbol and time frame, facilitating analysis based on changes in open interest.

Dashboard: The indicator features a customizable dashboard that displays key information such as build-up conditions, OI change, and price change.

Build-Up Conditions: The indicator identifies long build-up and short build-up scenarios based on user-defined thresholds for OI change and price change percentages.

Customization Options: Traders have the flexibility to customize various aspects of the indicator, including colors for long build-up, short build-up, positive OI change, negative OI change, positive price change, and negative price change.

Label Plots: Buy and sell labels are plotted on the chart to highlight potential trading opportunities. Traders can customize the colors and text colors of these labels based on their preferences.

Overall, the "LB | SB | OH | OL" indicator offers traders a comprehensive tool for analyzing price movements and open interest changes, helping them make informed trading decisions in the FNO markets.