Difference between weekly and daily Open Interest #s


fxsailor

Member
I am a ICT follower along with reading Larry Williams book on the COT data. One thing I have noticed is looking at Open Interest from barchart dot com. The OI for the same comodidity differs between the daily and weekly charts. Does anyone know why?

Here is an example:
Daily nearest. OI 180,559
http://www.barchart.com/chart.php?sym=B6Z14&style=technical&template=&p=DN&d=X&sd=&ed=&size=M&log=0&t=CANDLE&v=1&g=1&evnt=1&late=1&o1=&o2=&o3=&sh=200&indicators=COTLC%2813369344%2C26112%2C153%29&chartindicator_2_code=COTLC&chartindicator_2_param_0=13369344&chartindicator_2_param_1=26112&chartindicator_2_param_2=153&addindicator=&submitted=1&fpage=&txtDate=
Weekly nearest OI 90,299
http://www.barchart.com/chart.php?sym=B6Z14&style=technical&template=&p=WN&d=X&sd=&ed=&size=M&log=0&t=CANDLE&v=1&g=1&evnt=1&late=1&o1=&o2=&o3=&sh=200&indicators=COTLC%2813369344%2C26112%2C153%29&chartindicator_2_code=COTLC&chartindicator_2_param_0=13369344&chartindicator_2_param_1=26112&chartindicator_2_param_2=153&addindicator=&submitted=1&fpage=&txtDate=
 

sqa

Village Scribe
Barchart's OI has some problems, especially during the Rollover period. I've noticed this before.
 

jinirav75

Well-Known Member
Not sure if this is helpful but found some very useful information on open interest, volume and price here.

http://www.atradersnotepad.com/module-8-trading-sentiment-news-correlation/trading-the-cot

Some sources of open interest on daily basis as suggested by above site here

http://futures.tradingcharts.com/chart/E6/

http://www.timingcharts.com/
 

fxsailor

Member
jinirav75 said:
Not sure if this is helpful but found some very useful information on open interest, volume and price here.

http://www.atradersnotepad.com/module-8-trading-sentiment-news-correlation/trading-the-cot

Some sources of open interest on daily basis as suggested by above site here

http://futures.tradingcharts.com/chart/E6/

http://www.timingcharts.com/
Thanks for the links. The interesting thing is the trading charts does the same thing with a different OI number between the daily and weekly.
 

jinirav75

Well-Known Member
Possibly the best option is to download the data in an excel form and create our own chart! Any excel experts here to show how this can be done?
 

jinirav75

Well-Known Member
Have you used this and is this useful only for long term trades? Any other source for monitoring OI on a daily basis? Thanks
 

jinirav75

Well-Known Member
Also, do we need to use it on currency futures chart as opposed to spot chart (assume most MT4 charts are spot charts)? Do we have any MT4 broker showing currency futures charts? Thanks
 

foreigner

Est. 12480 Hours and Counting
Its just another indicator, you can use it for trend following, gauging institutional sentiment or to anticipate turns which are usually preceded by a divergence on the weekly time frame. Like any indicator its only "right" 2/3 of the time, not to be relied on and no more useful than a moving average cross or RSI for intrday trading.
 

TheInnerCircleTrader

Well-Known Member
Open Interest is viewed in contract month and TOTAL OPEN INTEREST.

The Smart Money can't hide their actions if you view total Volume & Open Interest.

Contract Month OI is not the "Big Picture".
 

jinirav75

Well-Known Member
InnerCircleTrader said:
Open Interest is viewed in contract month and TOTAL OPEN INTEREST.

The Smart Money can't hide their actions if you view total Volume & Open Interest.

Contract Month OI is not the "Big Picture".

Is the Open Interest shown on the attached is Total Open Interest as you specify? Thanks
http://www.barchart.com/chart.php?sym=E6H15&style=technical&template=&p=WN&d=M&sd=&ed=&size=M&log=0&t=CANDLE&v=1&g=1&evnt=1&late=1&o1=&o2=&o3=&sh=100&indicators=&addindicator=&submitted=1&fpage=&txtDate=
 

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