Openinterest spyke trigger for starting a bot

Hello everyone,

Perhaps this idea is completely ridiculous, but I wanted to share it with the group anyway, as there are some excellent experts here who might see an opportunity to develop this idea into a profitable strategy.

One thing is certain: trading bots thrive on volatility and achieve the best results in turbulent waters with high volatility. One of the indicators of high volatility is a rapid increase in openinterest.

The OrionTerminal portal has an open interest scanner and sends notifications when there is a significant increase in open interest. I manually tried to launch a DCA/GRID/COMBO bot at such moments and indeed achieved nice profits during increased volatility. Of course, this cannot be backtested because I am manually launching the bot.

Do you have any ideas on how this could be refined?


This is an interesting concept. I found some good reading here Using Open Interest to Find Bull/Bear Signals.

So far, we have not integrated any data providers, though that is in the pipeline. It would be a big project, though.

What we can do now is replicate indicators so that we can see the code in trading view. I checked the open interest indicator and found that only a few symbols actually support it. Getting data for a different symbol on the chart could be challenging if we need to get it.

By the way thank you for the tip. Now that Iā€™m looking at the pattern of this indicator, it looks like we are due for a nosedive :sweat_smile:


Maybe this indicator can help with the openinterest?

Ticks information also provides useful information. It shows how hot is the pair for trading