Home >> DTC Protocol Discussion Forum

DTC Protocol Discussion Forum

Date/Time: Fri, 29 Nov 2024 14:44:59 +0000

How to Post a Message for Support

Volume VS open interest

View Count: 4099

[2016-03-21 03:46:34] #1 [Go To First Post]
vbmithr - Posts: 204
Hi, I've looked at my charts for Bitsouk, and when I display studies for volume, I see everything at zero, and open interest however is not zero and I guess it displays the volume. I see that over DTC I only provide to SC the volume info (for historical data). For live data, open interest is also provided. Any explanation on this. To my understanding, if I only provide live updates for OI, SC should only be able to display instantaneous OI, but should not have a OI study that is able to provide OI for each tick, right? This should be volume instead.

[2016-03-21 04:29:35] #2 [Go To First Post]
DTC Engineering - Posts: 320
This is confusing. We have never heard of real-time open interest data. It certainly does not exist in the futures market. But possibly bitcoin futures. We do not know. In any case, with Intraday charts, the Open Interest is the Number of Trades in Sierra Chart.

[2016-03-21 04:44:12] #3 [Go To First Post]
vbmithr - Posts: 204
I'm confused also, I'm not a pro trader. I just read the definition of open interest being "the number of contracts outstanding", it is not equal to the number of trades. But anyway, any idea why the volume is always zero for my bitcoin futures charts?

[2016-03-21 07:46:37] #4 [Go To First Post]
DTC Engineering - Posts: 320
In Sierra Chart, for an Intraday chart, when using the Open Interest study, it is actually showing Number of Trades. Not open interest. But anyway, any idea why the volume is always zero for my bitcoin futures charts? Not sure unless we have access to the data feed and see what is happening ourselves.

[2016-03-21 09:15:11] #5 [Go To First Post]
vbmithr - Posts: 204
Will investigate. EDIT: The bug was mine. So to be completely sure, in the case of futures (BitMEX only trade futures): Volume is number of contracts traded during a period of time. OI is the number of trades during this period. IMO you should not call this Open Interest. Open Interest is defined as the number of contracts in existence at a certain point of time, which is not equal AFAIU to the number of trades during a period. If you buy my contract, then sell it back to me, there is 2 trades but 1 contracts in existence after the trades. Date Time Of Last Edit: 2016-03-21 16:30:00

[2016-03-21 16:30:13] #6 [Go To First Post]
vbmithr - Posts: 204
Ping ^^^^^

[2016-03-21 17:00:50] #7 [Go To First Post]
DTC Engineering - Posts: 320
OI is the number of trades during this period. No, this is not correct. This is only what happens when you use the Open Interest study on an Intraday chart in Sierra Chart. Otherwise, on a Historical Daily chart you will get the true Open Interest.

To post a message in this thread, you need to log in with your Sierra Chart account: