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This study calculates and displays the On Balance Open Interest over a specific length of bars.

Let \(C_t\) be the value of the Close Price at Index \(t\). We denote the Signed Open Interest at Index \(t\) as \(OI^{(\pm)}_t\), and we initialize this quantity to zero (that is, \(OI^{(\pm)}_0 = 0\)). We compute the Signed Open Interest for \(t > 0\) in terms of the Open Interest as follows.

Let the Length Input be denoted as \(n\). We denote the On Balance Open Interest - Short Term for this Input at Index \(t\) as \(OI^{(OB)}_t(n)\), and we describe the calculation of this quantity below.

For \(0 \leq t < n\), \(OI^{(OB)}_t(n)\) is calculated internally as follows. These values are not displayed as output.

The above formula is equivalent to \(OI^{(OB)}_t(n) = OI^{(OB)}_t\), where \(OI^{(OB)}_t\) is the On Balance Open Interest. That is, for \(0 \leq t < n\), the On Balance Open Interest - Short Term is equivalent to the ordinary On Balance Open Interest.

For \(t \geq n\), \(OI^{(OB)}_t(n)\) is calculated as follows. These values are displayed as output.