Open Interest – indicator for MetaTrader 5

  • Platform: Metatrader5
  • Currency pairs: Any pairs, indices and metals
  • Trading Time: Around the clock
  • Recommended broker: icmarkets, XM
  • The Open Interest indicator shows the parameter “Total volume of open positions – SYMBOL_SESSION_INTEREST”.

    Explanation of indicator colors: 

    If the indicator bar is blue, open interest has grown since the bar emergence, if red, open interest has decreased. 

    A slight modification in the indicator:

    Now, after the first launch, if prev_calculate==0, the indicator will not re-initialize its indicator buffers. The result: for example, we run the indicator on a chart, the indicator worked for a while and then suddenly prev_calculate==0 is received (can be due to connection loss or history errors) – in this case, the indicator will not re-initialize its indicator buffers, but will continue normal operation.

  • How to install MT5 indicator?
  • 1. On the desktop, double-click to open the MT45 trading platform software you installed.
  • 2. Click on “File” in the upper left corner – “Open Data Folder”, double-click the MQL5 folder, and double-click the Indicators folder
  • 3. Copy the metrics you need to install to the Indicators folder
  • 4. Open MT5, find “Navigator” in the display menu, then click “Technical Indicators” of “Navigator” and right click to refresh, you will see the indicator just copied.
  • 5. In the “Technical Indicators” of “Navigator”, find the indicator file just installed, double click or click manually to the chart window