Cuban's Open Interest Spaghetti [CE]

3 Apr 2023

Cuban's Open Interest Spaghetti is an indicator built for traders to track the open interest changes of highly correlated markets, spreads, and ecosystems.

The tool provides three different viewing modes for tracking open interest; a rolling bar lookback, a specific data and time anchor, and a visible range -- similar to the native Tradingview 'Compare' tool.

Included are pre-built lists for tracking the open interest of all 160+ Binance Futures assets, including custom fields for creating new spreads or watchlists. This gives the trader the ability to monitor the entire futures ecosystem within a single charting window.

We have also added an optional table to the right of the screen so that the trader can clearly see outperforming assets. This table is toggleable using radio buttons within the Style menu.

To improve asset visibility, the script also calculates the 'long tail' of the asset distribution and automatically lowers the visibility of clustered assets in the center.

While the Compare tool only allows for % returns and absolute value on the chart asset or separate scale, Cuban's Open Interest Spaghetti allows the trader to use a separate oscillator window with the open interest on a % scale. This gives the trader the ability to watch OI changes in real-time within any Tradingview window.

Within the user inputs, the user gains the ability to customize the following:

• Lookback mode
  
• Rolling lookback period
  
• Timezone and time anchor
  
• Percentage of assets highlighted
  
• Dynamic label offset
  
• Asset lists
  
  
  TO DO:
  
  
• Add % labels to assets in the tails of the distribution