Open Interest + Continuation/Discontinuation Patterns

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📈 Open Interest + Continuation/Discontinuation Patterns
This indicator analyzes Open Interest data to detect four key convergence/divergence patterns that signal potential trend continuation or reversal:

Buyer Continuation

Seller Continuation

Buyer Discontinuation

Seller Discontinuation

Each pattern is identified by comparing price action with Open Interest behavior, using pivot-based logic and ATR filtering for precision. When a valid pattern is detected, the indicator draws visual lines on the chart and triggers custom alert conditions for each type, enabling timely decision-making.

The Open Interest data is plotted as a candle-style oscillator, offering a clear view of momentum shifts. The detection logic is fully configurable, allowing users to adjust pivot sensitivity, lookback ranges, and ATR filters to suit different market conditions.

Key features:

🔍 Detects continuation and discontinuation patterns via convergence/divergence logic

🔔 Alerts for all four pattern types

🕯️ Candle-style visualization of Open Interest

⚙️ ATR-based filtering and pivot customization

Perfect for traders seeking to enhance their market timing using Open Interest dynamics and divergence-based signals.

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