Price moves can look strong, but they don’t always tell the full story.
A breakout might be driven by new positions or just traders closing out old ones. Both can look the same on the chart. That’s where Open Interest Change indicator comes in. It helps you see what’s happening behind the price.
What it does
This indicator tracks how open interest changes compared to the previous day and plots it below your option chart.
A line holding above zero typically suggests open interest is building.
A line below zero may indicate positions are being unwound.
Sudden changes can hint at shifts in participation intensity.
A quick example
You are tracking NIFTY 25900 PE. The option falls fast, from over ₹25 to ₹1.20.
At first glance, it looks like simple time decay. But when you add Fyers Open Interest Change, you notice that over 3.7 crore contracts have been added. Open interest is rising as price is falling.
This suggests that fresh shorts are being built. The move is active, not passive.
Why it matters
This indicator shows if a move has real participation. It helps you judge the strength behind price action and act with more clarity.
You can track OI directly on the chart, candle by candle, without switching to the option chain.
How it works
The calculation is simple:
Open Interest Change = Current OI - Previous Day’s OI
There are two views:
Absolute: Shows the raw contract change
Percentage: Shows change relative to the previous day’s OI
Where it applies
This indicator works only on options charts. It is not available on stocks, spot indices, or futures.
Where to find it
This is available on FYERS Web, FYERS App, and FYERS Trader.
Open your chart
Go to Indicators
Search for Fyers Open Interest Change and select it
Try it on any active strike. You will see whether traders are driving the move or stepping back.