The Handbook of Technical Analysis + Test Bank_ The Practitioner\'s Comprehensive Guide to Technical Analysis ( PDFDrive )

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Volume and Open Interest


fIgure  6.43 The Chaikin Money Flow and Chaikin Oscillator Signaling a Potential
Reversal on the Daily Chart of Copper.
Courtesy of Stockcharts.com

Open Interest Indicators: the COt report and herrick
payoff Index
The Herrick Payoff Index uses open interest in its calculations. As such, it may
only be used with futures and options. It incorporates price in its calculations and
as such divergence readings should be observed in the same manner as all other
price‐based volume oscillators. As with all volume oscillators, bearish signals are

fIgure 6.44 NYSE Up/Down Volume Line Generating an Early Bearish Signal.
Courtesy of Stockcharts.com
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