Korean BTC Traders' Open interest ©MBY_LAB
We created an open interest for Korean bitcoin traders using the Upbit chart and Bithumb chart, which were recently added to TradingView.
This indicator estimates and displays the open interest of bitcoin traders actually traded through the trading volume of bitcoin traders in Korea.
Logic
In general, once a buy or sell is executed, this trade has no choice but to be reflected in the volume.
Therefore, if the price trend is up, the concept that the volume of buyers will be greater than the volume of sellers is applied.
How to Use
When the OI value, which is usually indicated in green, starts to decrease, it is interpreted as a liquidation of long positions by Korean traders.
Conversely, when the red OI value starts to decrease, it can be interpreted as a liquidation of short positions by Korean traders.
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact Yonggg92 directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.
Disclaimer
Invite-only script
Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact Yonggg92 directly.
TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.
Author's instructions
Warning: please read our guide for invite-only scripts before requesting access.