OIWAP (Open Interest Weighted Average Price)
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The Open Interest Weighted Average Price (OIWAP) serves as a benchmark, reflecting the average transaction price of contracts opened, helping traders in assessing market sentiment and directional trends.
We have also introduced two new Open Interest Weighted Average Price concepts, LIWAP (Long Interest Weighted Average Price) and
SIWAP (Short Interest Weighted Average Price).To read about OIWAP refer the OIWAP Blog.
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Very Interesting concept. Will study this in detail in live markets. Can this be plotted only on Candlesticks chart ? Or also on other noiseless charts ?
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@Deepak Patwardhan currently, it is available only on candlestick charts.
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look very interesting & i started to follow it.
it is helping in future chart.does it work on option in similar way ??
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HI...Looks very innovative but cant find in indicators & can you please make a detailed video on this...
Thanks n Regards... -
@Vinay Shrotriya yes, it works on options. One interesting concept on OIWAP is, if you add the OIWAP to the call option strike, you'll get a breakeven level for buyers and sellers of that particular strike and vice versa for put subtract OIWAP from the strike price, I hope you'll find it helpful.
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@Raajeev Kapur, Zone Web --> Indicators --> OIWAP, currently it is only available in zone web platform, will be also available in Tradepoint soon. An explanation video on OIWAP will soon be made.
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Looks interesting. Please make a video of how to interpret this OIWAP
