# Technical Studies Reference

### Price, Open Interest, Volume

This study calculates and displays a Price, Open Interest, Volume (POIV) Indicator for the Price Data.

Let $$H_t$$, $$L_t$$, $$C_t$$, $$V_t$$, $$OI_t$$ and $$V^{(OB)}_t$$ be the respective values of the High Price, Low Price, Close Price, Volume, Open Interest, and On Balance Volume at Index $$t$$.

We define two functions, the True High and True Low, and we denote their values at Index $$t$$ as $$TH_t$$ and $$TL_t$$, respectively. We compute these as follows.

For $$t = 0$$:

$$TH_0 = H_0$$
$$TL_0 = L_0$$

For $$t > 0$$:

$$\displaystyle{TH_t = \left\{ \begin{matrix} H_t & H_t > C_{t - 1} \\ C_{t - 1} & H_t \leq C_{t - 1} \end{matrix}\right .}$$

$$\displaystyle{TL_t = \left\{ \begin{matrix} L_t & L_t < C_{t - 1} \\ C_{t - 1} & L_t \geq C_{t - 1} \end{matrix}\right .}$$

The POIV Indicator is computed as a cumulative sum, and we denote its summand at Index $$t$$ as $$S_t$$. We compute this summand for $$t > 0$$ as follows.

$$\displaystyle{S_t = \left\{ \begin{matrix} \frac{{OI}_t \cdot (C_t - C_{t - 1})}{{TH}_t - {TL}_t} + V^{(OB)}_t & {TH}_t - {TI}_t \neq 0 \\ 0 & {TH}_t - {TI}_t = 0 \end{matrix}\right .}$$

Finally, we denote the Price, Open Interest, Volume Indicator at Index $$t$$ as $$POIV_t$$, and we compute it for $$t > 0$$ as follows.

$$\displaystyle{{POIV}_t = \left\{ \begin{matrix} \sum_{i = 1}^t S_i & {TH}_t - {TL}_t \neq 0 \\ {POIV}_{t - 1} & {TH}_t - {TL}_t = 0 \end{matrix}\right .}$$

For an explanation of the Sigma ($$\Sigma$$) notation for summation, refer to our description here.

#### Inputs

• This study has no Inputs.