Notes
- The determination of open float is used to identify where the liquidity pools of large funds are located.
- Open float types:
- Near-term open float - The highest high and lowest low of the last 20 trading days.
- Short-term open float - The highest high and lowest low of the last 40 trading days.
- intermediate-term open float - The highest high and lowest low of the last 60 trading days.
- Total open float - The highest high and lowest low of the 120 trading days (60 days look back and 60 days cast forward).
- Low open interest at a support level at a time when the stops have been run out below the market indicates potential strength.
- Low open interest at a resistance level at a time when the stops have been run out above the market indicates potential weakness.
Defining Open Float Liquidity Pools - 60-Day Range
Defining Open Float Liquidity Pools - 120-Day Range
Defining Open Float Liquidity Pools - USDCAD Example
Defining Open Float Liquidity Pools - Smart Money Disinterest
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