The calculation has been explained here. On the same note, I'd also like to mention that using the live OI in your strategy probably isn't a good idea. Why is explained here.
Hi Nikhil, Thanks, could you please point me to some good strategies you know of where people have been successful... right now i'm exploring few strategies based on rsi,adx and volume, but none of them have been consistent.
Ah... That wouldn't be something I would be able to suggest to you. A successful strategy takes time and testing. You need to see what works for you and stick to it. Check out this module on Varsity for more.
The calculation has been explained here. On the same note, I'd also like to mention that using the live OI in your strategy probably isn't a good idea. Why is explained here.