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Herrick Payoff Index


The Herrick Payoff Index (HPI) confirms strong trends and helps to determine the moment when they change their direction to the opposite; it tracks prices, the volume of transactions and open interest (current obligations), combining them into a single indicator.

In MetaTrader 5, the Herrick Index can be displayed as a histogram or a line chart for all trading instruments for which an open interest is broadcast. Existing obligations or open interest are the total volume of existing contracts (futures, options), the settlement of which has not yet been made. In MetaTrader 5, it is displayed as ” Current Obligations “in the” Details “tab in the”Market Overview” window.

In the standard delivery of the indicator, the following rules are adopted for coloring the index.

The colors can be changed in the standard “Settings” window of the indicator.

HPI measures the inflow or outflow of capital from the market, it helps to identify when strong players quietly buy or sell assets. If the index is above zero , the volume of funds entering the market is growing (a bullish sign), below zero, there is an outflow of funds (a bearish sign). But the strongest HPI signals are formed when it diverges from prices (see the example in the screenshot).

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There are other signals that can be obtained using HPI. Their description is freely available on the Internet or, for example, in the book “How to play and win on the stock exchange” by Alexander Elder.

Additions and changes may be made to the product. You can find out about this in the “What’s new” tab.


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