Hi Ivan,
Thanks for reaching out !
Open Interest (OI) data in Futures & Options reflects on longs winding up (OI decreases and price falls) / short covering (OI decreases and price shoots up) / fresh longs ( both OI and price moves up, in tadem) / short build up (both OI and price moves down, in tandem). These would provide good signals to trade with greater confidence, and take cues from market moves.
Also, in certain markets Trading view application provide it as technical indicator (open interest) that enables to easily find the signals by having the chart of Futures alongwith ATM put n call of an index/security of interest.
So, support on this would be high appreciated !!