By having an open sell order on your shares, you are effectively tying up your shares in the market, making them unavailable to short. So, you are reducing the overall number of shares available to short, because yours are offered at a specific price and they can't be "borrowed" by your brokerage. If enough holders of the equity did this, the shares available to short would be reduced to the point that short interest could dry up, propping the price up in the process. It's sound logic, but not practical unless a significant amount of stockholders do it together.
It does not help. It's like if you put your on house on the market for $1M and the house next door just sold for $200K.......... You'll never get an offer..... So what's the point? Do you really think that "somebody" is looking at open sell orders thinking: "Oh look... somebody thinks it's worth $15.00 a share..........."............... L O L..... NO!