The OTW system employs an air bubble, but it's a lot smaller than the sealed tank system, so that cuts down on water movement to some extent.
Systems that don't keep an air bubble are piston tanks, flexible bag systems (e.g. Thunder tiger Neptune), snort/ gas and hybrid ballast systems which mix technologies and tend to incorporate separate main and trim tanks.
Unfortunately very few of these systems are available in commercial format that are adequate for the size of model you are building. That means scatchbuilding.
If you are seriously thinking about building your own ballast system, then you need to get a copy of the Model Submarine technology book from Traplet.
This doesn't give much in the way of building details, but it does cover the theoretical bases, and spells out the advantages and disadvantages of the various systmes you can use.