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Rudeadam18
Jul 17, 2022 2:35 AM

Commercial Net Long S&P Long

E-mini S&P 500 FuturesCME

Description

Great time to buy /ES or SPY as commercials are net long at extreme levels
Comments
orange369
could you define "commercials"?
thanks
orange369
could you define "commercials"?
thanks
Rudeadam18
@orange369, I swear a sent a reply, not sure where it went. This is a graphical representation of the Commitments of Traders reports compiled by the CFTC. Commercials are any large trader that trades the futures as part of hedging a position (Red Line) as opposed to hedge funds and large institutions (Green line) and small traders (blue line). Admittedly, I should have shown the weekly chart, but when the "commercials" are relatively more "long" than they have been historically, futures prices tend to follow. You can think of it as following the "smart money". . PS: Thanks for editing your original reply to be slightly more polite ;)
orange369
@Rudeadam18,
what is the exact ticker for commercial traders on tradingview?
thank you again
Rudeadam18
@orange369, There is no pullable ticker, only code that is linked to a NASDAQ database:

COT_DATA = "QUANDL:CFTC/" + FUTURES_CODE + "_FO_L_ALL|"

comm_long = security(COT_DATA + "4", "W", close)
comm_short = security(COT_DATA + "5", "W", close)
comm_net = comm_long - comm_short

In this case, the FUTURES_CODE for /ES is 13874A

I recommend searching for a COT Data indicator in the community scripts. I had this one up but TV took it down because I'm bad at posting stuff apparently
Rudeadam18
@orange369, I just posted another idea that I think will clear up a lot of confusion/questions (I hope)
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