ChrisMoody

_CM_COT Commercial Net Interest_Upper_V1

1160 4 210
Overview.
-This is the Beginning of a Educational Series from Jake Bernstein to the TradingView Community.
-Many Traders use the COT Data Incorrectly.
-Jake Discovered if You Look at the Net Commercials and Take Note When Commercials net Buying is Either At All Time Highs, Or Net Buying = Longest Period of Buying Look for an Extreme Move To the Upside.
-In The Future We Will Show Precise Entry Signals…But a Basic Entry Signal Is When Commercials Go From Net Long to Net Short.
-Full Credit in Methodology goes to Jake Bernstein at www.Trade-Futures.com and www.2Chimps.net

Thought Process:
-Commercials Represent Large (Typically Billion Dollar) Companies.
-Take Note - When Commercials Are Buying at Record High
-Take Note - When Commercials Are Buying For Record Long Periods of Time
***Note…Commercials Can Buy For Extended Periods Dollar Cost Averaging…
***Basic Entry Listed In Overview.
***More Precise Entries Will Be Introduced Soon.

Indicator Shows Net Commercials
-Full Credit goes to Greeny for Creating Original Code. I only made slight modifications.

Modifications include
-Added Ability to Plot Text Entries when Commercials Switch From Net Long To Short
-Added Optional Background Highlighting when Commercials Switch from Long to Short
-Added Optional Alert Capability If Commercials Go From Net Long to Short

***Additional Indicators and Updates Coming Soon

***Link To Lower Indicator:
_CM_COT Commercial Net Interest_V1
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//Created by ChrisMoody on 3-30-2015
//Shows Net Commercials
//Full Credit goes to Greeny for creating original code.  I only made slight modifications.
//Modifications include - Added Upper Signals, Adding Background Highlighting when Commercials go from Long to Short, Added Price Bar Highlights.
//Methodology Is from Jake Bernstein at www.Trade-Futures.com and www.2Chimps.net

study("_CM_COT Commercial Net Interest_Upper_V1", shorttitle="_CM_COT Commercial Net Int_Upper_V1", overlay=true)
force_root = input("", title="Override Product")
is_includeoptions = input(false, type=bool, title="Include Options")
//si = input(false, type=bool, title="Show Inverse")
sbc = input(false, type=bool, title="Color Price Bars?")
sbg = input(false, type=bool, title="Show Background Highlight when Commercials Change From Buying to Selling?")
ss = input(true, type=bool, title="Show Text when Commercials Change From Buying to Selling?")
sa1 = input(true, type=bool, title="Alert If Commercials Change From Buying to Selling?")

fxroot =
	  ticker == "USDCAD" ? "CD" : 
	  ticker == "USDCAD" ? "CD" : 
	  ticker == "USDCHF" ? "SF" : 
	  ticker == "USDCZK" ? "CZ" : 
	  ticker == "USDHUF" ? "FR" : 
	  ticker == "USDILS" ? "IS" : 
	  ticker == "USDJPY" ? "JY" : 
	  ticker == "USDMXN" ? "MP" : 
	  ticker == "USDNOK" ? "UN" : 
	  ticker == "USDPLN" ? "PZ" : 
	  ticker == "USDRUB" ? "RU" : 
	  ticker == "USDSEK" ? "SE" : 
	  ticker == "USDZAR" ? "RA" : 
	  ticker == "EURUSD" ? "EC" : 
	  ticker == "AUDUSD" ? "AD" : 
	  ticker == "GBPUSD" ? "BP" : 
	  ticker == "NZDUSD" ? "NE" : 
	  ticker == "BRLUSD" ? "BR" : 
	  ""
root = force_root == "" ? fxroot == "" ? syminfo.root : fxroot : force_root
code = root + (is_includeoptions ? "_FO_L_ALL" : "_F_L_ALL")

is_inversed = 
	  ticker == "USDCAD" ? true : 
	  ticker == "USDCAD" ? true : 
	  ticker == "USDCHF" ? true : 
	  ticker == "USDCZK" ? true : 
	  ticker == "USDHUF" ? true : 
	  ticker == "USDILS" ? true : 
	  ticker == "USDJPY" ? true : 
	  ticker == "USDMXN" ? true : 
	  ticker == "USDNOK" ? true : 
	  ticker == "USDPLN" ? true : 
	  ticker == "USDRUB" ? true : 
	  ticker == "USDSEK" ? true : 
	  ticker == "USDZAR" ? true : 
	  false

long_total = security("QUANDL:CFTC/"+code+"|4", "W", close)
short_total = security("QUANDL:CFTC/"+code+"|5", "W", close)
//Code for Commercials Net Totals
long = is_inversed ? short_total : long_total
short = is_inversed ? long_total : short_total
net = long - short
//True False Condition for Text Plots
signal = (net[1] > 0 and net < 0) ? 1 : 0
//Optional Text Plots
plotshape(ss and  signal ? signal : na, title="Commercials Changed from Net Buying to Selling", color=green, style=shape.arrowup, location=location.belowbar ,text='Commercials\nEntry', transp=0)
//Optional Background Highlighting and Bar Color Highlighting
barcolor(sbc and (net[1] > 0 and net < 0) ? orange : na)
bgcolor(sbg and (net[1] > 0 and net < 0) ? lime : na, transp=20)
Thanks for this Chris. Great piece of information!
Reply
ChrisMoody PRO coondawg71
2 years ago
Always a pleasure to hear from you coondawg71
Reply
TASAVANT
2 years ago
Including COT data like this is great!...thanks Chris
Reply
ChrisMoody PRO TASAVANT
2 years ago
It's been a while man...Thanks
Reply
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