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 Trade-Futures.com and 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
Hello ChrisMoody
apology for basic question. how can i show Japanese Yen (P) symbol in tradingview... like you have shown on the screenshot. i cant not seem to find it. Does it also work if i display USD/JPY from FX market data like fxcm, oanda?
TASAVANT
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Including COT data like this is great!...thanks Chris
ChrisMoody
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It's been a while man...Thanks
cooney_s
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Thanks for this Chris. Great piece of information!
apology for basic question. how can i show Japanese Yen (P) symbol in tradingview... like you have shown on the screenshot. i cant not seem to find it. Does it also work if i display USD/JPY from FX market data like fxcm, oanda?