ChrisMoody

_CM_COT Commercial Net Interest_V1

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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 http://www.Trade-Futures.com and http://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
-Took Off Net Long and Short Individual Plots
-Added Optional Background Highlighting when Commercials Switch from Long to Short
-Added Optional Alert Capability If Commercials Go From Net Long to Short
-Ability to Show INVERSE - This makes it Easier for some Traders to See…Since the Signals look similar to MacD / RSI Type Indicators.

***Additional Indicators and Updates Coming Soon

***Link To Upper Indicator:
نص برمجي مفتوح المصدر

قام مؤلف هذا النص البرمجي بنشره وجعله مفتوح المصدر، بحيث يمكن للمتداولين فهمه والتحقق منه، وهو الأمر الذي يدخل ضمن قيم TradingView. تحياتنا للمؤلف! يمكنك استخدامه مجانًا، ولكن إعادة استخدام هذا الكود في منشور تحكمه قواعد الموقع. يمكنك جعله مفضلاً لاستخدامه على الرسم البياني.

هل تريد استخدام هذا النص البرمجي على الرسم البياني؟
//Created by ChrisMoody on 3-30-2015
//Shows Net Commercials
//Full Credit goes to Greeny fo rcreating original code.  I only made slight modifications.
//Modifications include - Taking away Net Longs and Shorts, Adding Background Highlighting when Commercials go from Long to Short
//Methodology Is from Jake Bernstein at www.Trade-Futures.com and www.2Chimps.net

study("_CM_COT Commercial Net Interest_V1", shorttitle="_CM_COT Commercial Net Int_V1", precision=0)
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(true, type=bool, title="Show Background Highlight 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
//Alert criteria
alert1 = net[1] > 0 and net < 0 ? 1 : 0
//Code for Histogram Color
col= net > 0 ? green : red

plot(si and long-short ? (long-short)*-1 : long-short, color = col, title="Net", style=columns)
hline(0, color=black, linestyle=dashed)
barcolor(sbc and (net[1] > 0 and net < 0) ? orange : na)
bgcolor(sbg and (net[1] > 0 and net < 0) ? lime : na, transp=20)

plot(sa1 and alert1 ? alert1 : 0, title="Alert If Commercials Go From Net Buy to Sell", style=line, linewidth=2, color=lime)

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