Non-Commercial Bias Tracker

4 ore fa

Non-Commercial Bias Tracker
Overview

The Non-Commercial Bias Tracker is a sophisticated sentiment analysis tool designed to provide traders with a clear view of the positioning of institutional speculators in the futures market. By analyzing the weekly Commitment of Traders (COT) report, this indicator helps you understand the underlying bias of large market participants for a wide range of assets, including forex, commodities, and indices.

The primary goal of this tool is to identify the prevailing trend in market sentiment and alert you to significant shifts in that trend, allowing you to align your strategy with the flow of institutional money.

Key Features

Dual Asset Analysis: Automatically detects the two assets in a trading pair (e.g., EUR and USD in EURUSD) or a single asset (e.g., GOLD) and displays their sentiment data side-by-side.

Comprehensive Data Table: A clean, customizable dashboard shows you the most critical sentiment metrics at a glance, including the current Net Position, the Change %, and the Overall Bias.

Visual Sentiment Plot: The indicator plots the primary sentiment metric and its signal line, giving you a visual representation of momentum and trend.

Clear Bias-Shift Signals: Green and red circles appear directly on the plot to highlight the exact moment the underlying sentiment momentum shifts, providing clear and timely signals.

How to Use the Indicator

Important Note: The Commitment of Traders data is released weekly. For the most accurate and meaningful signals, it is strongly recommended to use this indicator on the Weekly (W) chart timeframe.

1. The Data Table

The table in the corner of your screen is your main dashboard. Here’s what each row means:

Net Position: Shows the net difference between long (bullish) and short (bearish) contracts held by non-commercial traders. A positive number indicates a net long position; a negative number indicates a net short position.

Change %: This is the primary metric used for analysis, representing the net sentiment as a percentage.

Overall Bias: This is the final output of the indicator's analysis. It provides a clear "Long" or "Short" signal based on the current sentiment momentum. This cell is color-coded for quick interpretation (Green for Long, Red for Short).

2. The Chart Plots

Blue Line: Represents the current sentiment metric ("Change %" or "Net Position %").

Orange Line: Represents the signal line, or the average sentiment over a specific period.

Crossover Signals:

A Green Circle appears when the blue line crosses above the orange line, signaling a shift to a Long Bias.

A Red Circle appears when the blue line crosses below the orange line, signaling a shift to a Short Bias.

Settings & Customization

You can tailor the indicator to your specific needs via the Settings menu:

Data Source: Choose between "Futures Only" or the combined "Futures and Options" data.

Metric Type: Select whether to analyze the market using "Change %" (for momentum) or "Net Position %" (for conviction).

Bias Signal Line Length: Adjust the sensitivity of the crossover signals. A shorter length is faster, while a longer length provides smoother, more confirmed signals.

Style Settings: Customize the position of the data table and the color of the text to match your chart theme.

Disclaimer: This indicator is a tool for analysis and should not be considered as direct financial advice. All trading involves risk. Always use proper risk management and conduct your own due diligence before making any trading decisions.

3 ore fa

Note di rilascio

updated the chart

3 ore fa

Note di rilascio

updated the label