COT PLOTING | NET POSITIONS [DIGGERDOG]

23 сент.

COT PLOTING | NET POSITIONS [DIGGERDOG]

This Pine Script for TradingView, titled **"COT PLOTTING | NET POSITIONS [DIGGERDOG]"**, visualizes the net positions of **commercial**, **non-commercial**, and **non-reportable** participants from the Commitment of Traders (COT) report. The net positions are displayed on a chart, with color adjustments for long and short positions and background shading based on COT data.

Key Features:

1. **COT Data Retrieval:**
- The script fetches **commercial**, **non-commercial**, and **non-reportable** positions from the **Legacy COT Report**.
- It distinguishes between **long and short positions** for each participant type.
- Users can select between **Futures**, **Options**, or **Futures + Options** for the position data.

2. **Net Positions:**
- Net positions are calculated as the difference between long and short positions, and displayed for commercial, non-commercial, and non-reportable market participants.
- Users can optionally specify a **CFTC Code** to analyze specific markets or use automatic COT code selection.

3. **Data Visualization:**
- The net positions of commercial traders are plotted as **red and green lines**. These colors indicate whether the net positions are growing or shrinking:
- **Red:** When the net position is positive and growing.
- **Green:** When the net position is negative or decreasing.
- The net positions of **non-commercial** participants are plotted in **blue**.
- The net positions of **non-reportable** participants can optionally be displayed.

4. **Background Color Based on Market Movements:**
- The chart’s background color changes dynamically based on the shifts in the net positions of commercial traders.
- **Red Background:** When the net position is increasing.
- **Green Background:** When the net position is decreasing.

5. **Dashboard and Timestamp:**
- The date of the last COT data update is displayed in the bottom-right corner of the chart. The timestamp of the latest data release is shown in a small table.

6. **Horizontal Line:**
- A horizontal line is displayed at **0**, clearly indicating the boundary between positive and negative net positions.

Usage:

This script is ideal for traders who use **Commitment of Traders (COT)** data to analyze market trends. The net positions of various market participants provide valuable insights into market sentiment. In particular, the positions of commercial traders, often referred to as "smart money," can indicate potential market movements.

Use Cases:

- **Market Sentiment Analysis:** The net positions of commercial, non-commercial, and non-reportable traders reveal the market’s positioning and can point to potential trend reversals.
- **Trend-Following Strategies:** Changes in net positions can signal a possible market direction shift, especially when commercial traders significantly change their positions.
- **Futures and Options:** Users can choose between purely futures data or a combination of futures and options for the COT analysis.

Additional Features:

- **Customizable Color Settings:** The line and background colors can be adjusted by the user.
- **Quick Overview:** The script provides a quick overview of the net positions of market participants and visually highlights potential turning points.

This script offers comprehensive COT data analysis and presents it in a user-friendly visual format. It helps traders make informed decisions based on the market positioning of major players.