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Yen Major Move Up Coming! Custom COT Indicators!

Yen Major Move Up Coming! Custom COT Indicators!

Japanese Yen (P) CME:JY1!

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. Take Note When Commercials STOP Buying and START Selling Indicator Shows Net Commercials -Full Credit goes to Greeny for Creating Original Code. I only made slight modifications. Lower Indicator 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. Upper Indicator 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 & Upper Indicator Below Under Related Ideas: