COT Indicators for MetaTrader 4 Demohttp://www.easyexpertforex.com/cot-indicator-metatrader.html

About the DemoThe COT Indicator demo for MetaTrader 4 contains fully working versions of the indicators that come with the COT Indicator Suite. The indicators come with 4 years of sample data (2007-2010) for EUR and USD only. The COT Update program is not included with the demo.

InstallationUnzip the contents of the ZIP file to the \experts folder of your broker's MetaTrader installation folder. Make sure all subfolders are preserved. The indicator files should be installed to \experts\indicators, and the sample data files should be in \experts\files\cotdata.

The Indicators

COT Graph

The COT Graph indicator graphs the non-commercial, commercial and non-reportable positions from the COT report in a separate indicator window. The lines are determined by calculating the difference between the long and short positions in the COT report. When positions are net long, the line is above zero, and when they are net short, the line is below zero.

The COT Graph indicator. The non-commercial line is green, the commercial line is red, and the non-reportable line is blue.

You can optionally display the indicator as a percentage of long to short positions. If ShowAsPercentage = true, the indicator lines are displayed as a value between 0 and 100. If the category is net long, the line will be above 50, and if net short, the line will be below 50. Percentage mode can be used to locate overbought and oversold areas, much like the RSI and stochastics indicators.

COT Graph Settings

• Instrument – The short name of the financial instrument. For Forex, this is the three-letter currency code, such as USD, EUR or JPY. Other instruments from the COT report can be defined as well.

• ShowNonCommercial – If true, the non-commercial line is shown. The default color is Green.

• ShowCommercial – If true, the commercial line is shown. The default color is Red.

• ShowNonReportable – If true, the non-reportable line is shown. The default color is Blue.

• ShowAsPercentage – If true, the lines are calculated as a percentage of longs vs. shorts, ranging from 0 to 100. If false, the lines are calculated as the net difference between longs and shorts.

• Invert – If true, the lines will be inverted from positive to negative, and vice versa.

COT Histogram

The COT Histogram indicator displays a single category of position data (non-commercial, commercial or non-reportable) along a histogram, with green lines illustrating an increase in net longs from the previous week, and red lines illustrating an decrease in net longs (or an increase in net shorts) from the previous week.

The COT Histogram indicator. Green lines are an increase in net longs, while Red lines are a decrease. The orange line is an SMA.

The orange line is a simple moving average applied to the histogram. The period of the moving average is adjustable. This produces trading signals similar to the MACD. A long signal is given when the histogram is above the moving average, and a short signal is given when the histogram is below the moving average.

An inverted COT Histogram indicator. Notice how the histogram follows the price action of the USDJPY.

You can invert the COT Histogram or COT Graph indicator by setting Invert = true. This allows the indicator line or histogram to match the price movement of the currency pair.

COT Histogram Settings

• Instrument – The short name of the financial instrument.

• Category – The category of position data from the COT report. Valid values are, 0: Non-Commercial, 1: Commercial or 2: Non-Reportable. The default is 0.

• MAPeriod – The period of the simple moving average.

• Invert – If true, the lines will be inverted from positive to negative, and vice versa.

COT Open Interest

The COT Open Interest indicator simply shows the open interest of the given instrument from the COT report. Open interest refers to the number of contracts that have not yet been settled. An increase in open interest can indicate that a price trend will continue, while a decrease in open interest means that a trend may be coming to an end.