How do I chart the CFTC COT Excel data in NinjaTrader?
How do I import the CFTC COT Excel data in NinjaTrader to make a line chart?
This is the data from the CFTC:
I can take the weekly data and get it into Excel, I have done that part, I would like to take this data and import it into Ninja as a chart. Has any one this or know how?
I am looking for a line chart of the Commercials, Large traders and Small traders and Open Interest.
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First off the answer is yes you can do this. You can import any excel data into NT there are article on the NT support form. This is the help screen on how to do it: NinjaTrader Version 7
You also can pay a service I think it is like $39 a month for the feed they are in the official NT suppler list, I also found this one on goggle COT Report
but I think that would be crazy since this data only comes out once a week.
I can warn you before you go down this path, that the correlation of the CoT data and the markets is very weak.
You can view some graphs here: http://www.timingcharts.com/
Notice they lag the commodities by quite a bit, about the best you can do is take the weekly data on a 20 week SMA and get a sense of market direction. That is almost no use, a renko chart of the SPY tells about the same story. In short -- the lag on this indicator makes it nearly useless for trading in any real time frame.
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Also as a reference "Barchart provides charts for all three COT Reports. The Financial Traders (TFF) Report divides the financial futures market participants into the "sell" and "buy" side, focusing on their respective roles in the marketplace, not whether they are buyers or sellers of futures/option contracts."
COT is not optimal - it does not give perfect cause and effect, the correlation is weak as you say. But I am looking for something other than price and volume to evaluate the markets. COT and Open Interest are showing what the Commercials are doing, with this a scenario can be built that reduces risk. This is a swing trade scenario in terms of 5 to 40 days, depending on the exit strategy. In the case of commodities, yearly cycles and current consumptions, some very good trades can be setup.
Thank you for the links to the help section,
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This looks very promising! would you please post a link to the Ninja Forum page so I can read how they use it? The data comes from the CFTC and there may be info on how to merge this into this indicator.
Thanks for posting the zip file!