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The following 2 users say Thank You to Big Mike for this post:
I have been playing with @aventeren 's and spoke with Zweistein already and I am currently evaluating to purchase his.
What I was really wondering is if there is a "Daily Open Interest" indicator pulled from CME data instead of a Weekly pulled from CFTC. Not sure if such a thing exists but I think BarChart.com plots Daily OI per contract, they must be pulling this data from somewhere.
There is a considerable difference between the daily open interest information and the COT report. The COT report gives you the open interest by category of traders, which is an information not available via CME. With CME you do not get any breakdown of the open interest.
With the COT report you may deduct whether trend followers or anticyclical traders are net long or net short and how those positions compare to the long term average. This information is much more valuable than just the open interest by itself. However, as it is only available once per week, it will not help you a lot, if you are an intraday trader.
The following 2 users say Thank You to Fat Tails for this post:
I am currently suscribed to TradeCOT from TradeCOT.com and it is looking good.
The only shortcoming I see is that it shows the Net Positions only and does not give you the separate OI of Longs and Shorts of each group.
I still don't know if there would be an edge in the raw data (separate long and short instead of net) but it would be good to play with.
The one from zweistein does give you the raw data but I might just stay with TradeCOT at ~$10/month for a while.
Hi, I have been asking the same general question regarding OI and received the same general answers you have. I did some searching around. I was able to get OI up and displayed on futures contract in Think or Swim and Trade Station as well. NT7 told me they did not support OI...so that was the end of that.
I do think that such a revelant set of data is mainly ignored by the general trading public. Some exchanges supply it, others do not. But I would not give up on it--you may have to change platforms.
@wontonsoup @webart after digging a little further I believe the best combo would be IQFeed + Multicharts.
I am currently checking MultiCharts and I guess I will eventually switch. It really sucks because I became good and super confident with Ninjascript...
The only issue is that IQFeed is more expensive than Kinetick. I understand Daily OI is part of the basic service, but it is $23 more if you decide to add the COT weekly data.