Self-Updating Commitment Of Traders (COT) Indicator for MetaTrader 4 Released

The COT Indicator Suite by Easy Expert Forex brings the Commitment of Traders report data to the MetaTrader forex trading platform.
By: Andrew Young
 
July 25, 2011 - PRLog -- Savvy traders in the commodities and futures markets have long used the Commitment of Traders (COT) report, issued weekly by the CFTC, to make informed trading decisions. The COT report lists the aggregate long and short positions of the biggest players in the futures market, including banks, hedge funds and manufacturers. Trader can use this information to stay on the right side of the market.

Now, forex traders using today's most popular trading platform can leverage this information for the currency market. The COT Indicator Suite for MetaTrader by Easy Expert Forex plots the net long or short positions for all three categories of traders on the COT report (commercial, non-commercial and non-reportable).

By default, the suite downloads data for the eight most popular currencies traded on the futures market. Users can add any instrument that is listed on the COT report to view on their MetaTrader charts, including commodities and stock indices. The indicators can be used for both trend and counter-trend signals, and a separate indicator plots open interest.

The COT Indicator Suite is an excellent addition to any long-term trading strategy. The indicators and their data are fully-usable in expert advisor projects. Easy Expert Forex will be offering integration with their popular Moving Average Cross expert advisor trading strategy.

"Most forex traders focus on the short term, but smart traders know that profit is made in the long term," says Andrew Young, programmer and creator of COT Indicator Suite. "I felt that the information on the COT report was indispensible to long-term traders, and wanted to find a way to use this information in automated trading."

Unlike most COT indicators on the market, the COT Indicator Suite does not require a data subscription, nor are there any recurring fees. A separate updating application downloads the free data from the CFTC server weekly.

More information on the COT Indicator Suite for MetaTrader can be found at our website at http://www.easyexpertforex.com/

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Easy Expert Forex specializes in MQL programming and software for the MetaTrader forex trading platform.
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Tags:Cot, Commitment Of Traders, Report, Indicator, Metatrader
Industry:Financial, Business
Location:Nashville - Tennessee - United States
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