As you may know, we have recently relaunched our Forex Trading Course, which now boasts a host of impressive updates with our own indicators having been added to the accompanying tools as well as a further range of strategies and an expanded Order Flow and Volume Profile section.
One of the indicators we have added to the course which has received some of the most positive feedback is the exciting COT Implied Positions Indicator, which is the only one of its type on the market.
The indicator is available as an add-on to our COT indicator and is really proving to be one of the favourite additions to the course. Let’s take a look why in a simple Q&A below…
What Does it Do?
- Cross references weekly COT (Commitment of Traders) data from two underlying, to create a proxy COT indicator for your chosen pair, showing the positioning of market participants in those two currencies.
- Displays a neat visual aid on your charts.
Best Thing About It?
- Totally unique product – the only one on the market.
- Allows traders to use COT orientated strategies on pairs not featured in the weekly COT data.
- Cross references the data so you don’t have to.
- Displays current and historical data allowing traders to go back and measure. Implied COT readings against price charts to form trading strategies.
What Does It Look Like?
The Indicator Has Two Key Elements To It
- The green line shows the Non-Commercials (Banks & Institutions) that we look to align our trades with and the blue line shows the Commercials (Corporates, Multi-Nationals) that we want to trade against
- In the chart above we only use green and blue lines for Non-Commercial & Commercial positioning but there is an option in the settings to turn on red lines showing speculators ( leveraged funds & other reportable)
How To Use It?
There are numerous strategies we can use based around the COT Indicator and we go into these in great detail within our Forex Trading Course, but we will highlight a basic strategy here for you. In the strategy below we use the regular version of COT but this strategy can be employed exactly the same with COT Implied Positions Indicator.
Want some more info on the Indicator? Watch the video below.
We’re giving you the chance to trial the indicators included in the course, in an exclusive try-before-you-buy promotion that will allow you to witness the power of our indicators, particularly when used in conjunction with our comprehensive Forex Trading Course.