The Commitment of Traders (COT) indicator for Metatrader 5 presents the positions of futures traders at the end of the trading session, typically on Tuesdays.
The indicator tends to work better on higher time frames.
It shows the Commitment of Traders Report (COT), Traders in Financial Futures (TFF), and open interest (OI), all visualized on a single chart.
The COT indicator supports the major currency pairs and also includes the USDMXN pair.
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The picture below displays what the Commitment of Traders (COT) indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The COT Indicator?
The indicator’s function is limited to displaying COT figures and other relevant market data; it does not provide buy or sell signals.
Please combine the indicator with an existing trading strategy or buy/sell technical indicators.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the FXSSI.COT.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click on the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on the properties
- Now you can edit the inputs, colors, levels, scale, and visualization
- Finally, click the OK button to save the new configuration