Description
Percentage values showing the current difference between the number of traders, which have opened Long and Short positions. At that, already closed trades don’t affect the indicator’s value.
This indicator shows the sentiment of individual traders for a certain currency pair. According to the fact that “the crowd is usually wrong” we should open our trades in the direction opposite to the crowd’s direction.
Basic Ratio Strategy
We should open a long position when more than 60% of traders are short, and as you probably guessed, we should open a short position when more than 60% of traders are long. When the ratio is close to the value of 50%, we should not trade.
We can also analyze the ratio from different brokers to diversify risks. We should look for the majority of brokers showing unidirectional signals.
A good signal to open a short trade is on the picture above.
You might also be interested in:
[PoshTrader] Divergence Spotter
/* -------------------------------------------------------------------------------
*
* [PoshTrader] Market Sentiment
*
* Copyright (C) 2020, PoshTrader Ltd (https://poshtrader.com)
* PoshTrader reserves the right to modify or overwrite this algo with each release.
*
* https://poshtrader.com/items/ctrader/6016/
*
* -------------------------------------------------------------------------------
*/
using cAlgo.API;
using PoshTrader.Licensing;
namespace cAlgo
{
[Item(6016, "Market Sentiment", Author = "PoshTrader")]
[Indicator(IsOverlay = true, AccessRights = AccessRights.FullAccess)]
public class MarketSentiment : Indicator
{
protected override void Initialize()
{
new ItemLicense(this);
}
public override void Calculate(int index) { }
}
}
Jiri
Joined on 31.08.2015
- Distribution: Paid
- Language: C#
- Trading platform: cTrader Automate
- File name: [PoshTrader] Market Sentiment.algo
- Rating: 5
- Installs: 8648
Comments
Can you present backtests ?
My apology, marking as paid. However, you can try it completely free for 7 days. Just download and give it a try!
This should be free or paid? Because on the site, you have 50euro per year. Thanks! :)
Is this still valid to buy i do not see price