OPEN-SOURCE SCRIPT
Updated Carry Monitor
Most traders look only at price.
Professionals look at the curve.
Carry is the price difference between the front futures contract (F1) and the next contract (F2). It reflects whether the market is in:
When carry is annualized, it becomes comparable across commodities and time, revealing how aggressively the curve is pricing forward expectations.
This indicator visualizes:
Carry helps answer:
This tool is designed for education and structure awareness — not signals.
Professionals look at the curve.
Carry is the price difference between the front futures contract (F1) and the next contract (F2). It reflects whether the market is in:
- Backwardation — near-term supply tightness
- Contango — storage, financing, or excess supply
When carry is annualized, it becomes comparable across commodities and time, revealing how aggressively the curve is pricing forward expectations.
This indicator visualizes:
- Annualized F1–F2 carry over time
- Backwardation / Contango regimes
- Structure steepening or flattening
- 1Y structural extremes
- Key contract and spread statistics
Carry helps answer:
- Is the market structurally tight or loose?
- Is the curve strengthening or weakening?
- Are we near structural extremes?
This tool is designed for education and structure awareness — not signals.
Release Notes
- Including FSL libraries
- Changing Style for the table
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Quant Developer | Pine Script v6 | Python & R
12+ yrs system. trading, hedge fund experience
Indicators, strategies & screeners
Futures & options
💼 Hire/Consulting:
qntly.com/hire
🎓 Pine Code With AI:
qntly.com/pineai
12+ yrs system. trading, hedge fund experience
Indicators, strategies & screeners
Futures & options
💼 Hire/Consulting:
qntly.com/hire
🎓 Pine Code With AI:
qntly.com/pineai
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Quant Developer | Pine Script v6 | Python & R
12+ yrs system. trading, hedge fund experience
Indicators, strategies & screeners
Futures & options
💼 Hire/Consulting:
qntly.com/hire
🎓 Pine Code With AI:
qntly.com/pineai
12+ yrs system. trading, hedge fund experience
Indicators, strategies & screeners
Futures & options
💼 Hire/Consulting:
qntly.com/hire
🎓 Pine Code With AI:
qntly.com/pineai
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.