업데이트됨
Crude Oil: Backwardation Vs Contango
Crude Oil, CL
Plots Futures Curve: Futures contract prices over the next 3.5 years; to easily visualize Backwardation Vs Contango(carrying charge) markets.
Carrying charge (contract prices increasing into the future) = normal, representing the costs of carrying/storage of a commodity. When this is flipped to Backwardation(As the above; contract prices decreasing into the future): it's a bullish sign: Buyers want this commodity, and they want it NOW.
Note: indicator does not map to time axis in the same way as price; it simply plots the progression of contract months out into the future; left to right; so timeframe DOESN'T MATTER for this plot
TO UPDATE (every year or so): in REQUEST CONTRACTS section, delete old contracts (top) and add new ones (bottom). Then in PLOTTING section, Delete old contract labels (bottom); add new contract labels (top); adjust the X in 'bar_index-(X+_historical)' numbers accordingly
This is one of several similar Futures Curve indicators: Meats | Metals | Grains | VIX | Crude Oil
If you want to build from this; to work on other commodities; be aware that Tradingview limits the number of contract calls to 40 (hence the multiple indicators)
Tips:
-Right click and reset chart if you can't see the plot; or if you have trouble with the scaling.
-Right click and add to new scale if you prefer this not to overlay directly on price. Or move to new pane below.
-If this takes too long to load (due to so many security calls); comment out the more distant future half of the contracts; and their respective labels. Or comment out every other contract and every other label if you prefer.
--Added historical input: input days back in time; to see the historical shape of the Futures curve via selecting 'days back' snapshot
updated 20th June 2022
© twingall
Plots Futures Curve: Futures contract prices over the next 3.5 years; to easily visualize Backwardation Vs Contango(carrying charge) markets.
Carrying charge (contract prices increasing into the future) = normal, representing the costs of carrying/storage of a commodity. When this is flipped to Backwardation(As the above; contract prices decreasing into the future): it's a bullish sign: Buyers want this commodity, and they want it NOW.
Note: indicator does not map to time axis in the same way as price; it simply plots the progression of contract months out into the future; left to right; so timeframe DOESN'T MATTER for this plot
TO UPDATE (every year or so): in REQUEST CONTRACTS section, delete old contracts (top) and add new ones (bottom). Then in PLOTTING section, Delete old contract labels (bottom); add new contract labels (top); adjust the X in 'bar_index-(X+_historical)' numbers accordingly
This is one of several similar Futures Curve indicators: Meats | Metals | Grains | VIX | Crude Oil
If you want to build from this; to work on other commodities; be aware that Tradingview limits the number of contract calls to 40 (hence the multiple indicators)
Tips:
-Right click and reset chart if you can't see the plot; or if you have trouble with the scaling.
-Right click and add to new scale if you prefer this not to overlay directly on price. Or move to new pane below.
-If this takes too long to load (due to so many security calls); comment out the more distant future half of the contracts; and their respective labels. Or comment out every other contract and every other label if you prefer.
--Added historical input: input days back in time; to see the historical shape of the Futures curve via selecting 'days back' snapshot
updated 20th June 2022
© twingall
릴리즈 노트
reduced the numbers of contract calls to make this quicker to load. Comment/ uncomment the lines as you prefer릴리즈 노트
-updated to work on WTI (MATBAROFEX): Plots CL (NYMEX) futures curve when selected asset is WTI릴리즈 노트
-updated chart image and code comments릴리즈 노트
-Updated Contracts릴리즈 노트
-changed barstate.islast to barstate.islastconfirmedhistory to avoid 'snapshot' label double print릴리즈 노트
-added function to detect if contract is expired: Now will stop showing contracts once they expire, unless using the backtesting 'snapshot' mode
You can buy me a coffee here...
PayPal.Me/twingall
BTC: 3JrhUwNRnKyqhaa1n1AXKeAubNeEFoch6S
ETH erc20: 0x4b0400B1c18503529ab69611e82a934DDe4Ab038
ETH bep20: 0x1F0f03F184079bb1085F8C9dF3a8191C9f5869B3
PayPal.Me/twingall
BTC: 3JrhUwNRnKyqhaa1n1AXKeAubNeEFoch6S
ETH erc20: 0x4b0400B1c18503529ab69611e82a934DDe4Ab038
ETH bep20: 0x1F0f03F184079bb1085F8C9dF3a8191C9f5869B3
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
You can buy me a coffee here...
PayPal.Me/twingall
BTC: 3JrhUwNRnKyqhaa1n1AXKeAubNeEFoch6S
ETH erc20: 0x4b0400B1c18503529ab69611e82a934DDe4Ab038
ETH bep20: 0x1F0f03F184079bb1085F8C9dF3a8191C9f5869B3
PayPal.Me/twingall
BTC: 3JrhUwNRnKyqhaa1n1AXKeAubNeEFoch6S
ETH erc20: 0x4b0400B1c18503529ab69611e82a934DDe4Ab038
ETH bep20: 0x1F0f03F184079bb1085F8C9dF3a8191C9f5869B3
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.