Speculative Sentiment Index

Speculative Sentiment Index

I need an EA or indicator (whichever is more feasible) developed based off the data and application of the Forex Insider a free EA provided by Forex21. Please take the opportunity to navigate to the website and take a look at the information provided by Forex21. Below is a description of the EA found on the page.

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Forex Insider is a truly unique Trading Tool which allows you to see the positions of other currency traders. Until now, only institutional traders had access to such data which gave them a serious advantage over retail traders because of obvious reasons. With Forex Insider, you too will finally know what other traders are doing which makes it easy to beat them on the forex battlefield.

Data comes from MyFxbook Community Outlook data feed and is based on up to 100 000 live trading positions and includes the following information:

• Short vs. Long - Positions Ratio in Percent

• Short vs. Long - Positions Volume

• Short vs. Long - Number of Positions

• Average Short Price

• Average Long Price

As the data is updated every 60 seconds, the information provided by Forex Insider gives you a unique insight of what other currency traders are doing. The result is a strategic advantage which allows the user to stay away from risky trades and pick trades with high win probability.

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Graphically, I need the EA to be similar to the Speculative Sentiment Index provided by FXCM in terms of visual representation. That is to say, I need the EA to overlay a chart and include two variables along opposite y-axes – price on the right y-axis and position volume on the left. With the overall current positioning averaged and represented as a “composite” index. Basically, I need the information provided by the data mined through Myfxbook formally represented as a chart I've attached an image of a trading template based on the Commitment of Traders report published by the CFTC and created by some developers over at Forexcot. I really like this “skeleton.” Structurally speaking I would like to begin with this as a base pattern and work with my coder on tweaking it to suit my purposes.

To summarize:

1. Data needs to be mined in a similar vein to the Forex Insider EA here.

2. Data needs to be displayed in a similar fashion to FXCM's SSI here and Forexcot's COT trading indicator here.