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FreeIndicators·ThinkorSwim

Commodities Tracker

Track oil, gold and the key commodities at a glance.

How to install in ThinkorSwim

  1. In ThinkorSwim, open a chart, then go to Studies → Edit Studies.
  2. Click Create, clear the editor, and paste the code.
  3. Name it, click Apply, then OK, and it draws on your chart.

How to Use — WeTradePro Commodities Tracker

A one-glance label dashboard of today's % move in gold, oil, natural gas, silver and copper — read the macro backdrop without leaving your chart. Educational, not advice.

What it is (one line)

Colored labels showing the session percent change of the major commodities (futures /GC /CL /NG /SI /HG, or ETFs GLD USO UNG SLV CPER), pulled onto any chart you're viewing.

Who it's for & best timeframe

Trader typeHow you use itBest timeframeNotes
Day traderRead risk-on vs risk-off backdrop before trading energy/metals names1-min – 15-min% is vs prior daily close, so it's live all session
Swing traderConfirm sector/commodity tailwinds behind a stock setupDailyGreat context check on energy/material swing trades
Position traderTrack the macro commodity regime (reflation vs deflation)Daily / WeeklySlow read of the inflation backdrop

Best overall: any timeframe — the labels always reflect today's move vs the prior daily close, so the tool is timeframe-agnostic. Most useful when trading energy, metals, miners, or broad risk.

What you see

  • Five colored labels, one per commodity, each showing the symbol and its % change on the day (green = up, red = down).
  • A header label "COMMODITIES (today)".

How to trade with it

  1. Read the regime. Crude + copper green together usually = reflation/risk-on; favor cyclicals and energy. Gold green while everything else red = fear/defense.
  2. Confirm commodity-stock setups. Going long an oil name (XOM, OXY)? Check /CL is green and leading, not fading.
  3. Spot divergence. Miners rallying but gold/silver red on the day = thin move, be cautious.
  4. Natural-gas standalone. /NG often moves on its own weather-driven story — don't read it as a broad-risk signal.

Settings (inputs)

  • useETF (no) — no uses futures proxies (/GC, /CL, /NG, /SI, /HG). Set yes if your data feed lacks futures, to use ETFs (GLD, USO, UNG, SLV, CPER) instead.

Best on

  • Any chart. Especially useful when trading energy, metals, miners, commodity ETFs, or gauging broad risk appetite for index trades.

Common mistakes

  • Expecting intraday-bar % instead of day % — the change is measured vs the *prior daily close*, so it's the move "on the day," not since the open.
  • Treating ETF % as identical to futures % — USO/UNG have roll/decay drag and won't perfectly track /CL or /NG. Use futures when you can.
  • Reading /NG as a risk gauge — natural gas is its own weather/storage market.
  • Data limitation: if your ThinkorSwim data package does NOT include futures, the futures symbols return blank — flip useETF to yes. This tool reports % change only; it does not and cannot show real-time futures depth or term structure.

Video script outline (for your WeTradePro tutorial)

  1. Hook: "Know if it's a risk-on or risk-off day in one glance."
  2. Add the study, point out the five labels and the colors.
  3. Reflation day: oil + copper green together — what that means for cyclicals.
  4. Fear day: gold green, everything else red.
  5. The futures-vs-ETF switch and why futures are cleaner.
  6. Honest note: it's % change, not a futures depth tool.
  7. Recap + "import link in description."

Educational analysis, not financial advice.

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