MetaCOT 2 Netto Position COT MT4
- Indikatoren
- Vasiliy Sokolov
- Version: 2.61
- Aktualisiert: 7 August 2023
- Aktivierungen: 5
MetaCOT 2 is a set of indicators and specialized utilities for the analysis of the U.S. Commodity Futures Trading Commission reports. Thanks to the reports issued by the Commission, it is possible to analyze the size and direction of the positions of the major market participants, which brings the long-term price prediction accuracy to a new higher-quality level, inaccessible to most traders.
The indicator of the net positions of the market participants displays the difference between the long and short positions of one of the three trader groups, and also the gross open interest of the entire market and the number of positions that are covered by non-commercial traders. The COT (Commitments of Traders) report of the CFTC commission serves as the data source for this indicator. Below is a complete list of displayed groups:
- Cumulative Open Interest of all market participants (Open Interest);
- Net position of non-commercial traders (Netto Non-Commercial);
- Position of non-commercial traders, that is covered (Non-Commercial Spread);
- Net position of operators or commercial traders (Netto Operators Long);
- Net position of non-reportable or small traders (Nonreportable Long);
Often the extreme values of the net position of one of the group members are the harbingers of the global market reversal. This indicator shows these values, indicating the potential reversals in the future. Find out more details on how to use this indicator in the book by Larry Williams: "Trade Stocks and Commodities with the Insiders: Secrets of the COT Report", and also in the article Meta COT Project - New Horizons for CFTC Report Analysis in MetaTrader 4.
Below are the indicator parameters and their description:
- Source of Report - COT report type. There are two types of report: 'Futures Only' and 'Futures And Options';
- Group of Traders - Group of COT report participants. Includes the groups listed above;
- Release Day - set the day to refresh the indicator. At the default value, 'Release by Friday', the indicator updates its values on Friday (day of data release). At the value 'Release by Thuesday' - on Tuesday (day of data receipt).
- DataType - select data to plot the indicator. At the default value, 'Contracts of Traders', the indicator calculates its values based on the number of contracts, at the value 'Number of Traders' - based on the number of traders.
- Subgroup of Traders - Subgroup of the participants. Divided into All, Old and Other;
- Auto Detect Report Name - If this parameter is set to 'true', the indicator automatically downloads the report, corresponding to the market symbol it is running on. If no report corresponding to the current symbol could be identified, then the default report is downloaded, that is specified in the Report Name parameter;
- Report Name - The name of the report to download if the Auto Detect Report Name parameter is set to 'false'. The name of one of the MetaCOT database files without its extension must be specified as the report name;
- Mirror Mode - The mirror mode of the indicator, if true, the indicator maximums become minimums, and minimums become maximums.
This indicator can be combined with other indicators of the MetaCOT series, also to display several participant groups in one common subwindow of the indicator, and also to calculate the standard technical indicators based on the data of the indicator itself. It is important to understand that this indicator is best used in conjunction with other indicators of the MetaCOT series, thereby producing the most accurate and comprehensive analysis of the fundamental picture of the market.
The indicator operation requires the CFTC reports to be downloaded and installed on your computer, which can be done with a special report installation utility - MetaCOT 2 Install CFTC Reports MT4.
More details on the description of the indicator settings can be found in the blog "MetaCOT 2: Settings and Possibility".
I have bough ALL of Vasiliy's COT indicators for MT4. In the beginning they were working nicely but from February I can't get the expert to update the data and Vasiliy is not responding. Thus I give this a 1-star until I receive a meaningful response from him.