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MetaCOT 2 Absolute Position COT MT4

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 absolute positions shows the dynamics of the open positions or the number of traders in each participant groups of the classic COT report (Commitments of Traders). It includes the following groups:

  • Cumulative Open Interest of all market participants (Open Interest);
  • Long position or the number of non-commercial traders (Non-Commercial Long);
  • Short position or the number of non-commercial traders (Non-Commercial Short);
  • Position of non-commercial traders or their number, that is covered (Non-Commercial Spread);
  • Long position or the number of operators (Operators Long);
  • Short position or the number of operators (Operators Short);
  • Long position of non-reportable or small traders (Nonreportable Long);
  • Short position of non-reportable or small traders (Nonreportable Short).

Often the extreme values 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.

Since the indicator displays the "raw" data published in the COT report, it can also be used for building your own derived indicators and analytical tools. In addition, it can be combined with other indicators of the MetaCOT series, also to display several participant groups in one common subwindow of the indicator.

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".

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Version 2.4 - 2016.05.18
- Normalized the indicator parameters. Now, the main parameters are at the top. Fine tuning and extra features parameters are at the bottom. These additional parameters form PROFESSIONAL SETTINGS group.
- Fixed internal array initialization. In previous versions, this sometimes caused errors hiding the indicators from a chart.
- Now, oscillators automatically scale within -10 to +110%. This helps to set up more correct view of the indicators right at the first start of the indicator since the lines do not cross the top and bottom window borders.
- Switched to classic display of the indicator levels. Now, it is possible to place them at arbitrary levels, as well as change their colors and line types.
Version 2.3 - 2016.04.28
Version 2.03
- Added new parameter: 'Release Day'. It takes two values: 'Release by Tuesday' - new values of the indicator appear every Tuesday, and 'Release by Friday' (default value), - new values of the indicator appear ever Friday.
- Added new parameter: 'Data Type'. It allows to select the data source. At the value 'Contracts of Traders' (default value) the indicator downloads the information on the number of traders' contracts. At the value 'Number of Traders' the indicator downloads the information on the number of traders holding the corresponding position.
- Added an error message, displayed in the indicator window, if the data with the CFTC reports were not found or if 'MetaCOT CFTC Install Reports' is not installed.
- Fixed the indicator crash, which occurred when attempting to download a non-existing report.
Version 2.1 - 2016.02.16
- Significantly increased the calculation speed of the indicator. In the previous version the operation slowdowns were observed on the smaller timeframes.
- Fixed indicator reset error after the terminal restarts. Now the restart of the terminal runs smoothly.
- Fixed the indicator operation in the strategy tester. Now the indicator is plotted dynamically in the visualization mode.
- Improved the indicator value update system. Now, if the reports are updated via CFTC Reports, the indicator automatically downloads the new values, and there will be no need to restart the indicator.