MetaCOT 2 Movement Index MT4

Movement Index was first proposed by Steve Breeze and described in his book "The Commitments of Traders Bible: How To Profit from Insider Market Intelligence". It quickly gained popularity among the traders who analyze the CFTC reports, and became a classic and a unique tool in many aspects, which can be used for finding rapid changes, leading to an imbalance of positions between the market participants.

The indicator displays the change in the relative position of the participants as a histogram, expressed as a percentage. It ranges from -100% to + 100% and is calculated based on the data of the COT Index or Willco Index indicator. The reverse signals appear when the absolute values of the indicator exceed the threshold, set to 40% by default.

While other indicators of the MetaCOT series are trend indicators, the Movement Index is a momentum indicator, i.e. it displays the rapid change in the positions of the market participants. Thus, the indicator becomes indispensable for analysis in conjunction with other indicators of the MetaCOT series. In addition, the Movement Index is not available on other programs which provide access to the CFTC reports. Thus, the MetaTrader platform and the MetaCOT set are the uncontested solution for the comprehensive analysis of the CFTC reports.

Find out more details on the usage methods of 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 main 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;
• Calculation On Data - Allows to select one of two indicators as the data for calculation: COT Index (classic option) or Willco Index (advanced option);
• Period of COT Index - Period of COT Index calculation, the indicator used for the calculation of the Movement Index. Recommended values: 25, 52 and 156 weeks;
• Movement Period - the difference between the current COT Index value and the value N periods back.

For advanced users, there are additional parameters that make the indicator configuration more flexible:

• 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 Tuesday' - 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 - 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.