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MetaCOT 2 Williams Commercial Index TFF MT5

MetaCOT 2 is a set of indicators and specialized utilities, that allows to analyze the CFTC (U.S. Commodity futures trading commission) reports right in the MetaTrader terminal. This indicator analyzes the Traders in Financial Futures (TFF) reports and is analogous to the classic Willco indicator, calculated for the COT reports.

Williams Commercial Index (Willco) developed by Larry Williams is the most advanced version of the standard TFF Index. Unlike the latter, Willco compares extreme values ​​of participant groups to cumulative open interest. Thus, Willco is a standard TFF Index weighted relative to the entire market. Like the latter, it is an oscillator and changes its value from zero to one hundred percent. The values of the indicator from 0% to 20% and from 80% to 100% point at the moments of the extreme overbought and oversold state market, signaling the potential reversal of the price after reaching these levels.

Find out more details on the calculation method of this indicator in the book by Larry Williams: Trade Stocks and Commodities with the Insiders: Secrets of the COT Report".

Below are the main indicator parameters and their description:

  • Source of Report - TFF report type. There are two types of report: Futures Only and Futures And Options;
  • Group of Traders - group of TFF report participants;
  • Period of Willco Index - period of Willco Index calculation. Recommended values: 26, 52 and 156 weeks;

This indicator is designed for analyzing financial markets (currencies, indices, bonds). Use the D-COT series indicators for analyzing the commodity markets (metals, oil and gas, food, raw materials), particularly the Williams Commercial Index D-COT.

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 MT5.
More details on the description of the indicator settings can be found in the blog "MetaCOT 2: Settings and Possibility".

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版本 2.11 - 2016.11.07
Fixed the error in the calculation algorithm of the COT index compared to version 2.10. In value 2.10, the historical values of the COT index had been calculated incorrectly.