MetaCOT 2 TFF Index 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 COT Index indicator, calculated for the COT reports.
TFF Index is the most popular, efficient and simple indicator for determining the extreme overbought and oversold points of the market. It is calculated based on the data on the net positions of traders from the TFF (Traders in Financial Futures) report according to the formula of the Stochastic oscillator. 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 probable 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 COT Index - period of COT 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 D-COT Index.
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".