MetaCOT 2 COT Index MT5

MetaCOT 2 - a set of indicators and specific tools for the analysis of the US Commission reports on commodity markets CFTC (U.S. Commodity Futures Trading Commission). Thanks to the reports published by the Commission, it is possible to analyze the size and direction of the position of the major market participants, which puts the accuracy of long-term forecasting of prices for a new, more qualitative level, inaccessible to most traders.

These indicators are related to fundamental analysis can also be used as an effective long-term filter at the entrance to the medium position. For this they should be combined with a classic price analysis.

COT Index - the most popular, effective and simple indicator to determine the extreme points of overbought and oversold. It is calculated on the basis of data on the net traders positions taken from the COT report (Commitments of Traders) formula oscillator Stochastic. Indicator values ranging from 0% to 20% and from 80% to 100%, point to moments of extreme overbought and oversold, indicating frequent price reverses after reaching these levels. As a basis of calculation used net position of commercial, non-profit and of unaccountable traders, as well as the open interest.

For more information about how to use this indicator can be found in the book Larri Vilyamsa, "Secrets of Trade futures market With the Insiders.", As well as in the eponymous article Project Meta COT - New Horizons CFTC Report Analysis in MetaTrader 4.

Below indicator parameters and their meaning:

Source of Report - View of the COT report. There are two types of reports: only futures (Futures Only) and futures and options (Futures And Options);

Group of Traders - Group members COT report. Includes groups listed above;

Release Day - sets the day of the update indicator. When set to the default, 'Release by Friday', the indicator updates its value on Friday (the day of the publication of data). If the value 'Release by Thuesday' - Tuesday (date of receipt of the data).

DataType - selects data for constructing the indicator. When set to the default, 'Contracts of Traders', the indicator calculates the value based on the number of contracts, at a value of 'Number of Traders' - based on the number of the number of traders values.

Subgroup of Traders - Subgroup EXHIBITORS. Divided at all (All), old (Old) and other (Other);

Period of COT Index - Calculation period COT-Index. Recommended values are: 25, 52 and 156 weeks;

Auto Detect Report Name - If this parameter is true, the indicator automatically loads the report corresponding to the character of the market, on which it is running. If you can not identify any report corresponding to the current symbol, is loaded by default the report specified in the parameter Report Name;

Report Name - the report name that you want to download, if the parameter Auto Detect Report Name is set to false. As the name of the report you must specify the name of one of MetaCOT database files without the extension of the file;

Mirror Mode - Mirror mode indicator. In the case of the truth, the indicator peaks become minima, and the minima - on the contrary, maxima.

This indicator can be combined with other indicators MetaCOT series, including - to display several groups of participants in one general indicator pane. This achieves a high degree of flexibility in conducting fundamental and technical market analysis. It is important to understand that this indicator is best used in conjunction with other indicators MetaCOT series, thereby producing the most accurate and comprehensive analysis of the fundamental picture of the market.

For the indicator, CFTC reports should download and install to your computer, which use a specialized utility installation MetaCOT 2 Install CFTC Reports MT4 reports.

More detailed information on the values of the indicator settings can be found in the blog "MetaCOT 2: Settings and Possibility".

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