MetaCOT 2 Movement Index DCOT MT4
MetaCOT 2 – a set of indicators and specialized tools for analyzing CFTC Commission reports (U.S. Commodity futures trading commission) directly in the terminal MetaTrader. This indicator analyzes the reports Disaggregated Commitments of Traders (D-COT) and is analogous to the classical Movement Index, calculated for the COT reports.
Movement Index was first introduced by Steve Breeze and described in his book “The Commitments of Traders Bible: How To Profit from Insider Market Intelligence”. Very quickly it became popular with traders who analyze the CFTC reports, and has become a classic, and in many ways a unique tool to find drastic changes, leading to an imbalance between the positions of market participants. The indicator is best suited to swing trading.
The indicator shows the change in the relative positions of the participants in the form of bar graphs, expressed as a percentage. It ranges from -100% to + 100% and is calculated on the data display D-COT Index or Willco Index. a reversal signals occur when the absolute value of the indicator exceeds a threshold level equal to default 40%.
While other indicators MetaCOT series are indicators trends, Movement Index is an indicator pulse, those. it shows a sharp change in the positions of market participants. Thus, the indicator becomes indispensable for analysis in conjunction with other indicators MetaCOT series. In addition, Movement Index is not available in other programs that provide access to the CFTC reports.
More details about the method of calculating this indicator can be found in the article Project Meta COT – New Horizons CFTC Report Analysis in MetaTrader 4.
The following are the basic parameters of the indicator and their meaning:
- Source of Report – form D-COT report. There are two types of reports: only futures (Futures Only) and futures and options (Futures And Options);
- Group of Traders – group of participants D-COT report;
- Period – calculation period or Willco COT index. Recommended values are: 26, 52 and 156 weeks;
- Movement Period – The period between two index points. The default is 6 weeks;
- Movement Type – Type of index calculation. The indicator may be calculated as the classic D-COT index and at Willco;
- Critical Value – The critical value, exceeding which, the indicator will indicate the likely change in trend.
This indicator is used to analyze the product markets (metals, oil and gas, food, feed). For the analysis of financial markets (currencies, indices, bonds), use the TFF series of indicators, in particular, you can use the indicator Movement Index TFF.
For the indicator need to download and install the CFTC reports to your computer, which you need to 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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