Williams x Briese Hybrid CoT Index

12 jam lalu

After studying the below CoT (Commitments of Traders) books from ICT's recommended library, I learned that both Larry Williams and Stephen Briese use the same formula for their CoT Index:

COT Index = ((Current Net Position - Lowest Net Position) / (Highest Net Position - Lowest Net Position)) * 100 using a 3-Year lookback period.

Books:

• Trade Stocks and Commodities with the Insiders: Secrets of the COT Report by Larry Williams
  
• The Commitments of Traders Bible: How To Profit from Insider Market Intelligence by Stephen Briese
  

Williams and Briese differ in their plotting of the CoT Index formula in the following ways:

• Williams uses a line plot, with thresholds at 25% & 75%
  
• Briese uses a histogram plot, with thresholds at 5% & 90%
  

I decided to make a "hybrid" indicator of their CoT Index by using Larry Williams' classic line plot instead of a histogram, but with Briese's stricter thresholds of 5% and 95%.

The code is a bit of a remix of the "ICT Commitment of Traders°" indicator by toodegrees and is meant for use in a new pane below a Weekly Chart.

You can complement your usage of this indicator with another indicator I've published as shown in the chart above: Briese CoT Movement Index, which you can find on my scripts page. For proper usage, refer to The Commitments of Traders Bible and Trade Stocks and Commodities with the Insiders

As it is, this indicator incorporates the ±40 point "surge" from the Briese CoT Movement Index indicator in the form of labels that are visible above a below the 100% and 0% levels. The green labels at the top indicate buying surges >=40 while the black labels at the bottom indicate selling surges <=-40. If you hover over these labels, you'll see the tooltip for the value of the Movement Index. Again, if you complement this Williams x Briese Hybrid CoT Index with the Briese CoT Movement Index, you'll see the labels from the index align with the points on the histogram which exceed the ±40 levels.

11 jam lalu

Nota Keluaran

After studying the below CoT (Commitments of Traders) books from ICT's recommended library, I learned that both Larry Williams and Stephen Briese use the same formula for their CoT Index:

COT Index = ((Current Net Position - Lowest Net Position) / (Highest Net Position - Lowest Net Position)) * 100 using a 3-Year lookback period.

Books:

• Trade Stocks and Commodities with the Insiders: Secrets of the COT Report by Larry Williams
  
• The Commitments of Traders Bible: How To Profit from Insider Market Intelligence by Stephen Briese
  

Williams and Briese differ in their plotting of the CoT Index formula in the following ways:

• Williams uses a line plot, with thresholds at 25% & 75%
  
• Briese uses a histogram plot, with thresholds at 5% & 90%
  

I decided to make a "hybrid" indicator of their CoT Index by using Larry Williams' classic line plot instead of a histogram, but with Briese's stricter thresholds of 5% and 95%.

The code is a bit of a remix of the "ICT Commitment of Traders°" indicator by toodegrees and is meant for use in a new pane below a Weekly Chart.

You can complement your usage of this indicator with another indicator I've published as shown in the chart above: Briese CoT Movement Index, which you can find on my scripts page. For proper usage, refer to The Commitments of Traders Bible and Trade Stocks and Commodities with the Insiders

As it is, this indicator incorporates the ±40 point "surge" from the Briese CoT Movement Index indicator in the form of labels that are visible above a below the 100% and 0% levels. The green labels at the top indicate buying surges >=40 while the black labels at the bottom indicate selling surges <=-40. If you hover over these labels, you'll see the tooltip for the value of the Movement Index. Again, if you complement this Williams x Briese Hybrid CoT Index with the Briese CoT Movement Index, you'll see the labels from the index align with the points on the histogram which exceed the ±40 levels.

11 jam lalu

Nota Keluaran

After studying the below CoT (Commitments of Traders) books from ICT's recommended library, I learned that both Larry Williams and Stephen Briese use the same formula for their CoT Index:

COT Index = ((Current Net Position - Lowest Net Position) / (Highest Net Position - Lowest Net Position)) * 100 using a 3-Year lookback period.

Books:

• Trade Stocks and Commodities with the Insiders: Secrets of the COT Report by Larry Williams
  
• The Commitments of Traders Bible: How To Profit from Insider Market Intelligence by Stephen Briese
  

Williams and Briese differ in their plotting of the CoT Index formula in the following ways:

• Williams uses a line plot, with thresholds at 25% & 75%
  
• Briese uses a histogram plot, with thresholds at 5% & 90%
  

I decided to make a "hybrid" indicator of their CoT Index by using Larry Williams' classic line plot instead of a histogram, but with Briese's stricter thresholds of 5% and 95%.

The code is a bit of a remix of the "ICT Commitment of Traders°" indicator by toodegrees and is meant for use in a new pane below a Weekly Chart.

You can complement your usage of this indicator with another indicator I've published as shown in the chart above: Briese CoT Movement Index, which you can find on my scripts page. For proper usage, refer to The Commitments of Traders Bible and Trade Stocks and Commodities with the Insiders

As it is, this indicator incorporates the ±40 point "surge" from the Briese CoT Movement Index indicator in the form of labels that are visible above a below the 100% and 0% levels. The green labels at the top indicate buying surges >=40 while the black labels at the bottom indicate selling surges <=-40. If you hover over these labels, you'll see the tooltip for the value of the Movement Index. Again, if you complement this Williams x Briese Hybrid CoT Index with the Briese CoT Movement Index, you'll see the labels from the index align with the points on the histogram which exceed the ±40 levels.

10 jam lalu

Nota Keluaran

Code updated with comment ~

NOTE: This indicator only works with futures contracts, such as on the symbols/codes for:
DX1
6E1
6A1
6B1
6N1
6C1
6S1
6J1
6M1
6Z1
SI1
GC1
PA1
PL1
HG1
BTC1
ETH1
ES1
NQ1
NIY1
CL1
NG1
HO1
RB1
ZB1
ZS1
LE1
HE1
CC1

10 jam lalu

Nota Keluaran

Image updated