CoT-Mike-Long&Short Quantile

11 mag

CoT-Mike-Long&Short visualizes the weekly net positions of commercial traders (Commitments of Traders, COT) for both long and short sides. The indicator calculates the highest and lowest values of commercial long and short positions over a user-defined lookback period (default: 208 weeks) and plots customizable quantile lines (default: 75% and 25%) for both sides.

By default, only the short side is displayed, but you can enable the long side in the settings.
The 25% and 75% quantile lines are used to identify extreme positioning of commercials. When commercial positions reach these extreme levels, it often signals potential market turning points, as commercials are considered the "smart money" and tend to act against the prevailing market trend. These quantile levels help traders spot overbought or oversold conditions and filter out less significant signals, supporting a more disciplined and contrarian trading approach.

Features:
• Weekly-based calculation, independent of the chart timeframe
• Customizable lookback period (in weeks)
• Adjustable quantile levels (e.g. 75%/25%, 80%/20%, etc.)
• Option to display only shorts, only longs, or both
• Visualizes key levels for both long and short positions
• Useful for identifying extreme positioning and potential market turning points

How to use:
Add the indicator to your chart
Adjust the lookback period and quantile levels if needed
Enable or disable the display of long/short positions as desired
Use the quantile lines to spot overbought/oversold conditions in commercial positioning
Note: The data is always calculated on a weekly basis, regardless of your current chart timeframe.

6 giorni fa

Note di rilascio

The quantile (percentile) calculation is now always performed on a weekly basis, regardless of the chart timeframe.

I’ve updated the indicator’s color scheme so that all upper quantile bands now display in green (bullish sentiment) and all lower quantile bands in red (bearish sentiment), including Long, Short (inverted), and Net series. The zero‐line has also been changed to a more visible gray dashed style.