OPEN-SOURCE SCRIPT
COT Index v.2
COT Index v.2 Indicator
( fix for extreme values)
📊 Overview
The COT (Commitment of Traders) Index Indicator transforms raw COT data into normalized indices ranging from 0-100, with extensions to 120 and -20 for extreme market conditions. This powerful tool helps traders analyze institutional positioning and market sentiment by tracking the net long positions of three key market participant groups.
🎯 What It Does
This indicator converts weekly CFTC Commitment of Traders data into easy-to-read oscillator format, showing:
Commercial Index (Blue Line) - Smart money/hedgers positioning
NonCommercial Index (Orange Line) - Large speculators/funds positioning
Nonreportable Index (Red Line) - Small traders positioning
📈 Key Features
Smart Scaling Algorithm
0-100 Range: Normal market conditions based on recent price action
120 Level: Extreme bullish positioning (above historical maximum)
-20 Level: Extreme bearish positioning (below historical minimum)
Dual Time Frame Analysis
Short Period (26 weeks default): For current market scaling
Historical Period (156 weeks default): For extreme condition detection
Flexible Data Sources
Futures Only reports
Futures and Options combined reports
Automatic symbol detection with manual overrides for HG and LBR
🔧 Customizable Settings
Data Configuration
Adjustable lookback periods for both current and historical analysis
Report type selection (Futures vs Futures & Options)
Display Options
Toggle individual trader categories on/off
Customizable reference lines (overbought/oversold levels)
Optional 0/100 boundary lines
Adjustable line widths and colors
Reference Levels
Upper Bound: 120 (extreme bullish)
Overbought: 80 (default)
Midline: 50 (neutral)
Oversold: 20 (default)
Lower Bound: -20 (extreme bearish)
💡 Trading Applications
Contrarian Signals
High Commercial Index + Low NonCommercial Index = Potential bullish reversal
Low Commercial Index + High NonCommercial Index = Potential bearish reversal
Market Sentiment Analysis
Track institutional vs retail positioning divergences
Identify extreme market conditions requiring attention
Monitor smart money accumulation/distribution patterns
Confirmation Tool
Use alongside technical analysis for trade confirmation
Validate breakouts with positioning data
Assess market structure changes
📊 Visual Elements
Status Table: Displays current settings and symbol information
Color-Coded Lines: Easy identification of each trader category
Reference Levels: Clear overbought/oversold boundaries
Extreme Indicators: Visual cues for unusual market conditions
⚠️ Important Notes
COT data is released weekly on Fridays (Tuesday data)
Best suited for weekly and daily timeframes
Requires symbols with available CFTC data
Works automatically for most futures contracts
🎯 Best Practices
Use in conjunction with price action analysis
Look for divergences between price and positioning
Pay special attention to extreme readings (120/-20 levels)
Consider all three indices together for complete market picture
Allow for data lag (3-day delay from CFTC)
This indicator is ideal for swing traders, position traders, and anyone interested in understanding the positioning dynamics of professional vs retail market participants.
( fix for extreme values)
📊 Overview
The COT (Commitment of Traders) Index Indicator transforms raw COT data into normalized indices ranging from 0-100, with extensions to 120 and -20 for extreme market conditions. This powerful tool helps traders analyze institutional positioning and market sentiment by tracking the net long positions of three key market participant groups.
🎯 What It Does
This indicator converts weekly CFTC Commitment of Traders data into easy-to-read oscillator format, showing:
Commercial Index (Blue Line) - Smart money/hedgers positioning
NonCommercial Index (Orange Line) - Large speculators/funds positioning
Nonreportable Index (Red Line) - Small traders positioning
📈 Key Features
Smart Scaling Algorithm
0-100 Range: Normal market conditions based on recent price action
120 Level: Extreme bullish positioning (above historical maximum)
-20 Level: Extreme bearish positioning (below historical minimum)
Dual Time Frame Analysis
Short Period (26 weeks default): For current market scaling
Historical Period (156 weeks default): For extreme condition detection
Flexible Data Sources
Futures Only reports
Futures and Options combined reports
Automatic symbol detection with manual overrides for HG and LBR
🔧 Customizable Settings
Data Configuration
Adjustable lookback periods for both current and historical analysis
Report type selection (Futures vs Futures & Options)
Display Options
Toggle individual trader categories on/off
Customizable reference lines (overbought/oversold levels)
Optional 0/100 boundary lines
Adjustable line widths and colors
Reference Levels
Upper Bound: 120 (extreme bullish)
Overbought: 80 (default)
Midline: 50 (neutral)
Oversold: 20 (default)
Lower Bound: -20 (extreme bearish)
💡 Trading Applications
Contrarian Signals
High Commercial Index + Low NonCommercial Index = Potential bullish reversal
Low Commercial Index + High NonCommercial Index = Potential bearish reversal
Market Sentiment Analysis
Track institutional vs retail positioning divergences
Identify extreme market conditions requiring attention
Monitor smart money accumulation/distribution patterns
Confirmation Tool
Use alongside technical analysis for trade confirmation
Validate breakouts with positioning data
Assess market structure changes
📊 Visual Elements
Status Table: Displays current settings and symbol information
Color-Coded Lines: Easy identification of each trader category
Reference Levels: Clear overbought/oversold boundaries
Extreme Indicators: Visual cues for unusual market conditions
⚠️ Important Notes
COT data is released weekly on Fridays (Tuesday data)
Best suited for weekly and daily timeframes
Requires symbols with available CFTC data
Works automatically for most futures contracts
🎯 Best Practices
Use in conjunction with price action analysis
Look for divergences between price and positioning
Pay special attention to extreme readings (120/-20 levels)
Consider all three indices together for complete market picture
Allow for data lag (3-day delay from CFTC)
This indicator is ideal for swing traders, position traders, and anyone interested in understanding the positioning dynamics of professional vs retail market participants.
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.