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Joe
The COT Proxy is supposed to simulate the COT data for a commodity.
This is how I understand it works but someone else may want to
comment.
Larry Williams uses COT data of commercial traders as a setup. The
commercials are the major players in the market.
You take the COT net position of the commercial traders for a
commodity i.e. the numbers of commercial traders long less those
short and plot it . Normally you will find that they will move in
the opposite direction to the market. i.e. if you make candy and
want to buy sugar the best time to buy it is when the market is
declining, the cheaper it is the more buying goes on and eventually
the market turns around and starts going up.
So you can use the COT data to confirm a trend or if at an extreme
usually a market turn around is near. The problem is there is
sometimes a week or two between the COT and market peaks/troughs.
The COT proxy simulates the real COT data, it's a very rough
approximation and only follows the real data at times. COT data is
weekly and probably only good for a setup.
Hope that helps?
Peter
--- In amibroker@xxxxxxxxxxxxxxx, "Joe Landry" <jelandry@xxxx> wrote:
> Bob Peter - Can you help in interpreting the plot? It seems like
when the price line comes down, the COT or CPI goes up.
> Could this be the inverted? Also what moving averages do you
think would be appropriate? 5-10 bars?
>
> As I'm keying this I realize I should have researched the article
that someone so helpfully provided.
>
> Thanks in advance
> JOE
> ----- Original Message -----
> From: Peter
> To: amibroker@xxxxxxxxxxxxxxx
> Sent: Wednesday, June 08, 2005 10:22 PM
> Subject: [amibroker] Re: larry williams commercial proxy index
>
>
>
> You don't have to get the COT data, the indicator simulates it.
> Basically its
> the moving average of ((Open - close)/ moving average of (high -
low))
> *100
>
> Peter
>
> --- In amibroker@xxxxxxxxxxxxxxx, "pennellp2000"
<pennellp2000@xxxx>
> wrote:
> > I attended a free seminar by larry williams recently. He
talked
> about
> > an indicator he uses called commercial proxy index. He says it
gives
> > him an idea of what the major buyers and sellers are doing. He
says
> it
> > is based on work he did on commitment of traders data. It is
an
> > oscillator. Apparently it relies on price data only. Anyone
have any
> > ideas on how it is created? Thanks in advance. Phill
>
>
>
>
>
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