The Inner Circle Trader's Millionaire Traders Guild

simr · October 15, 2012, 3:14pm

Hi Michael,

IN the latest TDP series video , at minute 8:30 you mention that while analysing daily charts , OI is an indication of net commercial short selling .

I have a doubt here. Should nt determining OI indication be gauged against the PA ? Meaning for example if Price up and OI up = fresh longs OR price down and OI increasing = fresh shorts being built up ?

Please clarify this since I am kinda confused by your statement .

regards

sentinel · October 15, 2012, 3:26pm

Where can I see thse videos? I clicked on the download link about a text file and it wanted me to register first. Also the link in post #5122 points to the same page where I click the link.

peterma · October 15, 2012, 3:47pm

First page this thread, trading plan development series, video no.4 - no registering needed.

Better to start at the first though.

peterma · October 15, 2012, 3:52pm

Top right of page - ‘Rate This Thread’ - absolutely 5 Stars - come on you ICT followers.

popinjay · October 15, 2012, 4:46pm

For some reason my setting was at 4 starts, and I don’t recall ever voting cause I would have definitely voted 5. Promptly changed to 5 stars!

edit: Well, actually it looks like it can’t be changed? WTH? Tech glitch…never voted to begin with I’m sure

didko · October 15, 2012, 5:33pm

Did anyone record the seminar yesterday?

JayByrd · October 15, 2012, 6:48pm

I just opened this thread to ask the same thing. I was registered but couldn’t make it. I sure hope I can still see it.

cskrishna · October 15, 2012, 7:26pm

Shausfx,

I installed all the files and I could see the indicators on the MT4 charts. If there is any document related to the following questions, can you please let me know.

I have a couple of questions:

In the indicator properties there is a parameter cot_file and it has a value of COT - U.S. DOLLAR CONCATENATE.csv. Do I need to change it for different currencies?
There is another properties of the indicator Show_iOI. What is this?
If we want to plot this indicator for other currencies, like EurUsd, do we need to change any of the ini files?
I have 2011 and 2012 futures and options txt files. If I want to include 2010 do I need get that files and add it in the appropriate folder?
There are multiple indicators as part of this package. Is Meta COT Index the indicator which Larry Williams talks in the chapter 4 of his book?

Thank you so much for all your help.

Csk.

When_Pips_Fly · October 15, 2012, 8:22pm

Looking forward to rewatching Chris Lori’s part of the webinar last night.

Because whenever I hear him say, and I paraphrase, “price moves to the less liquid side of the market” I feel like this revelation should cause a eureka moment for me but I’m left dumbfounded.

Does anyone have anything to say about “price moves to the less liquid side of the market”?

Caver · October 15, 2012, 8:45pm

When Pips Fly,
Price has already sought out the pockets of stops and then releases to the opposite direction that the market movers want price to go.So, new territory in movement less liquid side of the market. Price is being pulled away from fair value. Hope this helps.

PIP-JITSU · October 15, 2012, 8:57pm

The ICT INDICATORS from the download is a .zip file, can anyone explain how to get this into my MT4 platform please?

When_Pips_Fly · October 15, 2012, 9:02pm

Ok…

So let’s look at the EUR/USD example. At this moment (21:00 EST 10/15/2012), it’s the Asian Session. Looks like stops were triggered at 1.2975 at 19:30 EST and now price is headed to the less liquid side of the market, which is “down.”

Am I almost there?

rod178 · October 15, 2012, 9:03pm

unzip
add the extracted indicator files to the mt4 experts->indicator directory with Windows Explorer.

rod178 · October 15, 2012, 9:17pm

I suspect that most, although not all, short stops are sitting a little above 12980. If going lower I’d further suspect that they would take out these first.

PIP-JITSU · October 15, 2012, 9:17pm

AWESOME, it worked rod178…Thanks mucho, I didn’t know that was possible. Good Trading and Thanks again:)

When_Pips_Fly · October 15, 2012, 9:22pm

rod178, when you say short stops, these are the stops of people who are “long when they shouldn’t be,” right?

rod178 · October 15, 2012, 9:32pm

people who are short at ‘under’ 12980 and have a stop at about 12980

whether or not they should be long or short remains to be seen

IyaJenkei · October 15, 2012, 9:35pm

Somebody record the QA in the chat room for me lol

anon10665397 · October 16, 2012, 1:22am

cskrishna:

Shausfx,

I installed all the files and I could see the indicators on the MT4 charts. If there is any document related to the following questions, can you please let me know.

I have a couple of questions:

In the indicator properties there is a parameter cot_file and it has a value of COT - U.S. DOLLAR CONCATENATE.csv. Do I need to change it for different currencies?

There is another properties of the indicator Show_iOI. What is this?

If we want to plot this indicator for other currencies, like EurUsd, do we need to change any of the ini files?

I have 2011 and 2012 futures and options txt files. If I want to include 2010 do I need get that files and add it in the appropriate folder?

There are multiple indicators as part of this package. Is Meta COT Index the indicator which Larry Williams talks in the chapter 4 of his book?

Thank you so much for all your help.

Csk.

The document relating to the Cot Mt4 Indicators can be found here Metacot Project. Mr Vasilly, the creator of these indicators is Russian so the document is somewhat hard to understand as it has been directly translated from russian into english.

No you do not need to change it for different currencies.
This is to show open interest. Please see screenshots below.
No you do not
I have packaged all history into the 2011 text file. All history that was available on the CFTC website has been added to that textfile. For example the COT index should go as far back as 1999 for EURUSD
Yes the Meta COT Index is exactly what Larry Williams talks about in his book on chapter 4.

Comparing timingcharts.com with MT4 COT Indicators. (blue= commercials, green= large specs, red= non reportables, [U]no open interest[/U])
EURUSD

Comparing timingcharts.com with MT4 COT Indicators. (blue= commercials, green= large specs, red= non reportables, grey=open interest)
EURUSD

Settings
-[B] Period[/B] is set to 52 weeks in the screenshot. Larry Williams use a 3 year lookback period in his book (156 week)

[B]Noncomm[/B]- Non commercials traders (large specs)
[B]Operators[/B]- Commercials
[B]Non rep[/B]- Non reportable (small specs)
[B]Show OI[/B] - Open Interest
[B]Reverse mode[/B] is only set to true for currencies in which the USD is quoted first eg: Japanese Yen, Canadian Dollar etc. This is because in the futures market the currency in question is always quoted first. For example if you had to look at the Japanese Yen futures chart it would be the mirror image of the USDJPY chart. Therefore when you add the COT index to your mt4 chart for USDJPY then set reverse mode to true.

[U]Other notes:[/U]

The indicators do not work for all charts. Here is a screenshot of the indicators [U]not working[/U] USDX. For whatever reason the indicators do not work for the USDX.
The Cot Indicators where programmed to be used on Brocotrader, so this could be a MT4 broker issue. As you can see I use Winsor. As far as I know the indicators all work on Brocotrader.

cskrishna · October 16, 2012, 1:54am

Thank you so much.
I got it working.
One quick question, the tops and the bottoms of the indicator are getting trimmed. Did you find a way to work around that?
This should not be a problem but just wanted to findout.

Thank you once again.

anon10665397:

The document relating to the Cot Mt4 Indicators can be found here Metacot Project. Mr Vasilly, the creator of these indicators is Russian so the document is somewhat hard to understand as it has been directly translated from russian into english.

No you do not need to change it for different currencies.

This is to show open interest. Please see screenshots below.

No you do not

I have packaged all history into the 2011 text file. All history that was available on the CFTC website has been added to that textfile. For example the COT index should go as far back as 1999 for EURUSD

Yes the Meta COT Index is exactly what Larry Williams talks about in his book on chapter 4.

Comparing timingcharts.com with MT4 COT Indicators. (blue= commercials, green= large specs, red= non reportables, [U]no open interest[/U])
EURUSD

Comparing timingcharts.com with MT4 COT Indicators. (blue= commercials, green= large specs, red= non reportables, grey=open interest)
EURUSD

Settings
-[B] Period[/B] is set to 52 weeks in the screenshot. Larry Williams use a 3 year lookback period in his book (156 week)

[B]Noncomm[/B]- Non commercials traders (large specs)

[B]Operators[/B]- Commercials

[B]Non rep[/B]- Non reportable (small specs)

[B]Show OI[/B] - Open Interest

[B]Reverse mode[/B] is only set to true for currencies in which the USD is quoted first eg: Japanese Yen, Canadian Dollar etc. This is because in the futures market the currency in question is always quoted first. For example if you had to look at the Japanese Yen futures chart it would be the mirror image of the USDJPY chart. Therefore when you add the COT index to your mt4 chart for USDJPY then set reverse mode to true.

[U]Other notes:[/U]

The indicators do not work for all charts. Here is a screenshot of the indicators [U]not working[/U] USDX. For whatever reason the indicators do not work for the USDX.
The Cot Indicators where programmed to be used on Brocotrader, so this could be a MT4 broker issue. As you can see I use Winsor. As far as I know the indicators all work on Brocotrader.