johnwong wrote: Tue Jan 15, 2019 12:31 pm
Mrtool, please help me
I saw Larry Williams'COT index on a foreign website. We all know that COT index uses the report of the Commodity Futures Commission of the United States, but he invented a different index. After observing for a day, I found it still impossible to use it, some helpless. And he mentioned an explosive market the next day. How can we use BO index to predict the second place? Days? Can you help me?
Hey, brothers, can we talk about this?
BlastOff
The BO compares the Open and Close versus the High and Low of a day. If the difference between the open and close of the day is less than 20% of the range of the day, then it's likely that the next day will be a pretty good size move.
Larry Commerical Proxy Index (LCPI)
The proxy tries to emulate the COT report in markets that have no COT
Larry Large Trade Index (LWTI)
The exact number isn't important because it is a rough estimation. What is important is the general trend and a kind of overbought > 100/oversold < -100.