OPEN-SOURCE SCRIPT

COT INDEX v2

The **Commitment of Traders (COT)** report is a valuable tool for analyzing market sentiment, providing insight into the positions of futures traders at the close of the Tuesday trading session. Prepared by the Commodity Futures Trading Commission (CFTC), the report is published every Friday at 3:30 p.m. Eastern Time, and the data is freely available on the CFTC website.

Traders are categorized into three groups: **Commercial Traders**, **Non-Commercial Traders** (large speculators), and **Nonreportable** (small speculators). This information can be applied to charts to visualize the direction of the positions held by major market participants and to receive key COT signals.

The **COT index** ranges from 0% to 100%, reflecting market sentiment over the past 26 weeks. Extreme values, below 25% or above 75%, represent bearish or bullish sentiment, respectively. However, it is important to note that the COT index is not a timing tool but rather an indicator of the overall sentiment of major market players.

For a more tailored analysis, you can adjust the period for index calculation, customize chart styles, and highlight extreme areas.
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