Williams Commercial Index indicator
The Williams Commercial Index (Willco) was created by Larry Williams for calculation of the relation of open positions (NET) to open interests (OI). The main algorithm is based on the fast stochastic formula (%K).
The indicator retrieves values for calculation from “COT Legacy” reports which is published at CFTC. It extracts data for computation of three groups known as "Noncommercial", "Commercial" and "Nonreportable".
When you launch it first, the indicator will download necessary reports, save them on disk and analyze data. Also, the trader shouldn't update reports, because the indicator itself controls this process. Time for update is Friday after 16:00 (by default), but you can change it.
All what you need is to choose the right future, specify the history depth and select required groups.Notice: Recommended timeframes are Daily or Weekly.