COT Index & Positions by Novatrix Capital

This indicator visualizes the positioning of the two main groups from the CFTC COT reports: Commercials and Retail (Non-Reportables / Small Traders). Each group is displayed in two ways:

• Index (0–100) – normalized net positions to identify bullish or bearish extremes (standard cycle: 26 weeks, optionally 52 weeks).
  
• Raw Net Positions – actual long minus short positions.
  

Color coding on the chart:

• Commercial Index: Blue
  
• Commercial Positions: Blue
  
• Retail Index: Red
  
• Retail Positions: Red
  

Additional features:

• Reference lines for neutral, overbought, and oversold levels.
  
• Helps traders analyze market sentiment and the positioning of major participant groups.
  

Important notice:
Since COT data is published only once per week and the COT Index is built on cyclical multi-week analysis, the indicator is intended to be used exclusively on the weekly timeframe.
The selected cycle length (typically 26 weeks, optionally 52 weeks) determines how net positions are compared and normalized, and can influence how quickly extreme zones appear in the index lines.