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How to use COT on Footprint Chart


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How to use COT on Footprint Chart

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 Wipeout 
Springfield, Missuouri
 
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Hi, a question for the footprint chart practitioners. How to use the COT commitment of traders on a footprint chart. I am using the GOMI Footprint for NT8.

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  #3 (permalink)
DebayanSen
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Wipeout View Post
Hi, a question for the footprint chart practitioners. How to use the COT commitment of traders on a footprint chart. I am using the GOMI Footprint for NT8.

Hi ! Have you found out the answer to that yet?

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 Wipeout 
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DebayanSen View Post
Hi ! Have you found out the answer to that yet?

Hi, DebayanSen I have not got a answer but looking to understand it in the Gomi footprint charts sorry took me so long to reply just getting in front of my computer again after a long delay.

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 Popsicle 
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This is a nice high level explanation of COT.

https://www.mzpack.pro/trading-setups/what-is-cot-and-how-to-use-it-in-day-trading/

I am not affiliated with the vendor, just an explanation that made it clearer to me.

Hope it helps.

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Wipeout's Avatar
 Wipeout 
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Hi Popsicle, that was right under m nose I was on the MZpack site and some how missed it thanks that helps.

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 Silvester17 
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@Wipeout,

I tried to make a brief explanation what "cot" is and how it's calculated in this thread:





Silvester17 View Post
for new users of footprint (volume ladder) charts, some of the features may be a little overwhelming or difficult to understand. so hopefully a brief explanation will help. in most cases I used the original description from market delta:





- delta
displays the cumulative (net) delta for the entire bar. It is cumulative for the entire bar

- total volume
displays the total volume that occurred for each bar. It is cumulative for the entire bar

- unfinished auction
An “unfinished auction”, sometimes called “unfinished business”, is the term used to describe when the extreme price for a bar (either high, low, or both) has both buy AND sell volume

- poc
displays the highest volume at a specific price for this specific column

- min delta
displays the lowest overall delta value achieved for the entire bar. It is cumulative for the entire bar

- max delta
displays the highest overall delta value achieved for the entire bar. It is cumulative for the entire bar

- delta finish
This is the pullback of delta from it's last high or low. If Delta last bounced off it's high before completing bar, the finish will be negative (or zero). If Delta last bounced off it's low before completing bar, the finish will be positive (or zero)

- cot high
cumulates the delta (ask volume minus bid volume) in the bar tick after tick (trade after trade). But it is reset to 0 on the tick which is either a higher high (within the bar) or a repeat of the former high of the bar

- cot low
cumulates the delta (ask volume minus bid volume) in the bar tick after tick (trade after trade). But it is reset to 0 on the tick which is either a lower low (within the bar) or a repeat of the former low of the bar

the cot calculations are a little different from the original gom volume ladder. now we have a standardized definition, showing the same data on all platforms.

I tried to show/explain the cot from the original gom volume ladder here:



and here's how it looks like with the GomOrderFlowPro version:



and a much better explanation you can find in @gomi webinar. the "cot" part should start ~ 29:10



Silvester17 View Post
maybe it would be a good thing to add a link to gomi's webinar to this thread. he explained very well the different settings and how they work.






and thanks @gomi for a great webinar!!


also from gomi's pdf:




and here's an example for a possible setup:




there're many other useful posts about the "cot", unfortunately buried deep in various threads. it's almost 10 years since the beginning of it

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Last Updated on June 30, 2019


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