PROTECTED SOURCE SCRIPT
Updated CoT_MK_WillCo_Index
The WillCo MK Index (Commercials, volume-adjusted) is a weekly oscillator that measures how strongly Commercial traders are positioned relative to total market size (Open Interest). It calculates the net Commercial position (Long minus Short), divides it by Open Interest to normalize for market volume, then scales that ratio to a 0–100 range over a user-defined lookback period (default 26 weeks). Readings near 100 indicate exceptionally strong Commercial net-long exposure (bullish extreme), while readings near 0 reflect heavy Commercial shorting or lack of longs (bearish extreme). Traders use WillCo MK to spot potential turning points by following smart-money extremes that often anticipate price reversals.
Release Notes
The WillCo MK Index (Commercials, volume-adjusted) is a weekly oscillator that measures how strongly Commercial traders are positioned relative to total market size (Open Interest). It calculates the net Commercial position (Long minus Short), divides it by Open Interest to normalize for market volume, then scales that ratio to a 0–100 range over a user-defined lookback period (default 26 weeks). Readings near 100 indicate exceptionally strong Commercial net-long exposure (bullish extreme), while readings near 0 reflect heavy Commercial shorting or lack of longs (bearish extreme). Traders use WillCo MK to spot potential turning points by following smart-money extremes that often anticipate price reversals.Release Notes
The quantile (percentile) calculation is now always performed on a weekly basis, regardless of the chart timeframe.Release Notes
Fixed: The WillCo Index now correctly displays the value for the completed week on the corresponding week in the chart. Previously, the value was shifted by one week, showing last week’s percentage for the current week. This issue is now resolved for the weekly chart.Note: On daily or lower timeframes, TradingView always displays the last completed weekly value for all days of the current week.
Release Notes
The WillCo Index now uses daily CoT data, so weekly values are always up to date and match the latest official CoT report without any lag or shift.Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.