Just a short post. Blees sentiment rating is calculated based on the weekly COT report that released every Friday.
Blees is useful for determining the number that occurred in the market sentiment. blees rate of close to 100 means the market is overbought, conversely, a figure close to 0 means the market is oversold.
Blees numbers obtained from the calculation of extreme high and low price in 78 weeks. Then the difference between the COT figures this week with the extreme difference between low and high during the 78 weeks that's what made blees numbers.
For example, if an extreme low in 78 weeks is 20, and the extreme height is 80. Later this week COT value is 30, then Blees number for this week is ((30-20) / (80-20)) * 100 = 20 Blees.
So this short post, hopefully can bring benefits to you.
