When he does his "Off the Charts" segments he is a reasonable and well-thought out commentator. And I saw his Off the charts segment in June where he pulled in the Williams indicators, and Williams made good on his bottom call. With some slippage of course, but to be expected.
From my understanding it's more for gleaning higher timeframe positioning (months/weeks) and dance between the Commercials and Large Speculators.
Yes, that is exactly it. It is not meant for intraday scalpers, but more for position traders and investors.
Yes I was well aware of it back then but for some stupid reason still thought it might help intraday. Though good luck longer term making heads or tails of it.
I don't think it's helpful for long-term or swing trading either. It may have been in the 70s and 80s when Larry Williams and other first started using it. I've played around with several systems, but they seemed to lose their edge (if they ever had one in the first place). It's very lagging and anything simple like that has been arbitraged away by now. It's not like 40-50 years ago when data was harder to find and you had to do computations by hand or hand calcuator (or computer punch cards if you were one of the select few with those skills). Back then you may find edges with things like COT or Turtle type systems. Of course I'm sure you could play with the data, over-optimize combinations of it and design a system that happens to give good results in backtests. That would simply be curve-fitting though.
Found these two resources for crypto in aggregated info, maybe it's like COT report, not clear yet. https://alpha.thekingfisher.io/ybc0 https://charts.aggr.trade/dex1
Forgot I had this link:- https://www.theblock.co/data/crypto...egated-open-interest-of-bitcoin-futures-daily