Step chart of CCI - indicator for MetaTrader 5

Basics :

CCI (Commodity Channel Index) is well known and is widely used indicator. Sometimes it is used in a combination of some filtering method in order to avoid some of the false signals that CCI might produce in some market conditions. This is one more version that will attempt to address the issue by using a filter on CCI

This version :

This version is using step chart as a filter to lessen the number of signals produced by CCI and (if possible) to make it easier and safer to use. The step size is to be entered as CCI units that you wish to be used as a filter for minimal CCI change that should be considered as a significant change

Usage :

Use color change of the step bar as signals