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Indicators

CCI variation - indicator for MetaTrader 5

Mladen Rakic

Views:
990
Rating:
votes: 9
Published:
2018.11.01 14:06

Theory :

The commodity channel index (CCI) is an oscillator originally introduced by Donald Lambert in 1980. It is calculated as :

(price - average) / (0.015 * mean absolute deviation)

This version :

In this version we are adding (changing) the following :

  • option to change the mean absolute deviation to  :
    • standard deviation
    • atr (average true range)
  • option to chose to smooth the value of such a "cci"
  • option to change color on zero crosses or on slope direction change

What is the same as in regular CCI (if smoothing is not used):

- the crosses of the zero line will always be exactly the same as in regular CCI (regardless if you use atr or standard deviation for calculation)

What is different :

- levels are not going to be the same (that will eventually need adjustments if you are used to use levels when using CCI for trading decisions)

- slope of the cci is not going to be the same

Usage :

You can use the color changes for signals


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