This is a standard Commodity Channel Index (CCI), in which ultralinear smoothing with the help of the CJurX class from the SmoothAlgorithms.mqh library is used instead of a common one (the file must be placed to the terminal_data_folder\MQL5\Include). The use of the class was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
Final indicator was smoothed using the CJJMA class from the same file. All common elements of the technical analysis using standard CCI can be applied to this indicator.
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/435
The indicator is a combination of the FATL digital filter and analogue JMA adaptive smoothing.RBCI
Range Bound Channel Index (RBCI) digital filter removes low frequency trend, generated by low frequency spectrum components, and high frequency noise, generated by high frequency spectrum components.