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2011.10.21 10:56
Indicators

XCCI - indicator for MetaTrader 5

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xcci.mq5 (8.48 KB)view
xcci_bb.mq5 (11.93 KB)view
\MQL5\Include\

This indicator is a standard Commodity Channel Index with the standard average deviation formula and the possibility to select smoothing algorithm and dynamically changing oversold/overbought levels.

The only difference of this indicator from its standard equivalent is the possibility to change the smoothing algorithm by selecting an appropriate one out of ten algorithms present:

  1. SMA - simple moving average;
  2. EMA - exponential moving average;
  3. SMMA - smoothed moving average;
  4. LWMA - linear weighted moving average;
  5. JJMA - JMA adaptive average;
  6. JurX - ultralinear smoothing;
  7. ParMA - parabolic smoothing;
  8. T3 - Tillson's multiple exponential smoothing;
  9. VIDYA - smoothing with the use of Tushar Chande's algorithm;
  10. AMA - smoothing with the use of Perry Kaufman's algorithm.

It should be noted that Phase parameter has completely different meaning for different smoothing algorithms.

  • For JMA it is an external Phase variable changing from -100 to +100.
  • For T3 it is a smoothing ratio multiplied by 100 for better visualization;
  • For VIDYA it is a CMO period, for AMA it is a slow EMA period;
  • For AMA fast EMA period is a fixed value and is equal to 2 by default. The ratio of raising to the power is also equal to 2 for AMA.

Oversold/overbought levels are indicated in dynamically changing variant based on the Bollinger Bands ® to provide more accurate work with them.

The indicator uses SmoothAlgorithms.mqh library classes (must be copied to the terminal_data_folder\MQL5\Include). The use of the classes was thoroughly described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".

XCCI_BB indicator

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/490

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