CCI Filter
hi all,
i always admired the cci (woodie and drbob studies) however i am trying to simplify the entries and the exits signals. Also in needed to filter those signals.
i used the RSI Filter. i modified this filter to illustrate the shift in trend.
trend is up when cci50 >0 and strong upward when cci50 >100
trend is down when cci50<0 and very strong downward when cci<-100
comment pls.This indicator is on a bar mode not a histogram or a line mode. How can I put levels -100, 0, and 100 on this indicator?
bar color change
hi devil2000,
color of the bars is changing according to the cci value
cci value 0 to 99 bar color is light blue
cci value 100+ bar color is blue
cci value 0 to -99 bar color is orange
cci value 100- bar color is red
regards,
hi devil2000,
color of the bars is changing according to the cci value
cci value 0 to 99 bar color is light blue
cci value 100+ bar color is blue
cci value 0 to -99 bar color is orange
cci value 100- bar color is red
regards,Hi nnjeim, thanks for your explanation.
Do we have to wait until the bar is fully perform to get a valid color?
Hi,nnjeim,
Nice indicator, thanx for that.
I am playing with three on three settings, +50,+100,+150 and when they all show same colour thats your entry etc. Also adding the CZI for added confirmation. These kind of indicators are easy to read so nice work.
Being able to overlay this as per FX Snipers sidewinder would be nice saving indicator and screen space, but i dont know how to do this. Having multiples of this kind of indicator in one window would be neat.
Lots of possibilities here for changing entry criteria, very long CCI's giving coloured bars on differing entries at differant levels etc. is very good.
Cheers nnjein.
napeharm
commentary
as i mentioned i am trying to simplify things:
dr bobs (50/14) setup suggests that you enter a position until a complete bar is completed. ( no a la woodie timing issue). Therefore it is essential to wait for a complete bar to be formed. On lower timeframes you are late when you wait for this to happen. I moved back to the 14/6 setup but still needed the trend direction confirmation from the cci50.
find an attached image of the setup.
explanation
hi nepeharm,
could you explain more on your strategie?
Hi, nnjeim,
My strategy is quite simple using three cci's. Entry is using a 150cci when it crosses a +50/-50 line. This CCI also gives the overall trend and signals are taken in its direction at other times . For other entries and re-entries other than the 150CCI cross,i use a 14 cci crossing the +50/-50 line and for further entries, whilst the 14 is above or below zeroline already, the 6cci including ZLR's-all taken in the direction of the 150CCi.
I am using a 5 min GBP/USD and all the cci's are overlaid, that is on top of one another in one indicator window. I have placed the CCI FIlter in the background to add further visual confirmation changing colour with the cross of the 150CCI when its above the +50/-50 entry line.
The length of CCI and entry techniques is a subjective one and i dont use much of Woodies stuff except really the ZLR using either 14 or 6 cci in the context of a longer CCI in this case the 150cci.
Its really quite simple and any length of CCI can be used whatever your preferences are and according to what you understand. All signals are taken in accordance with news events and important areas of support and resistance and are therefore discretionary as usual.
napeharm
Napeharm
Are you waiting for the candle completion before doing a trade? I have seen many indicators similar to this, but only to get kill in some trades because of the sudden turn in price action [this happens in both news and non-news day]. Which TF do you recommend this strategy?
Hi,
Using 5 min timeframe as stated. As for candle completion, nope, i am not waiting for the candle to complete. Partly because the price will often have fallen through some support or resistance point or across one of my moving average levels at the time of the candle anyhow, thus confirming the trade is in progress. Hence, it is not necessary for the candle to complete.
napeharm
cci 150
i never read about a strategy based on cci 150.
i will give it a try and back test it.
besides that i posted in the manual strategies forumn a strategy based on
3 emas : 14, 34, 50
price action around those emas is equivalent to the the reading of cci 14/34/50
i am using the "ma in color" to plot those indicator.
i would like to monitor a zlr on the chart rather on an indicator.
watch for the action of the price around the ema34 !!!!
isn't a continuation of the trend when cci 14 goes >0 when cci50 >0
all this action can be watched on the chart itself !!!
isn't a TLB can be spoted by the price crossing a drawn trendline?
isn't a HFE a hammer on a bollinger band ?
i could spot most of the woodie patterns on the chart itself....
kindly comment.....
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hi all,
i always admired the cci (woodie and drbob studies) however i am trying to simplify the entries and the exits signals. Also in needed to filter those signals.
i used the RSI Filter. i modified this filter to illustrate the shift in trend.
trend is up when cci50 >0 and strong upward when cci50 >100
trend is down when cci50<0 and very strong downward when cci<-100
comment pls.