Help to build a BB and CCI indicator
Hi,
i need an indicatori with thieese rules:
RULE 1 : If the Previous candle close above/below del bands the indicator must draw a dot above/below the bars.
If the first rule is find go to RULE 2.
RULE 2:If the broke is in downtrande, in the first opposite candle ( ex in downternd a positive candle), the indicator must draw another dot and the viceversa rules must be applied for the other direction. When open the new candle after the opposite one if the opposite candle was a red candle the cci must be below +100 level viceversa id the previous opposite candle was a green candle the cci must be above -100 level. If theese rules are respected the indicator draw a vartical line at the current candle viceversa if theese rules will not been respected the previous 2 dots must be cancelled.
The indicator must draw also the past if possible.
Thank youdassio
That same picture with one question (regrading the bars marked with red vertical lines) :
Some update?
Some update?
dasio
If we follow your rules to the letter there will be either signals only when CCI crosses predefined levels or no signals since the bollinger bands break out is never a clear break out (take a look at high and low prices at the points when there breakouts happens and it can be interpreted as breakout as well as retrace at the same time 90% of the time)
Maybe i have to define the rules.
Ok try it.
All the check must be done when the candle Close.
When a bars close above the upper band we must wait the first opposite candle , in this case positive. When this bars close if the CCI is above level -100 all the rules are trigger otherwise we must wait the next break of the BB.
When a bars close Below the Lower band we must wait the first opposite candle, in this case negative. When this bars close if the CCI is Below level +100 all the rules are trigger otherwise we must wait the next break of the BB.
I think it's ok ?!?!
Thx
Maybe i have to define the rules.
Ok try it.
All the check must be done when the candle Close.
When a bars close above the upper band we must wait the first opposite candle , in this case positive. When this bars close if the CCI is above level -100 all the rules are trigger otherwise we must wait the next break of the BB.
When a bars close Below the Lower band we must wait the first opposite candle, in this case negative. When this bars close if the CCI is Below level +100 all the rules are trigger otherwise we must wait the next break of the BB.
I think it's ok ?!?!
Thxdasio
With those set of rules, a lot of signals will be generated. Just see when the price is "dancing" at one of the bands : in cases like that almost on every bar a new signals would be generated. Can make a test indicator for that, but from I see there will be way too much signals
Hi Dasio,
The CCI indicator is in its coding very close to the% BB (poucentage Bollinger bands) with the deviation setting = 1.
So for your system you use two identical indicators.
I do not know if it's a good idea?,perhaps Mladen can tell you ??
I post the %BB indicator ,you can check with deviation setting=1 for %BB and Bollinger Bands.
In my humble opinion the use of BB% is better than the CCI.
Regards.
With CCI indicator, the correct reading is a "top / bottom" and vice versa. If the indicator does a "bottom" (-100) you should wait until there is a "top", ignoring the "bottom" among them (usually noise).
Most times it works fine except that you're close to a breakout. In this case it is normal that CCI will reverse what you see on the chart ( out of sync ) or means moves between limits ( -100/100 )
Hi,
so there is no possibility to have this indi?
I thanks all for the answer but I am confident of my ideas ^^
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Hi,
i need an indicatori with thieese rules:
RULE 1 : If the Previous candle close above/below del bands the indicator must draw a dot above/below the bars.
If the first rule is find go to RULE 2.
RULE 2:If the broke is in downtrande, in the first opposite candle ( ex in downternd a positive candle), the indicator must draw another dot and the viceversa rules must be applied for the other direction. When open the new candle after the opposite one if the opposite candle was a red candle the cci must be below +100 level viceversa id the previous opposite candle was a green candle the cci must be above -100 level. If theese rules are respected the indicator draw a vartical line at the current candle viceversa if theese rules will not been respected the previous 2 dots must be cancelled.
The indicator must draw also the past if possible.
Thank you