PH CCI on Chart Histo
PH CCI on Chart is the real CCI adjusted on chart.
We can choose two CCI levels, for example: 100 (-100) and 200 (-200). Between the two levels a histogram is drawn.
We can also choose the length of the drawing.
Very easy to use, and visual.
- The percentage indicator of "PH CCI on Chart" is the CCI.
The "CCI on Chart" is very close to Bollinger Bands, only the Standard deviation is calculated differently.
The advantage of "CCI ON CHART" is: we can detect the SQUEEZES.
When there are SQUEEZES (the bands get closer), this means the volatility is low.
For memory the CCI code is:
CCI (14) = [Cm -MM14 of Cm] / [0015 x σ]
Cm = Typicalprice
MM14 (Cm) =14 periods moving average of the typical price;
σ = standard deviation of the typical price compared to MM14.
- CCIPeriod= you choose the number of bars used for the indicator calculations.
- CCILevel1= you choose the first Histo level: by default 100, (-100).
- CCIILevel2= you choose the second Histo level: by default 200, (-200).
- DrawBegin = you choose the number of bars to draw indicator on chart.
When Price crosses over CCI level 1(+100) you can BUY, when the Price Crosses under CCI level 2 (+200) you must STOP.
When Price crosses under CCI level -1(-100) you can SELL, when the Price Crosses over CCI level -2(-200) you must STOP.
Please, never trade without Stop Loss. The best way is to test this indicator before spending money.