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MT5 CCI indicators

1 by mrtools
From Mladen Rakic:::

This indicator is one of the series of "experiments"

even though it is named CCI, it is not actually CCI
the calculating method is changed significantly compared to original CCI which make the usage as it is usual for classical version (via fixed levels) obsolete
for that reason a sort of dynamic levels are added (a sort of Donchian channel levels added)
basic types of averages can be used :
for main calculation
for price smoothing (as a possible method of signals filtering without significant lag addition)

Recommendations:

You can use the color changes as signals
Comparison :

An example why is it still called CCI.
Upper is this indicator, lower is the classical CCI.
Regardless of the completely different values produced, the relative values / slopes are very similar
These users thanked the author mrtools for the post (total 3):
ionone, 太虚一毫, pipsquirrel

Re: MT5 CCI indicators

4 by mrtools
From Mladen Rakic:

Theory :

This CCI (Commodities Channel Index) indicator deviates from "regular" CCI in two main points :

it is using standard deviations for calculations (instead of using mean absolute deviation)
it is allowing us to use double smoothed Wilder's EMA for price filtering (and that way it filters out some false signals)
Usage :

You can use it as any regular CCI
These users thanked the author mrtools for the post (total 4):
Chickenspicy, Milad8732, Ricstar_8, 太虚一毫


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