NO LINKS, SOURCE CODE REQUESTS OR MODIFICATION OF DECOMPILED INDICATORS. To avoid post deletion please follow the rules.


Re: CCI indicators for MT4

#462
mrtools wrote:
Thu May 13, 2021 2:50 am
This is a cci based on McNicholls ma (better bollinger bands) it's using McNicholls deviation and presmoothing.
Hello Mr Tools, could you make this indicator mtf please?

Re: CCI indicators for MT4

#463
mladen wrote:
Sun Feb 19, 2017 11:22 pm
CCI (Commodity Channel Index) Indicators for Metatrader 4


CCI Indicators Metatrader 4.png
Example: CCI shown on a ProRealTime Chart

Commodity Channel Index

The commodity channel index (CCI) is an oscillator originally introduced by Donald Lambert in 1980.
Since its introduction, the indicator has grown in popularity and is now a very common tool for traders in identifying cyclical trends not only in commodities, but also equities and currencies.

The CCI can be adjusted to the timeframe of the market traded on by changing the averaging period.

Calculation

CCI measures a security’s variation from the statistical mean.

The CCI is calculated as the difference between the typical price of a commodity and its simple moving average, divided by the mean absolute deviation of the typical price.

The index is usually scaled by an inverse factor of 0.015 to provide more readable numbers: C C I = 1 0.015 p t - S M A ( p t ) ? ( p t ) {\displaystyle CCI={\frac {1}{0.015}}{\frac {p_{t}-SMA(p_{t})}{\sigma (p_{t})}}} where the pt is the Typical Price = H + L + C 3 {\displaystyle {\text{Typical Price}}={\frac {H+L+C}{3}}} , SMA is the simple moving average, and - is the mean absolute deviation.

For scaling purposes, Lambert set the constant at 0.015 to ensure that approximately 70 to 80 percent of CCI values would fall between -100 and +100. The CCI fluctuates above and below zero.

The percentage of CCI values that fall between +100 and -100 will depend on the number of periods used.

A shorter CCI will be more volatile with a smaller percentage of values between +100 and -100.

Conversely, the more periods used to calculate the CCI, the higher the percentage of values between +100 and -100.

Interpretation

Traders and investors use the commodity channel index to help identify price reversals, price extremes and trend strength.

As with most indicators, the CCI should be used in conjunction with other aspects of technical analysis. CCI fits into the momentum category of oscillators. In addition to momentum, volume indicators and the price chart may also influence a technical assessment.

It is often used for detecting divergences from price trends as an overbought/oversold indicator, and to draw patterns on it and trade according to those patterns. In this respect, it is similar to bollinger bands, but is presented as an indicator rather than as overbought/oversold levels.

The CCI typically oscillates above and below a zero line. Normal oscillations will occur within the range of +100 and ?100.

Readings above +100 imply an overbought condition, while readings below -100 imply an oversold condition.

As with other overbought/oversold indicators, this means that there is a large probability that the price will correct to more representative levels.

The CCI has seen substantial growth in popularity amongst technical investors; today's traders often use the indicator to determine cyclical trends in not only commodities, but also equities and currencies.

The CCI, when used in conjunction with other oscillators, can be a valuable tool to identify potential peaks and valleys in the asset's price, and thus provide investors with reasonable evidence to estimate changes in the direction of price movement of the asset.

Using the CCI the correct way (Lambert's way)

Lambert's trading guidelines for the CCI focused on movements above +100 and below -100 to generate buy and sell signals. Because about 70 to 80 percent of the CCI values are between +100 and -100, a buy or sell signal will be in force only 20 to 30 percent of the time.

When the CCI moves above +100, a security is considered to be entering into a strong uptrend and a buy signal is given.
The position should be closed when the CCI moves back below +100.

When the CCI moves below -100, the security is considered to be in a strong downtrend and a sell signal is given.
The position should be closed when the CCI moves back above -100.

Using the CCI for counter-trend trading (not recommended)

Since Lambert's original guidelines, traders have also found the CCI valuable for identifying reversals.

The CCI is a versatile indicator capable of producing a wide array of buy and sell signals.

CCI can be used to identify overbought and oversold levels.
A security would be deemed oversold when the CCI dips below -100 and overbought when it exceeds +100. From oversold levels, a buy signal might be given when the CCI moves back above -100.

From overbought levels, a sell signal might be given when the CCI moved back below +100.

As with most oscillators, divergence can also be applied to increase the robustness of signals.

A positive divergence below -100 would increase the robustness of a signal based on a move back above -100.

A negative divergence above +100 would increase the robustness of a signal based on a move back below +100.

Trend line breaks can be used to generate signals. Trend lines can be drawn connecting the peaks and troughs. From oversold levels, an advance above -100 and trend line breakout could be considered bullish. From overbought levels, a decline below +100 and a trend line break could be considered bearish.
Can someone give explanation about compartion between CCI and MFI. I've use MFI but i got the impression its just weighted RSI and as RSI it has weak capability in detecting reversal.

Re: CCI indicators for MT4

#464
p1ps_surfer wrote:
Mon May 31, 2021 6:10 pm
Can someone give explanation about compartion between CCI and MFI. I've use MFI but i got the impression its just weighted RSI and as RSI it has weak capability in detecting reversal.
MFI is related to volumes. And the CCI indicator shows the position of the price relative to the channel. Well, a very bad example is the TMA channel. The breakdown of the center of the channel shows where there is a struggle between "buyers" and "sellers" - all this is conditional. And the breakdown of the channel +100, -100 is the overweight of the trend. Levels of +350 and -350 are considered critical - we are waiting for a rollback. These are roughly my observations.
There is a very interesting breakout strategy on the Forex factor for TF M-15. Breakdown of levels +100 -100 for ССI periods 14 and 50. Now I do not have access to information to show You something.

And also the indicator CCI period 50 is very similar RSI to the period 34. Compare and see.


Re: CCI indicators for MT4

#466
RomanUkraine wrote:
Mon May 31, 2021 6:48 pm
MFI is related to volumes. And the CCI indicator shows the position of the price relative to the channel. Well, a very bad example is the TMA channel. The breakdown of the center of the channel shows where there is a struggle between "buyers" and "sellers" - all this is conditional. And the breakdown of the channel +100, -100 is the overweight of the trend. Levels of +350 and -350 are considered critical - we are waiting for a rollback. These are roughly my observations.
There is a very interesting breakout strategy on the Forex factor for TF M-15. Breakdown of levels +100 -100 for ССI periods 14 and 50. Now I do not have access to information to show You something.

And also the indicator CCI period 50 is very similar RSI to the period 34. Compare and see.

@RomanUkraine
Hi,
Found, another version of CCI, where you can set params for individual Time Frames, but it misses some of the features from the earlier indi.

Thanks.


@sudhindragk : u can use this in mtf mode
Double CCI with SMA vbobslow VK & Cross alert + arrows + mtf.mq4
(29.99 KiB) Downloaded 86 times

Re: CCI indicators for MT4

#467
RomanUkraine wrote:
Mon May 31, 2021 6:48 pm
MFI is related to volumes. And the CCI indicator shows the position of the price relative to the channel. Well, a very bad example is the TMA channel. The breakdown of the center of the channel shows where there is a struggle between "buyers" and "sellers" - all this is conditional. And the breakdown of the channel +100, -100 is the overweight of the trend. Levels of +350 and -350 are considered critical - we are waiting for a rollback. These are roughly my observations.
There is a very interesting breakout strategy on the Forex factor for TF M-15. Breakdown of levels +100 -100 for ССI periods 14 and 50. Now I do not have access to information to show You something.

And also the indicator CCI period 50 is very similar RSI to the period 34. Compare and see.
hmm from ur explanation cci lean to momentum indicator isn't? How about its capability in detecting divergence? Is the signal accurate?

Re: CCI indicators for MT4

#470
RomanUkraine wrote:
Mon May 31, 2021 9:08 pm
Friends.
I cannot install the MT-4 terminal here. Internet access is bad. I am in the Arctic Circle. Satellite connection is very poor.
There is no way to show your work. Because besides the real account, I was looking at the demo account on the second monitor at home.

Look for combinations (patterns) 1-2.
viewtopic.php?p=1295432740#p1295432740
thanks rome for ur effort. i get the point


  1. Similar Topics

    1. What are these indicators doing or made from?

      1 Replies 2205 Views

      by billbroch, Mon Aug 24, 2020 10:00 am in MT4 Indicators

      1 Replies
      2205 Views
    2. Two indicators in the window

      5 Replies 669 Views

      by juanlu999, Sat Apr 24, 2021 2:51 am in MT4 Indicators

      5 Replies
      669 Views
    3. SHARE MY INDICATORS NOW

      97 Replies 5696 Views

      by vuongnet, Tue Jun 22, 2021 9:23 pm in MT4 Indicators

      97 Replies
      5696 Views

Return to “MT4 Indicators”