CodeCCI indicators for MT4

1
CCI (Commodity Channel Index) Indicators for Metatrader 4

Example: CCI shown on a ProRealTime Chart

Commodity Channel Index, are you using it correctly? Read on 👇

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.

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.

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.
These users thanked the author mladen for the post (total 6):
fxchampion, 太虚一毫, Rudolf, birpinar, Jedidiah, ParallelNative


Re: CCI indicators for MT4

2
This version of cci is using the 20+ price options in it's calculations along with multi time frame, also added a ma of cci. There are options for color change on entering ob/os levels, slope change, or cci and cciMa cross. The alerts and arrows should correspond to the color change.
These users thanked the author mrtools for the post (total 2):
太虚一毫, 88FX88

Re: CCI indicators for MT4

3
mrtools wrote:This version of cci is using the 20+ price options in it's calculations along with multi time frame, also added a ma of cci. There are options for color change on entering ob/os levels, slope change, or cci and cciMa cross. The alerts and arrows should correspond to the color change.
Dearest MRTOOLSThanks for all in one invention
regards
Attachments
Indicator is just a tool.

Use it only if it can benefit you. Leave it if you don't know how to use it optimally.

Re: CCI indicators for MT4

5
CCI Adaptive smoother
CCI Adaptive smoother 1_1     (user friendly)
CCI Adaptive Smoother 1_2     (noticed some issues and solved-cleaned up)
Indicator is just a tool.

Use it only if it can benefit you. Leave it if you don't know how to use it optimally.


Re: CCI indicators for MT4

6
Some CCI Averages pre-Filtered versions

CCI Averages pre-Filtered                        (34latest averages)
CCI Averages pre-Filtered 2                      (double and adaptive added)
Indicator is just a tool.

Use it only if it can benefit you. Leave it if you don't know how to use it optimally.

Re: CCI indicators for MT4

8
CCI Averages pre-Filtered 2.3            (filter added-mtf issue solved)
CCI Averages pre-Filtered 2.4            (3coloring option)
CCI Averages pre-Filtered 2.5            (custom tf added)
Indicator is just a tool.

Use it only if it can benefit you. Leave it if you don't know how to use it optimally.

Re: CCI indicators for MT4

9
A bit older version

CCI pre Filtered Averages FL arrow nmc         (20averg-arrow)
CCI pre Filtered Averages FL arrow nmc 1.01  (20averg-arrow when cci leave upper-lower level)
DZ CCI pre Filtered Averages nmc                   (20averg)
Indicator is just a tool.

Use it only if it can benefit you. Leave it if you don't know how to use it optimally.

Re: CCI indicators for MT4

10
Dear Mr.Mladen, Mr.Tools, Mr.Mntiwana and all the great people here...

I always follow the TSD is already long enough despite not being a member, and this time very grateful can join here. What I have just read there has brought me to this place, it's surprising what is happening there because I think it is the best forum, but now it's not a problem because here will be much better than all...

Congrats for You and for All for this new forum..

All the best and with best regards.


Who is online

Users browsing this forum: adriano.ecker, Ahrefs [Bot], Akela, bbookgenius, Bing [Bot], fibo7818, kvak, SijjiN, Trendiction [Bot] and 92 guests