CCI with averages
I coded this indicator to adapt a few techniques I learned from Constance Brown to CCI, which is a very good momentum indicator which gives great signals if you know how to read them.
I plotted a few examples on the chart.
As you can see, it complements a trader's bar chart reading skills nicely if applied correctly.
Hope you can find it of use.
Cheers,
Ivan.
I plotted a few examples on the chart.
As you can see, it complements a trader's bar chart reading skills nicely if applied correctly.
Hope you can find it of use.
Cheers,
Ivan.
study(title="CCI with averages") cciLength = input(title="CCI Length", type=integer, defval=11, minval=3, maxval=100) source = input(title="Source", defval=hlc3) len2 = input(9, minval=1, title="EMA #1") len3 = input(45, minval=1, title="EMA #2") cci = cci(source, cciLength) ema1CCI = ema(cci,len2) ema2CCI = ema(cci,len3) plot(cci, title="CCI Histogram", style=histogram) plot(ema1CCI, title="EMA #1", style=line, linewidth=1, color=black) plot(ema2CCI, title="EMA #2", style=line, linewidth=1, color=blue) hline(0, title="Zero Line", color=black, linestyle=solid) hline(100, title="100 Line", color=black, linestyle=dotted) hline(-100, title="-100 Line", color=black, linestyle=dotted)
