Fibonacci Commodity Stenth Index

Fibonacci Commodity Strength Value tells us about the strength and weakness of bull or bear market.
The main focus in this is too be done at reversal. It can also be used for identifying fake ups/downs.
If all the 4 lines moves upward after a huge up spike, then notice the values of all 4 values. If red fib is smaller than green fib then it is a fake trend. If its more then its uptrend and same for bear movement. ;)
It also represents cci (in terms of values) and rsi (in terms of waves).
Enjoy !!!!!

發布通知:

Removed some lower lengths and added one extra high length. Also for visual analysis, added HullMA and Color Differentiation.

發布通知:

There are two types of Technical Indicators.. Lagging and Leading. Lagging indicators lag and give trend confirmation later.
Whereas, leading indicators give prior information.
But both have their own disadvantages and advantages.
In here, i have used CCI (leading) and then taken out its RSI(leading) in order to range from 0 to 100. And then added EMA (lagging) to it.
In this i have chosen three lengths, 13, 21, 34 (three numbers of Fibonacci series).

Usage :

• Reversals
  If we find these dark color (rounded in chart), then there might be a reversal coming (Leading indicators tells this).
  
  
  
  Failure Identification
  As shown below, dark color came but prices gone higher. This failure can be identified by trend in indicator. For example, if prices move higher and a dark color appears but indicator is also moving higher, so there will be no reversal..
  
  
  
  Trend Strength
  It is common as it is CCI transformed in RSI and smoothed with EMA over 3 different lengths.
  
  Divergence
  The best result are divergence, easily spotted. You may find it addicted.
  

發布通知:

• Updated to version 4
  Added options to manually change length in Fibonacci series.