KenLeShim

CCI Multi-Timeframe

The Commodity Channel Index ( CCI ) is a leading oscillating momentum indicator that was developed by Donald Lambert to identify cyclical turns in commodities but can also be used on securities and bonds as well.

HOW IS IT USED ?
Lambert used the CCI to generate entry and exit signals when the CCI moved above +100% and below -100% respectively. When the CCI moves above +100%, the security enters into a strong uptrend and an entry signal is given. When the CCI moves back below +100% this position should be closed. Conversely, when the CCI moves below -100%, the security enters into a strong downtrend and an exit signal is given. When the CCI moves back above -100% this position should be closed.
In addition, an entry signal is given when the CCI bounces off of the zero line. When the CCI reaches the zero line, the security's average price is at the moving average used to calculate the CCI and when a security bounces off its moving average it is considered a good entry position as the security has pulled back to its short-term support with the bounce reaffirming the current trend.
The CCI can also be used to identify overbought and oversold levels. A security could be considered oversold when the CCI moves below -100 and overbought when it moves above +100. From an oversold level, an entry signal may be given when the CCI moves above -100. From an overbought level, an exit signal might be given when the CCI moves below +100.
Divergences can also be applied to the CCI . A positive divergence below -100 would increase the probability of a signal based on a move above -100, and a negative divergence above +100 would increase the probability of a signal based on a move back below +100.
Trend line breaks can be used to generate entry and exit signals. Trend lines can be drawn connecting the peaks and troughs. From oversold levels, a move above -100 and a trend line breakout could be used as an entry signal. Conversely, from overbought levels, a move below +100 and a trend line breakout could be used as an exit signal.

I added the possibility to add on the chart a 2nd timeframe for confirmation.

If you found this script useful, a tip is always welcome... :)

BTC: 19Fosn6YJYubdgs5i9LumQHvEsnshn1VDq
BCC: 19Fosn6YJYubdgs5i9LumQHvEsnshn1VDq
ETH: 0x31af631d099dea79ab2b6f82a59fdbfda1975099
LTC: LT6u8oGKyASgriSffmT78d4EjDVw5P7RKK
Supprimer des scripts favoris Ajouter aux scripts favoris
or to support, please use the following referral links to create an account on the following Crypto exchanges :

Coinbase :
https://www.coinbase.com/join/5943d4a34d3af2072e550a65
(Best platform to exchange USD/EUR into Bitcoin)

Binance :
https://www.binance.com/?ref=19910200
(Best platform to trade many Altcoins)

Bitmex :
https://www.bitmex.com/register/bQPRjK
(Best Platform to Short Bitcoin with up to 100x Leverage !)

Thank you !
Répondre
Accueil Filtre d'actions Filtre Forex Filtre Crypto Calendrier économique Comment ça marche Caractéristiques du graphique Prix Règles de conduite Modérateurs Solutions site web & courtier Widgets Solutions de cartographie Obtenir de l'aide Demande de fonctionnalité Blog & News Questions Fréquentes Wiki Twitter
Profil Paramètres du Profil Compte et Facturation Obtenir de l'aide Idées Publiées Suiveurs Suivi Messages privés dialogue en ligne Se Déconnecter