Wednesday, 25 July 2012

Advanced CCI (Commodity Channel Index)

Here is another indicator I've made from the standard, and widely used, Commodity Channel Index (CCI) indicator found on all MetaTrader software. This one does the same thing as the Money Flow Index indicator I've made the other day, where it crosses a certain level (in the picture above the levels were set at 100 and -100) the appropriate arrow will display. This CCI indicator makes it a lot easier to see when CCI passes one of these levels, and as you can see it can predict tops and bottoms pretty well. Not perfectly, but pretty close.