Commodity Channel Index

The Commodity Channel Index (CCI) is a technical indicator that measures the strength of the momentum in the market, it is calculated using a Moving average (default 20 SMA, users can change the legth and the type of the MA from dashboard) using formula: cci = (src - ma) / (0.015 * ta.dev(src, ccilength)).

When CCI is under -100 that indicates a strong downtrend, and above +100 level a strong uptrend, above 0 level a bullish trend start and bellow 0 level bearish momentum.

Crossing back above -100 and bellow + 100 levels not means it is a reversal of the trend, could be just a pullback or a bounce before trend continuation.

The indicator display on the main chart a color coded moving average with the length and type selected by users for CCI calculation.


The CCI Moving average and the CCI lines in oscillator are both color coded :

1. CCI and MA both red = > Bearish trend
2. CCI and MA both green = > Bullish trend
3. MA color turn yellow or the CCI turn blue that means a possible consolidation will be next or trend change.

4 type of Divergences are detected by the script Bullish, Bearish, Hidden Bullish and Hidden bearish divergences, users can setup alarms for them, by default the divergences ae not displayed, users need to select them to be displayed on the oscillator.

A table displaying the vurrent timeframe and 2 higher timeframes of the stats of CCI and its MA.

There are 13 alerts that users can setup akarms:
Alert for Regular Bullish Divergence
Alert for Hidden Bullish Divergence
Alert for Regular Bearish Divergence
Alert for Hidden Bearish Divergence
Alert for CCI Back Above -100
Alert for CCI Back Bellow 100
Alert for CCI Extreme Overbought
Alert for CCI Extreme Oversold
Alert for trend change by CCI MA => Moving Average Color turned to yellow, that means sideways or possible trend change
Alert for CCI Crossing Above CCI MA
Alert for CCI Crossing Bellow CCI MA
Alert for cci Crossing Above 0
Alert for CCI Crossing Bellow 0