This indicator is designed for scalping strategies on a 5-minute timeframe. It generates signals based on two RSI crossovers and incorporates moving averages to identify trends. Additionally, a Bollinger Band is included to eliminate the need for an additional Bollinger Band on the chart.
Please note that this indicator does not guarantee 100% accurate signals...
Level: 2
Background
John F. Ehlers introucedAdaptive Commodity Channel Index in his "Rocket Science for Traders" chapter 21 on 2001.
Function
The Commodity Channel Index (CCI) computes the average of the median price of each bar over the observation period. It also computes the Mean Deviation (MD) from this average. The CCI is formed as the current deviation...
Level: 2
Background
Volume-Weighted Average Price (VWAP) is a trading benchmark used by traders that indicates the average price that a security has traded for throughout the day based on volume and price. This is important as it gives traders insight into the trend and value of a security.
The Commodity Channel Index (CCI) indicator was created to identify...
![XAUUSD: [blackcat] L2 Ehlers Adaptive Commodity Channel Index](https://s3.tradingview.com/v/VYJqqXoT_mid.png "[blackcat] L2 Ehlers Adaptive Commodity Channel Index")
![BTCUSD: [blackcat] L2 VWAP CCI Trading System](https://s3.tradingview.com/t/TFvmDABt_mid.png "[blackcat] L2 VWAP CCI Trading System")