This appealing little tool is a derivation of the CCI indicator and was developed in 2023 by Mario Jemic for MT4. It has additional settings that the conventional CCI indicator does not have. Furthermore, it is combined with moving averages to create signals. This is lines crossing confirmation type indicator. Look for the orange line to cross the moving average (red line).
Differences from the original: 1. Though it was coded in 2023, the original is for people who are still running Windows 95 and would like to do technical analysis on MT4. 2. The original had an additional stochastic moving average that was not particularly useful and made the indicator busy. 3. All of the moving average options have been ported over with 2 additional choices. (Hull and Arnaud Legoux added). 4. The default options are set as the tweaks that were discovered by StoneHill Forex (stonehillforex.com/2023/07/stablefx-as-a-confirmation-indicator/). You can also download the original from them.
I will probably add a few more features and options in the near future such as visuals for crossovers etc.
Enjoy! d1g1talshad0w
הערות שחרור
⋅
Fixed an issue where changing the CCI Source had no effect.
Love this indicator! thanks a lot. Did you put the tweek settings from Stonehill Forex as standard?
d1g1talshad0w
⋅
@hajohnsen, thanks man! Yes they are the defaults from stonehill.
rvc8280
⋅
Thank you for the script.
What are the suggested values of C1, C2, C3. If C1=0.5, C2=0.5, C3=0.5 a = cci_val * c1 + cci_val * c2 - cci_val * c3 + cci_val * c2 - cci_val * c3 + cci_val * c2 - cci_val * c3 + cci_val * c2 - cci_val * c3 + cci_val * c2 - cci_val * c3 This code is equal to a = cci_val * c1
Can you please help & clarify the same
d1g1talshad0w
⋅
@rvc8280, the defaults I have set seem to be best for intraday. You can find the original Metatrader research done by searching stonehill forex. Basically those value change the weights on the commodity channel index. Depending on the time frame you are using I would just play around with them and do some back testing on the results. This works good as a primary or secondary confirmation indicator, but as usual shouldn't be your only signal.