If you're looking to enhance your trading strategy, the Smoothed CCI (Commodity Channel Index) indicator for MetaTrader 5 might just be what you need. It offers a refined approach to analyzing market trends, making it a favorite among traders.
Understanding the Smoothed CCI Indicator
The Smoothed CCI comes with ten adjustable parameters that can help tailor the indicator to your specific trading style:
- CCI Period - This defines the calculation period for the CCI.
- Applied Price - This refers to the price type used for the calculations.
- Use Pre-smoothing - Determines if preliminary smoothing is applied to the price data before calculating the CCI.
- Pre-smoothing Period - The time frame for the initial smoothing process.
- Pre-smoothing Method - Specifies the technique used for pre-smoothing.
- Use Post-smoothing - Indicates if the resulting CCI will undergo further smoothing.
- Post-smoothing Period - The duration for the subsequent smoothing phase.
- Post-smoothing Method - The algorithm used for this final smoothing.
- Overbought Level - Sets the threshold indicating when the asset may be overbought.
- Oversold Level - Sets the threshold for when the asset might be considered oversold.
Visual Comparisons of Smoothed CCI
To help you understand the impact of the settings, here are some visual comparisons of the Smoothed CCI against the standard CCI:
Fig. 1. Smoothed CCI – Pre-smoothing: No, Post-smoothing: No
Fig. 2. Smoothed CCI – Pre-smoothing: Yes, Post-smoothing: No
Fig. 3. Smoothed CCI – Pre-smoothing: No, Post-smoothing: Yes
Fig. 4. Smoothed CCI – Pre-smoothing: Yes, Post-smoothing: Yes
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