Hey traders! Today, let’s dive into the Adaptable CCI oscillator, a game changer for those of us using MetaTrader 5. This nifty tool not only gives you the standard CCI calculations but also allows you to tweak various parameters to better fit your trading style.
Unlike the basic CCI, the Adaptable CCI lets you modify the following parameters:
- Period (CCI period) - this is your calculation period, just like in the standard CCI;
- Applied price (CCI apply to) - the price used for calculations, similar to the standard CCI;
- Deviation period - this is your calculation range;
- Correction factor - the coefficient that adjusts the CCI price scale;
- Method - the calculation method you choose;
- Overbought - set your overbought level here;
- Oversold - set your oversold level here.
Calculating CCI:
CCI = (Price - mean) / (meandev * Correction factor)
Where:
mean = MA(Applied price, Period, Method) meandev = SumD / Deviation period SumD - sum Abs(Applied price - Avg) within Deviation period Avg = SMA(Applied price, Deviation period)
Fig 1. Default values (coincides with standard CCI)
Fig. 2. EMA calculation method
Fig. 3. SMMA calculation method
Fig. 4. LWMA calculation method
Fig. 5. Calculation range of 28 bars
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