OPEN-SOURCE SCRIPT
Woodies CCI (SafeDay) v1.1
Updated
Woodies CCI is a Commodity Channel Index-based system developed by Ken Woods. The main principle of this system is that the price moves in the direction of CCI.
Some traders use the indicator to spot a number of tradable CCI patterns both with and against the trend. Woodies CCI (SafeDay) is used to identify the zero line rejection, turbo line and CCI line break through the zero line for trade confirmation.
The Woodies CCI (SafeDay) is often used in combination with other signals and indicators. For example, when used with the SDT DOT indicator, it provides confirmation of the trade direction giving the user additional confidence in taking the trade.
This indicator can be used on all time frames.
Some traders use the indicator to spot a number of tradable CCI patterns both with and against the trend. Woodies CCI (SafeDay) is used to identify the zero line rejection, turbo line and CCI line break through the zero line for trade confirmation.
The Woodies CCI (SafeDay) is often used in combination with other signals and indicators. For example, when used with the SDT DOT indicator, it provides confirmation of the trade direction giving the user additional confidence in taking the trade.
This indicator can be used on all time frames.
Release Notes
Fixed the Histogram to only change trend color after gold bar condition to align with Woodies specificationsAdded ability for user to select colors for Turbo, CCI and Histogram
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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