CCI with averages — Indicator by IvanLabrie

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I coded this indicator to adapt a few techniques I learned from Constance Brown to CCI, which is a very good momentum indicator which gives great signals if you know how to read them.
I plotted a few examples on the chart.
As you can see, it complements a trader's bar chart reading skills nicely if applied correctly.
Hope you can find it of use.
Cheers,
Ivan.

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ivanlabrie.substack.com/

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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?

study(title="CCI with averages")

cciLength = input(title="CCI Length", type=integer, defval=11, minval=3, maxval=100)
source = input(title="Source", defval=hlc3)
len2 = input(9, minval=1, title="EMA #1")
len3 = input(45, minval=1, title="EMA #2")

cci = cci(source, cciLength)
ema1CCI = ema(cci,len2)
ema2CCI = ema(cci,len3)

plot(cci, title="CCI Histogram", style=histogram)
plot(ema1CCI, title="EMA #1", style=line, linewidth=1, color=black)
plot(ema2CCI, title="EMA #2", style=line, linewidth=1, color=blue)

hline(0, title="Zero Line", color=black, linestyle=solid)
hline(100, title="100 Line", color=black, linestyle=dotted)
hline(-100, title="-100 Line", color=black, linestyle=dotted)

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