OPEN-SOURCE SCRIPT
CCI Strategy v2
This was a strategy I found based on MT4. It takes CCI readings, then transforms them into a weighted moving average illustration. This is represented as:
Red Line - A six period moving average taken from CCI (NOT PRICE)
Green Line - A sixty-six period moving average taken from CCI (NOT PRICE)
Blue Line - CCI plotted
I have also added some levels and bollinger bands to highlight changes in activity.
The strategy is:
BUY - When the red line crosses upwards over green line.
SELL - When the red line crosses downwards over green line.
Extra confirmation is available by watching the blue line, it should be above red to buy, below red to sell. If the blue line drops in the opposite direction, this may be an opportunity to buy on a pull back.
If you wish for any modications to be applied, please do not hesitate to contact me.
Red Line - A six period moving average taken from CCI (NOT PRICE)
Green Line - A sixty-six period moving average taken from CCI (NOT PRICE)
Blue Line - CCI plotted
I have also added some levels and bollinger bands to highlight changes in activity.
The strategy is:
BUY - When the red line crosses upwards over green line.
SELL - When the red line crosses downwards over green line.
Extra confirmation is available by watching the blue line, it should be above red to buy, below red to sell. If the blue line drops in the opposite direction, this may be an opportunity to buy on a pull back.
If you wish for any modications to be applied, please do not hesitate to contact me.
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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