CCI trend and extreme indicator by CooperHoang

This employ multi time frame analysis to give a good visual of where is the market is at.

green = general market is trending up from the confluence of 3 different time frame
red = general market is trending down from the confluence of 3 different time frame
Bright green = overbought and trend is likely to reverse
Bright red = oversold and trend is likely to reverse

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

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Want to use this script on a chart?

study(title="Commodity Channel Index", shorttitle="CCI Momentum")
length = input(20, minval=1)
src = input(close, title="Source")
ma = sma(src, length)
length1 = input(60, minval=1)
ma1 = sma(src, length1)
length2 = input(240, minval=1)
ma2 = sma(src, length2)

cci = (src - ma) / (0.015 * dev(src, length))
cci1 = (src - ma1) / (0.015 * dev(src, length1))
cci2 = (src - ma2) / (0.015 * dev(src, length2))
data = cci > 0 and cci1 > 0 and cci2 > 0
data1 = cci < 0 and cci1 < 0 and cci2 < 0

bgUp    = (data) ? green : na
bgDown  = (data1) ? red : na
bgUp1    = (cci > 200 and cci1 > 200 and cci2 >200) ? green : na
bgDown1    = (cci < -200 and cci1 < -200 and cci2 < -200) ? red : na
bgcolor(bgUp, transp=60)
bgcolor(bgDown, transp=60)
bgcolor(bgUp1, transp=0)
bgcolor(bgDown1, transp=0)