This is the version of well known Woodies CCI with correct implementation of trend changing rules (the “infamous” yellow bar that has to appear at a bar that strictly follows woodies rules. Added are the slopes of ema and LSMA (linear regression value) as colored lines that are adding information to decision taking when the Woodies CCI is used (originally they used 3 indicators but here we have an all-in-one version).
PS: the Woodies CCI system mainly trades using only 5 minute charts, so, the indicator should, with the default settings used, be used on 5 minute charts too. For usage on other time frames some parameters experimenting is advised in order to adjust it to the needs of different time frames
CCI Color - indicator MetaTrader 5 The idea of the indicator The principle of coloring the iCCI indicator line:       //--- zero crossing       if(CCI_Buffer[i-1]<0.0 && CCI_Buffer[i]>=0.0)         …
CCI variation - indicator MetaTrader 5 Theory: The commodity channel index (CCI) is an oscillator originally introduced by Donald Lambert in 1980. It is calculated as:…
