This indicator can calculate CCI of CCI of CCI of CCI … up to “level” 25.
When level 1 (one) is used, it is the same as “regular” CCI. After that, CCI of CCI is calculated and so on (each new step uses previous step cci value instead of the price – it is calculating CCI of CCI instead of CCI of price). Levels are limited to 25 purely for practical reasons (the CCI becomes in-recognizable after some level, but it can easily be extended in the code to calculate CCI to any (reasonable) level.
The rest of the usual stuff is already included :
floating levels
or quantile levels.
Price smoothing/filtering – including the price smoothing methods. Coloring choices and alerts. Multi time frame …
PS: higher levels of CCI recursion should be used with care. The recursive method is highly experimental and should be used as such – do not use it based on a first impression but please do the testing part thoroughly before any usage.
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) …
