Dynamic Range Commodity Channel Index
October 12, 2015, 8:37 PM
Indicators
4 Comments
This oscillator is made of a derivated CCI indicator and its standard deviation. The concept behind this indicator is to draw the derivated price over a bounded oscillator.
The 2 standard deviation of the oscillator are dynamic to reflect the near-past high and low deviations.
ma=average[length](close-close[1])
ret=((close-close[1]) - ma) / (0.015 * std[length](close-close[1]))
c = exponentialaverage[smooth](exponentialaverage[smooth](ret))
pos = std[length](c)
neg = -std[length](c)
hh=highest[length](max(pos,neg))
ll=lowest[length](min(pos,neg))
RETURN hh coloured(0,255,0) as "ob", ll coloured(255,0,0) as "os", c coloured(255,255,0) as "cci"
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Filename:
Dynamic-Range-CCI.itf
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