this Screener identifies sharp movements, pointing to a potential reversal.
It uses CCI and MA of CCI. for example the CCI is above a neutral zone (definable parameter) and the CCIMA is below the neutral zone and has been there for a long (definable parameter) time.
The ROC is used to identify only those instruments where significant price action has occured.
Of course other factors need to be appraised in your investment decision, don’t jump in too early!
myCCI = CCI[n]
CCIMA = Average(myCCI)
OBminline = 30
OSminline = OBminline * -1
EntryOK = 0
//for the long CCIMA only. This implies stronger momentum
myROCup = ROCMA >= 0
CCIMApositive = CCIMA>OBminline
myROCdown = ROCMA <= 0
CCIMAnegative = CCIMA<OSminline
//find only longer CCIMA
while ((CCIMApositive[a] and CCIMApositive[a+1])or(CCIMAnegative[a] and CCIMAnegative[a+1])) do
if (myROCup and CCIMApositive and CCInegative and TailCounter>CCIMAminlength) then
EntryOK = 1 //Long OK now
elsif (myROCdown and CCIMAnegative and CCIpositive and TailCounter>CCIMAminlength) then
EntryOK = -1//Short OK now
SCREENER [(EntryOK)=1 or EntryOK=-1] ((EntryOK*Tailcounter) as "EntryOK x ROC")
No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.ProRealTime ITF files and other attachments :