CCI
Commodity Channel Index
Description
The Commodity Channel Index was developed by Donald
Lambert and is outlined in his book Commodities Channel Index: Tools for Trading
Cyclic Trends. The Commodity Channel Index measures the position of price in
relation to its moving average. This can be used to highlight when the market is
overbought/oversold or to signal when a trend is weakening. The indicator is
similar in concept to Bollinger Bands but is presented as an indicator line
rather than as overbought/oversold levels.
Category
Momentum Indicators
Parameters
N ( Default: 14
Min: 2 Max: 100 )
Chart Script
TYP:= (HIGH + LOW + CLOSE) / 3;
CCI: (TYP - MA(TYP, N)) /
(0.015 * AVEDEV(TYP,
N));
100,Color#808080,NoValueLabel;
-100,Color#808080,NoValueLabel;
FillRgn(CCI>100,
CCI, 100),Brush#20808000;
FillRgn(CCI<-100, CCI,
-100),Brush#20808000;