Combi CCI (CCCI): A Comprehensive Multi-Timeframe Indicator
Combi CCI (CCCI) is a powerful indicator that combines the Commodity Channel Index (CCI) across multiple timeframes. The purpose of CCCI is to provide a holistic view of the CCI, as it often happens that the CCI reaches its minimum or maximum value while the price continues to move in the same direction.
Seamless Integration of Timeframes for Enhanced Analysis
By incorporating CCI readings from different timeframes, CCCI eliminates the need for constantly switching between charts. You can keep a lower timeframe chart open while simultaneously benefiting from the insights provided by CCCI based on a higher timeframe.
Flexible Settings to Tailor the Indicator
CCCI offers customizable settings to suit your trading preferences. You can choose three timeframes of your choice and assign weights to each timeframe. If you prefer to work with only two timeframes, you have the option to assign a weight of 0 to the third timeframe.
Weighting Factor: Determining Importance
The assigned weight for each timeframe is crucial in determining its significance in the CCCI calculation. While the weight can be any non-negative number, it is the relative weights that matter the most. A higher weight value indicates a greater importance placed on that specific timeframe in the CCCI analysis.
Utilizing CCCI as an Effective Tool
While CCCI can be used as a regular CCI indicator, such as identifying buying opportunities in the oversold range or selling opportunities in the overbought range, it is essential to note that CCCI is not intended to be used as a standalone indicator. To make informed trading decisions, it is highly recommended to seek confluence with other indicators and analyze the overall market context.
Indicator analysis
Furthermore, the CCCI indicator includes built-in analysis on top of the indicator data. You can choose from SMA, EMA, BB, or you have an option to turn this feature off by selecting None. This provides an additional layer of information on top of the indicator data.
The indicator also includes automatic divergence detection. The data is correlated with the opened price chart, and bullish, bearish, both normal and hidden divergences are also visually displayed in the indicator area.