CCI trend and extreme indicator
This employ multi time frame analysis to give a good visual of where is the market is at.
green = general market is trending up from the confluence of 3 different time frame
red = general market is trending down from the confluence of 3 different time frame
Bright green = overbought and trend is likely to reverse
Bright red = oversold and trend is likely to reverse
green = general market is trending up from the confluence of 3 different time frame
red = general market is trending down from the confluence of 3 different time frame
Bright green = overbought and trend is likely to reverse
Bright red = oversold and trend is likely to reverse
study(title="Commodity Channel Index", shorttitle="CCI Momentum") length = input(20, minval=1) src = input(close, title="Source") ma = sma(src, length) length1 = input(60, minval=1) ma1 = sma(src, length1) length2 = input(240, minval=1) ma2 = sma(src, length2) cci = (src - ma) / (0.015 * dev(src, length)) cci1 = (src - ma1) / (0.015 * dev(src, length1)) cci2 = (src - ma2) / (0.015 * dev(src, length2)) data = cci > 0 and cci1 > 0 and cci2 > 0 data1 = cci < 0 and cci1 < 0 and cci2 < 0 bgUp = (data) ? green : na bgDown = (data1) ? red : na bgUp1 = (cci > 200 and cci1 > 200 and cci2 >200) ? green : na bgDown1 = (cci < -200 and cci1 < -200 and cci2 < -200) ? red : na bgcolor(bgUp, transp=60) bgcolor(bgDown, transp=60) bgcolor(bgUp1, transp=0) bgcolor(bgDown1, transp=0)