PROTECTED SOURCE SCRIPT
CCI Highlighted [ankit4349]
Updated
>> This script is purely based on Commodity Channel Index (CCI) with multiple CCI instances being used within one oscillator.
>> User can use as much as 5 CCI instances/plot within one oscillator.
> How to use :
1. When Bullish :
Whenever CCI length 14 crosses above -100(negative 100) that means bullish momentum is supported.
Best bullish/long entry would be when CCI length 14 crosses above -100(negative 100) as mentioned above and at the same time CCI length
200 is bouncing on top of +100(positive 100).
2. When Bearish :
Whenever CCI length 14 crosses below +100(positive 100) that means bearish momentum is supported .
Best bearish/short entry would be when CCI length 14 crosses below +100(positive 100) as mentioned above and at the same time CCI length
200 is bouncing at bottom of -100(negative 100) .
> Color Clarity :
a. Bullish support is highlighted GREEN and bearish support is highlighted RED within the oscillator background with respect to
Length 1 (i.e 14 by default) .
b. PURPLE is highhighted when Length 5(i.e 200 by default) is bouncing either on top of +100(for bullish) or at bottom of -100(for bearish).
c. AQUA is highlighted when Length 3(i.e 50 by default) is bouncing on top or at bottom of 0 from either side respectively.
d. Best entry in both cases i.e bullish or bearish as mentioned above('How to use') is highlighted WHITE by default.
> Tip:
Just observe the color outputs on any timeframe in a chart as it works fractally on every timeframe , it will help you understand better with
clarity.
> You are always free to experiment with the CCI lengths, change highlighted color and hide/unhide the Lengths as per your requirements in
setting/format .
>> User can use as much as 5 CCI instances/plot within one oscillator.
> How to use :
1. When Bullish :
Whenever CCI length 14 crosses above -100(negative 100) that means bullish momentum is supported.
Best bullish/long entry would be when CCI length 14 crosses above -100(negative 100) as mentioned above and at the same time CCI length
200 is bouncing on top of +100(positive 100).
2. When Bearish :
Whenever CCI length 14 crosses below +100(positive 100) that means bearish momentum is supported .
Best bearish/short entry would be when CCI length 14 crosses below +100(positive 100) as mentioned above and at the same time CCI length
200 is bouncing at bottom of -100(negative 100) .
> Color Clarity :
a. Bullish support is highlighted GREEN and bearish support is highlighted RED within the oscillator background with respect to
Length 1 (i.e 14 by default) .
b. PURPLE is highhighted when Length 5(i.e 200 by default) is bouncing either on top of +100(for bullish) or at bottom of -100(for bearish).
c. AQUA is highlighted when Length 3(i.e 50 by default) is bouncing on top or at bottom of 0 from either side respectively.
d. Best entry in both cases i.e bullish or bearish as mentioned above('How to use') is highlighted WHITE by default.
> Tip:
Just observe the color outputs on any timeframe in a chart as it works fractally on every timeframe , it will help you understand better with
clarity.
> You are always free to experiment with the CCI lengths, change highlighted color and hide/unhide the Lengths as per your requirements in
setting/format .
Release Notes
No major change, just length1 plot style is changed to area (previously it was simple line) for visual clarity.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.