This is my thank you to the TradingView community, for the people who are sharing their scripts, which allowed me to learn Pine Script.
So here is my first creation, feel free to experiment, modify and use it as you wish.
It is a CCI(default value is 100, can be changed), combined with an EMA of that CCI(default 21,changeable) that then colors the background...
BossHouse - CCI Extended ( An Extended version of the Original CCI ).
The commodity channel index (CCI) is an oscillator originally introduced by Donald Lambert in 1980.
Lambert's trading guidelines for the CCI focused on movements above +100 and below −100 to generate buy and sell signals. Because about 70 to 80 percent of the CCI values are...
I've not seen any reprensentation of this type based on CCI chanel....
This indicator is an hybrid between CCI and MACD.
The CCI MACD line is calculated using a moving average between 2 CCI period a (FastCCI - SlowCCI) aplied on the (Fast + Slow) periods
The CCI signal line is a moving average of (CCI MACD line, on the signal line smoothing length.
READ NOTE BEFORE APPLYING or you may think indicator doesnt work.
This indicator is a revise of another i made and contains 10 Optional Indicators allowing you to load more then 3 indicators at once if you so choose and dont pay for the platform!
Hopefully someone will find use for this script besides me :) I dont suggest turning all on at once because it
General Market sentiment decoded from two Lazybear OBV's and a CCI.
Lots of strategies with this.
Main point is this indicator tries to be extra sensitive to relative volume changes but keep grounded in sentiment with the cci.
Let me know if you use this!
I took the normal CCI version and I made it better and more pleasantly visual.
At the same time now the CCI changes color based on the direction is going to take
We also have more levels, to define even better the current situation.
Details are simple :
green color cci = uptrend - > buy
red color cci = downtrend - > sell