This oscillator is made of a derivated CCI indicator and its standard deviation. The concept behind this indicator is to draw the derivated price over a bounded oscillator.
The 2 standard deviation of the oscillator are dynamic to reflect the near-past high and low deviations.
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ma=average[length](close-close[1]) ret=((close-close[1]) - ma) / (0.015 * std[length](close-close[1])) c = exponentialaverage[smooth](exponentialaverage[smooth](ret)) pos = std[length](c) neg = -std[length](c) hh=highest[length](max(pos,neg)) ll=lowest[length](min(pos,neg)) RETURN hh coloured(0,255,0) as "ob", ll coloured(255,0,0) as "os", c coloured(255,255,0) as "cci" |
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Awesome. Can we have a stock screener for this one too please?
Why not, but a stock screener for what conditions?
Whenever the yellow CCI line goes “outside” the bands. Which will alert us of possible reversal scalp trade. What do you think?
ok why not, please add a request in the appropriate forum section, many thanks.