Digital_CCI_Woodies_v5

Download script
Digital_CCI_Woodies_v5

This script is a specialized technical analysis tool designed for the MetaTrader platform. It calculates and displays two distinct versions of the Commodity Channel Index (CCI), which is commonly used by traders to identify overbought or oversold conditions in the market.

Core Logic Overview

The script operates by analyzing historical price data to determine how much the current price deviates from its average move. It does this through a multi-step mathematical process:

1. Dual Timeframe Analysis The tool calculates two different types of CCI indicators simultaneously. You can think of these as "Short-Term" and "Long-Term" perspectives:

  • Primary Index: Uses a wider window of data (default period of 14) to identify broader market trends.
  • Secondary Index: Uses a tighter window of data (default period of 6) to capture faster, more immediate price fluctuations.

2. Weighted Moving Averages Instead of simply taking a plain average of past prices, the script uses a sophisticated "weighted" calculation. It assigns specific importance levels (coefficients) to different price points in the recent past. This ensures that the resulting trend line is smoother and less susceptible to random "noise" or minor market hiccups.

3. Deviation and Relative Positioning For each of the two indices, the script performs two critical sub-calculations:

  • Relative Distance: It measures how far the current price has strayed from the weighted moving average.
  • Standard Deviation (Volatility): It calculates the "spread" or volatility of the price movement over its respective period. This tells the tool how much the price typically swings in that timeframe.

4. Final Index Calculation The final values you see on your chart are produced by dividing the Relative Distance by the Standard Deviation.

  • By doing this, the script "normalizes" the data. It essentially converts raw price movement into a consistent score.
  • If the resulting number is very high or very low, it indicates that the price has moved significantly further than what is considered "normal" for that specific timeframe.

Summary for the User

In simple terms, this script acts as a sophisticated "stretch" meter. It looks at two different speeds of market movement and tells you how far the current price is being pulled away from its natural average. By providing both a fast and a slow version of this calculation, it allows you to see both the immediate momentum and the broader trend of the market at a single glance.

Miscellaneous
Implements a curve of type %1
13 Views
0 Downloads
0 Favorites
Digital_CCI_Woodies_v5 
//+------------------------------------------------------------------+
//|                                                          CCI.mq4 |
//|                                              Ramdass programmed  |
//|                               Digital filter from Kenny-Goodman  |
//+------------------------------------------------------------------+
#property indicator_separate_window
#property indicator_buffers 2
#property indicator_color1 DodgerBlue
#property indicator_color2 Red
//---- input parameters
extern int CCIPeriod=14;
extern int CCIPeriod2=6;
//---- buffers
double CCIBuffer[];
double RelBuffer[];
double DevBuffer[];
double MovBuffer[];
double CCIBuffer2[];
double RelBuffer2[];
double DevBuffer2[];
double MovBuffer2[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
   string short_name;
//---- 3 additional buffers are used for counting.
   IndicatorBuffers(8);
   SetIndexBuffer(2, RelBuffer);
   SetIndexBuffer(3, DevBuffer);
   SetIndexBuffer(4, MovBuffer);
   SetIndexBuffer(5, RelBuffer2);
   SetIndexBuffer(6, DevBuffer2);
   SetIndexBuffer(7, MovBuffer2);
//---- indicator lines
   SetIndexStyle(0,DRAW_LINE,STYLE_SOLID,2,SteelBlue);
   SetIndexBuffer(0,CCIBuffer);
   SetIndexStyle(1,DRAW_LINE,STYLE_SOLID,1,Red);
   SetIndexBuffer(1,CCIBuffer2);
//---- name for DataWindow and indicator subwindow label
   short_name="CCI("+CCIPeriod+")";
   IndicatorShortName(short_name);
   SetIndexLabel(0,short_name);
//----
   SetIndexDrawBegin(0,CCIPeriod);
   SetIndexDrawBegin(1,CCIPeriod2);
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Commodity Channel Index                                          |
//+------------------------------------------------------------------+
int start()
  {
   int    i,k,x,s,counted_bars=IndicatorCounted();
   double price,sum,mul;
   if(Bars<=CCIPeriod) return(0);
//---- initial zero
   if(counted_bars<1)
     {
      for(i=1;i<=CCIPeriod;i++) CCIBuffer[Bars-i]=0.0;
      for(i=1;i<=CCIPeriod;i++) DevBuffer[Bars-i]=0.0;
      for(i=1;i<=CCIPeriod;i++) MovBuffer[Bars-i]=0.0;
      for(i=1;i<=CCIPeriod2;i++) CCIBuffer2[Bars-i]=0.0;
      for(i=1;i<=CCIPeriod2;i++) DevBuffer2[Bars-i]=0.0;
      for(i=1;i<=CCIPeriod2;i++) MovBuffer2[Bars-i]=0.0;
     }
//---- last counted bar will be recounted
   int limit=Bars-counted_bars;
   if(counted_bars>0) limit++;
//---- moving average
   sum=0;
   int pos=Bars-counted_bars-1;
//---- initial accumulation
   if(pos<CCIPeriod) pos=CCIPeriod;
   for(i=1;i<CCIPeriod;i++,pos--)
      sum+=0.225654509516691*Close[pos+0]
      +0.219241264585139*Close[pos+1]
      +0.200688479689899*Close[pos+2]
      +0.171992513765923*Close[pos+3]
      +0.136270408129286*Close[pos+4]
      +0.0971644469103302*Close[pos+5]
      +0.0585064796603445*Close[pos+6]
      +0.0237448140297671*Close[pos+7]
      -0.00442869436477854*Close[pos+8]
      -0.0243636783229045*Close[pos+9]
      -0.0355617365834807*Close[pos+10]
      -0.0386306817434228*Close[pos+11]
      -0.0350564564449243*Close[pos+12]
      -0.0268963490805002*Close[pos+13]
      -0.0164157887033052*Close[pos+14]
      -0.00573862260748731*Close[pos+15]
      +0.00342620684434*Close[pos+16]
      +0.00996574022237624*Close[pos+17]
      +0.0134223280887248*Close[pos+18]
      +0.0139394004237978*Close[pos+19]
      +0.0121149938483286*Close[pos+20]
      +0.00883315067608292*Close[pos+21]
      +0.0050235681107559*Close[pos+22]
      +0.00151954406404245*Close[pos+23]
      -0.00108567173532015*Close[pos+24]
      -0.0133301689797048*Close[pos+25];
//---- main calculation loop
   while(pos>=0)
     {
      sum+=0.225654509516691*Close[pos+0]
      +0.219241264585139*Close[pos+1]
      +0.200688479689899*Close[pos+2]
      +0.171992513765923*Close[pos+3]
      +0.136270408129286*Close[pos+4]
      +0.0971644469103302*Close[pos+5]
      +0.0585064796603445*Close[pos+6]
      +0.0237448140297671*Close[pos+7]
      -0.00442869436477854*Close[pos+8]
      -0.0243636783229045*Close[pos+9]
      -0.0355617365834807*Close[pos+10]
      -0.0386306817434228*Close[pos+11]
      -0.0350564564449243*Close[pos+12]
      -0.0268963490805002*Close[pos+13]
      -0.0164157887033052*Close[pos+14]
      -0.00573862260748731*Close[pos+15]
      +0.00342620684434*Close[pos+16]
      +0.00996574022237624*Close[pos+17]
      +0.0134223280887248*Close[pos+18]
      +0.0139394004237978*Close[pos+19]
      +0.0121149938483286*Close[pos+20]
      +0.00883315067608292*Close[pos+21]
      +0.0050235681107559*Close[pos+22]
      +0.00151954406404245*Close[pos+23]
      -0.00108567173532015*Close[pos+24]
      -0.0133301689797048*Close[pos+25];
      MovBuffer[pos]=sum/CCIPeriod;
      sum-=0.225654509516691*Close[pos+CCIPeriod-1+0]
      +0.219241264585139*Close[pos+CCIPeriod-1+1]
      +0.200688479689899*Close[pos+CCIPeriod-1+2]
      +0.171992513765923*Close[pos+CCIPeriod-1+3]
      +0.136270408129286*Close[pos+CCIPeriod-1+4]
      +0.0971644469103302*Close[pos+CCIPeriod-1+5]
      +0.0585064796603445*Close[pos+CCIPeriod-1+6]
      +0.0237448140297671*Close[pos+CCIPeriod-1+7]
      -0.00442869436477854*Close[pos+CCIPeriod-1+8]
      -0.0243636783229045*Close[pos+CCIPeriod-1+9]
      -0.0355617365834807*Close[pos+CCIPeriod-1+10]
      -0.0386306817434228*Close[pos+CCIPeriod-1+11]
      -0.0350564564449243*Close[pos+CCIPeriod-1+12]
      -0.0268963490805002*Close[pos+CCIPeriod-1+13]
      -0.0164157887033052*Close[pos+CCIPeriod-1+14]
      -0.00573862260748731*Close[pos+CCIPeriod-1+15]
      +0.00342620684434*Close[pos+CCIPeriod-1+16]
      +0.00996574022237624*Close[pos+CCIPeriod-1+17]
      +0.0134223280887248*Close[pos+CCIPeriod-1+18]
      +0.0139394004237978*Close[pos+CCIPeriod-1+19]
      +0.0121149938483286*Close[pos+CCIPeriod-1+20]
      +0.00883315067608292*Close[pos+CCIPeriod-1+21]
      +0.0050235681107559*Close[pos+CCIPeriod-1+22]
      +0.00151954406404245*Close[pos+CCIPeriod-1+23]
      -0.00108567173532015*Close[pos+CCIPeriod-1+24]
      -0.0133301689797048*Close[pos+CCIPeriod-1+25];
      pos--;
     }
//---- moving average2
   sum=0;
   pos=Bars-counted_bars-1;
//---- initial accumulation
   if(pos<CCIPeriod2) pos=CCIPeriod2;
   for(i=1;i<CCIPeriod2;i++,pos--)
      sum+=0.225654509516691*Close[pos+0]
      +0.219241264585139*Close[pos+1]
      +0.200688479689899*Close[pos+2]
      +0.171992513765923*Close[pos+3]
      +0.136270408129286*Close[pos+4]
      +0.0971644469103302*Close[pos+5]
      +0.0585064796603445*Close[pos+6]
      +0.0237448140297671*Close[pos+7]
      -0.00442869436477854*Close[pos+8]
      -0.0243636783229045*Close[pos+9]
      -0.0355617365834807*Close[pos+10]
      -0.0386306817434228*Close[pos+11]
      -0.0350564564449243*Close[pos+12]
      -0.0268963490805002*Close[pos+13]
      -0.0164157887033052*Close[pos+14]
      -0.00573862260748731*Close[pos+15]
      +0.00342620684434*Close[pos+16]
      +0.00996574022237624*Close[pos+17]
      +0.0134223280887248*Close[pos+18]
      +0.0139394004237978*Close[pos+19]
      +0.0121149938483286*Close[pos+20]
      +0.00883315067608292*Close[pos+21]
      +0.0050235681107559*Close[pos+22]
      +0.00151954406404245*Close[pos+23]
      -0.00108567173532015*Close[pos+24]
      -0.0133301689797048*Close[pos+25];
//---- main calculation loop
   while(pos>=0)
     {
      sum+=0.225654509516691*Close[pos+0]
      +0.219241264585139*Close[pos+1]
      +0.200688479689899*Close[pos+2]
      +0.171992513765923*Close[pos+3]
      +0.136270408129286*Close[pos+4]
      +0.0971644469103302*Close[pos+5]
      +0.0585064796603445*Close[pos+6]
      +0.0237448140297671*Close[pos+7]
      -0.00442869436477854*Close[pos+8]
      -0.0243636783229045*Close[pos+9]
      -0.0355617365834807*Close[pos+10]
      -0.0386306817434228*Close[pos+11]
      -0.0350564564449243*Close[pos+12]
      -0.0268963490805002*Close[pos+13]
      -0.0164157887033052*Close[pos+14]
      -0.00573862260748731*Close[pos+15]
      +0.00342620684434*Close[pos+16]
      +0.00996574022237624*Close[pos+17]
      +0.0134223280887248*Close[pos+18]
      +0.0139394004237978*Close[pos+19]
      +0.0121149938483286*Close[pos+20]
      +0.00883315067608292*Close[pos+21]
      +0.0050235681107559*Close[pos+22]
      +0.00151954406404245*Close[pos+23]
      -0.00108567173532015*Close[pos+24]
      -0.0133301689797048*Close[pos+25];
      MovBuffer2[pos]=sum/CCIPeriod2;
      sum-=0.225654509516691*Close[pos+CCIPeriod2-1+0]
      +0.219241264585139*Close[pos+CCIPeriod2-1+1]
      +0.200688479689899*Close[pos+CCIPeriod2-1+2]
      +0.171992513765923*Close[pos+CCIPeriod2-1+3]
      +0.136270408129286*Close[pos+CCIPeriod2-1+4]
      +0.0971644469103302*Close[pos+CCIPeriod2-1+5]
      +0.0585064796603445*Close[pos+CCIPeriod2-1+6]
      +0.0237448140297671*Close[pos+CCIPeriod2-1+7]
      -0.00442869436477854*Close[pos+CCIPeriod2-1+8]
      -0.0243636783229045*Close[pos+CCIPeriod2-1+9]
      -0.0355617365834807*Close[pos+CCIPeriod2-1+10]
      -0.0386306817434228*Close[pos+CCIPeriod2-1+11]
      -0.0350564564449243*Close[pos+CCIPeriod2-1+12]
      -0.0268963490805002*Close[pos+CCIPeriod2-1+13]
      -0.0164157887033052*Close[pos+CCIPeriod2-1+14]
      -0.00573862260748731*Close[pos+CCIPeriod2-1+15]
      +0.00342620684434*Close[pos+CCIPeriod2-1+16]
      +0.00996574022237624*Close[pos+CCIPeriod2-1+17]
      +0.0134223280887248*Close[pos+CCIPeriod2-1+18]
      +0.0139394004237978*Close[pos+CCIPeriod2-1+19]
      +0.0121149938483286*Close[pos+CCIPeriod2-1+20]
      +0.00883315067608292*Close[pos+CCIPeriod2-1+21]
      +0.0050235681107559*Close[pos+CCIPeriod2-1+22]
      +0.00151954406404245*Close[pos+CCIPeriod2-1+23]
      -0.00108567173532015*Close[pos+CCIPeriod2-1+24]
      -0.0133301689797048*Close[pos+CCIPeriod2-1+25];
      pos--;
     }
//---- standard deviations
   i=Bars-CCIPeriod+1;
   if(counted_bars>CCIPeriod-1) i=Bars-counted_bars-1;
   mul=0.015/CCIPeriod;
   while(i>=0)
     {
      sum=0.0;
      k=i+CCIPeriod-1;
      while(k>=i)
        {
         price=0.225654509516691*Close[k+0]
         +0.219241264585139*Close[k+1]
         +0.200688479689899*Close[k+2]
         +0.171992513765923*Close[k+3]
         +0.136270408129286*Close[k+4]
         +0.0971644469103302*Close[k+5]
         +0.0585064796603445*Close[k+6]
         +0.0237448140297671*Close[k+7]
         -0.00442869436477854*Close[k+8]
         -0.0243636783229045*Close[k+9]
         -0.0355617365834807*Close[k+10]
         -0.0386306817434228*Close[k+11]
         -0.0350564564449243*Close[k+12]
         -0.0268963490805002*Close[k+13]
         -0.0164157887033052*Close[k+14]
         -0.00573862260748731*Close[k+15]
         +0.00342620684434*Close[k+16]
         +0.00996574022237624*Close[k+17]
         +0.0134223280887248*Close[k+18]
         +0.0139394004237978*Close[k+19]
         +0.0121149938483286*Close[k+20]
         +0.00883315067608292*Close[k+21]
         +0.0050235681107559*Close[k+22]
         +0.00151954406404245*Close[k+23]
         -0.00108567173532015*Close[k+24]
         -0.0133301689797048*Close[k+25];
         sum+=MathAbs(price-MovBuffer[i]);
         k--;
        }
      DevBuffer[i]=sum*mul;
      i--;
     }
   i=Bars-CCIPeriod+1;
   if(counted_bars>CCIPeriod-1) i=Bars-counted_bars-1;
   while(i>=0)
     {
      price=0.225654509516691*Close[i+0]
      +0.219241264585139*Close[i+1]
      +0.200688479689899*Close[i+2]
      +0.171992513765923*Close[i+3]
      +0.136270408129286*Close[i+4]
      +0.0971644469103302*Close[i+5]
      +0.0585064796603445*Close[i+6]
      +0.0237448140297671*Close[i+7]
      -0.00442869436477854*Close[i+8]
      -0.0243636783229045*Close[i+9]
      -0.0355617365834807*Close[i+10]
      -0.0386306817434228*Close[i+11]
      -0.0350564564449243*Close[i+12]
      -0.0268963490805002*Close[i+13]
      -0.0164157887033052*Close[i+14]
      -0.00573862260748731*Close[i+15]
      +0.00342620684434*Close[i+16]
      +0.00996574022237624*Close[i+17]
      +0.0134223280887248*Close[i+18]
      +0.0139394004237978*Close[i+19]
      +0.0121149938483286*Close[i+20]
      +0.00883315067608292*Close[i+21]
      +0.0050235681107559*Close[i+22]
      +0.00151954406404245*Close[i+23]
      -0.00108567173532015*Close[i+24]
      -0.0133301689797048*Close[i+25];
      RelBuffer[i]=price-MovBuffer[i];
      i--;
     }
//---- standard deviations2
   i=Bars-CCIPeriod2+1;
   if(counted_bars>CCIPeriod2-1) i=Bars-counted_bars-1;
   mul=0.015/CCIPeriod2;
   while(i>=0)
     {
      sum=0.0;
      k=i+CCIPeriod2-1;
      while(k>=i)
        {
         price=0.225654509516691*Close[k+0]
         +0.219241264585139*Close[k+1]
         +0.200688479689899*Close[k+2]
         +0.171992513765923*Close[k+3]
         +0.136270408129286*Close[k+4]
         +0.0971644469103302*Close[k+5]
         +0.0585064796603445*Close[k+6]
         +0.0237448140297671*Close[k+7]
         -0.00442869436477854*Close[k+8]
         -0.0243636783229045*Close[k+9]
         -0.0355617365834807*Close[k+10]
         -0.0386306817434228*Close[k+11]
         -0.0350564564449243*Close[k+12]
         -0.0268963490805002*Close[k+13]
         -0.0164157887033052*Close[k+14]
         -0.00573862260748731*Close[k+15]
         +0.00342620684434*Close[k+16]
         +0.00996574022237624*Close[k+17]
         +0.0134223280887248*Close[k+18]
         +0.0139394004237978*Close[k+19]
         +0.0121149938483286*Close[k+20]
         +0.00883315067608292*Close[k+21]
         +0.0050235681107559*Close[k+22]
         +0.00151954406404245*Close[k+23]
         -0.00108567173532015*Close[k+24]
         -0.0133301689797048*Close[k+25];
         sum+=MathAbs(price-MovBuffer2[i]);
         k--;
        }
      DevBuffer2[i]=sum*mul;
      i--;
     }
   i=Bars-CCIPeriod2+1;
   if(counted_bars>CCIPeriod2-1) i=Bars-counted_bars-1;
   while(i>=0)
     {
      price=0.225654509516691*Close[i+0]
      +0.219241264585139*Close[i+1]
      +0.200688479689899*Close[i+2]
      +0.171992513765923*Close[i+3]
      +0.136270408129286*Close[i+4]
      +0.0971644469103302*Close[i+5]
      +0.0585064796603445*Close[i+6]
      +0.0237448140297671*Close[i+7]
      -0.00442869436477854*Close[i+8]
      -0.0243636783229045*Close[i+9]
      -0.0355617365834807*Close[i+10]
      -0.0386306817434228*Close[i+11]
      -0.0350564564449243*Close[i+12]
      -0.0268963490805002*Close[i+13]
      -0.0164157887033052*Close[i+14]
      -0.00573862260748731*Close[i+15]
      +0.00342620684434*Close[i+16]
      +0.00996574022237624*Close[i+17]
      +0.0134223280887248*Close[i+18]
      +0.0139394004237978*Close[i+19]
      +0.0121149938483286*Close[i+20]
      +0.00883315067608292*Close[i+21]
      +0.0050235681107559*Close[i+22]
      +0.00151954406404245*Close[i+23]
      -0.00108567173532015*Close[i+24]
      -0.0133301689797048*Close[i+25];
      RelBuffer2[i]=price-MovBuffer2[i];
      i--;
     }
//---- cci counting
   i=Bars-CCIPeriod+1;
   if(counted_bars>CCIPeriod-1) i=Bars-counted_bars-1;
   while(i>=0)
     {
      if(DevBuffer[i]==0.0) CCIBuffer[i]=0.0;
      else CCIBuffer[i]=RelBuffer[i]/DevBuffer[i];
      i--;
     }
//---- cci counting2
   i=Bars-CCIPeriod2+1;
   if(counted_bars>CCIPeriod2-1) i=Bars-counted_bars-1;
   while(i>=0)
     {
      if(DevBuffer2[i]==0.0) CCIBuffer2[i]=0.0;
      else CCIBuffer2[i]=RelBuffer2[i]/DevBuffer2[i];
      i--;
     }
//----
   return(0);
  }
//+------------------------------------------------------------------+

Similar scripts

Digital_CCI_Woodies_v2

This indicator calculates multi-period Commodity Channel Index values using a custom weighted linear regression model to quantify price deviation from smoothed moving averages.

Digital_CCI_Woodies

This indicator calculates a multi-period Commodity Channel Index by applying a specific weighted coefficient to price actions and normalizing the deviation against standard volatility metrics.

Digital_CCI_Woodies_v1

This indicator computes dual Commodity Channel Index values using a specific weighted price kernel and relative deviation logic to smooth out market noise.

Digital_CCI_Woodies_v6

Digital_CCI_Woodies_v4

This indicator utilizes a specialized weighted price calculation and standard deviation normalization to generate dual-layered Commodity Channel Index oscillations.

Digital_CCI_Woodies_v3

This indicator calculates two distinct Commodity Channel Index values using unique linear weighting coefficients and deviation normalization to identify momentum extremes across multiple timeframes.

StepChoppy_v1[1].3

This indicator categorizes market dynamics into eight distinct states by synthesizing Step Moving Averages with multi-layered RSI momentum crossovers to identify trend strength, retracements, and volatility shifts.

CCI_MA

This indicator quantifies price deviation from a customizable moving average—including SMA, EMA, SMMA, LWMA, and LSMA variants—by normalizing the relative distance against standard deviation units.

hemnina

The indicator extracts and displays the closing prices of the most recent eleven candlesticks directly onto the chart's comment section.

Zee Zee i

This indicator calculates price variance relative to a simple moving average by dividing the current typical price deviation by its historical standard deviation, highlighting extreme momentum extremes.

dex_2Trales_V1

This indicator calculates price boundaries by blending historical daily range averages with real-time expansion of volatility using Standard Deviation or ATR metrics.

Comments