This indicator plots from the the with a period of 3, i use it that way to see if a daily candle is or and possible direction of the market while looking on lower timeframes.
Its the standard but with the daily CCI3 coloring, but i prefer more the CCI3
the logic is above 0 line then green and below 0 line then red
Does those indicators recolor ?
Yes, and they should recolor so i can know when CCI3 crosses the zero line.
Just plot the normal (with period 3) on a and see how it realy works and what kind of signals it gives