HPotter

FX Sniper: T3-CCI

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This simple indicator gives you a lot of useful information - when to enter, when to exit
and how to reduce risks by entering a trade on a double confirmed signal.
You can use in the xPrice any series: Open, High, Low, Close, HL2, HLC3, OHLC4 and ect...
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////////////////////////////////////////////////////////////
//  Copyright by HPotter v1.0 25/07/2014
// This simple indicator gives you a lot of useful information - when to enter, when to exit
// and how to reduce risks by entering a trade on a double confirmed signal.
// You can use in the xPrice any series: Open, High, Low, Close, HL2, HLC3, OHLC4 and ect...
////////////////////////////////////////////////////////////
study(title="FX Sniper:  T3-CCI", shorttitle="T3-CCI")
CCI_Period = input(14, minval=1)
T3_Period = input(5, minval=1)
b = input(0.618)
hline(0, color=purple, linestyle=line)
xPrice = close
b2 = b*b
b3 = b2*b
c1 = -b3
c2 = (3*(b2 + b3))
c3 = -3*(2*b2 + b + b3)
c4 = (1 + 3*b + b3 + 3*b2)
nn = iff(T3_Period < 1, 1, T3_Period)
nr = 1 + 0.5*(nn - 1)
w1 = 2 / (nr + 1)
w2 = 1 - w1    
xcci = cci(xPrice, CCI_Period)
e1 = w1*xcci + w2*nz(e1[1])
e2 = w1*e1 + w2*nz(e2[1])
e3 = w1*e2 + w2*nz(e3[1])
e4 = w1*e3 + w2*nz(e4[1])
e5 = w1*e4 + w2*nz(e5[1])
e6 = w1*e5 + w2*nz(e6[1])
xccir = c1*e6 + c2*e5 + c3*e4 + c4*e3  
cciHcolor = iff(xccir >= 0 , green,
        iff(xccir < 0, red, black))
plot(xccir, color=blue, title="T3-CCI")
plot(xccir, color=cciHcolor, title="CCIH", style = histogram)
What is going on in with these calculations I dont even
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Great job HP. Thanks.
Reply
You are welcome
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Thank you, would you please explain by is a double confirmed signal?
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LudmilaHanania LudmilaHanania
sorry, mistype, meant to ask what is a double confirmed signal?
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Dare2 PRO LudmilaHanania
I am not an educator, but the meaning as I see it is that you should have more than one type of indicator to assess the trade you are about to make. There are basically four categories of indicators. They will measure either the trend, momentum, volatility, or volume. You want to avoid using more than one indicator out of each group. Why have multiple indicators that tell you the same thing? Instead utilize indicators that compliment each other, say one from each category to confirm your decision. Hope this helps.
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Is there documentation we can read about this indicator?
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Dare2 PRO joe_vijay
There is a whole lot of documentation on the net. Especially in the forex forums. Sniper is a forex trader. Do a search in forexfactory.com or forex-tsd.com.
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Is there any way this can be applied to Think or swim?
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Can this script be used in think or swim? I tried pasting the Squeeze Momentun indicator but had invalid statements so I called Hahn-Tech and they charge to port it over to think or swim.
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