HPotter

FX Sniper: T3-CCI

2445 9 263
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)
kakola
2 years ago
What is going on in with these calculations I dont even
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Dare2 PRO
2 years ago
Great job HP. Thanks.
Reply
HPotter PRO Dare2
2 years ago
You are welcome
Reply
LudmilaHanania
2 years ago
Thank you, would you please explain by is a double confirmed signal?
Reply
LudmilaHanania LudmilaHanania
2 years ago
sorry, mistype, meant to ask what is a double confirmed signal?
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Dare2 PRO LudmilaHanania
2 years ago
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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joe_vijay PRO
2 years ago
Is there documentation we can read about this indicator?
Reply
Dare2 PRO joe_vijay
2 years ago
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.
Reply
singhizhem
2 months ago
Is there any way this can be applied to Think or swim?
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