Floating levels based on CCI T3 - MetaTrader 5 script | Trading script download - MT4/MT5 resources

Usually CCI is calculated using the mean (simple moving average) and the average deviation. This resulted in the use of CCI as we all know it.

Smoother results can be achieved in a number of ways. Prices can be smoothed (mean or biased) before being used in calculations, and the mean and bias can then be used instead.

In this version, the average is replaced by T3 and the deviation is replaced by EMA deviation. The reason for not using T3 bias is simple: T3 bias can be negative, which makes it unsuitable for CCI calculations, but regardless, this result is responsive and fast (as expected), and better than the original CCI (also as expected). It also adds floating levels (rather than using fixed levels), which allows it to respond better to changes in market conditions and also makes it an adaptive CCI

When using this indicator, you can use color changes as signals

Attachment download

📎cci_-_t3_based_-_fl.mq5 (16.72 KB)

Source: MQL5 #22401