Recursive CCI - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
Another "experiment" using CCI.
This indicator can calculate CCI of CCI of CCI of CCI ... up to a maximum "level" of 25.
When using level 1 (one), it is the same as "regular" CCI. After that, CCI of CCI is calculated and so on (each new step uses the previous step's CCI value instead of price - it is calculating CCI of CCI not CCI of price). The level is limited to 25 purely for practical reasons (CCI becomes unrecognizable after a certain point), but calculating CCI in code can be easily extended to any (reasonable) level.
The rest of the regular stuff is already included:
Price Smoothing/Filtering - Includes price smoothing methods. Coloring options and alerts. Multiple time frames...
PS: Higher levels of CCI recursion should be used with caution. Recursive methods are highly experimental and should be used as such - don't use it based on first impression, but please test it out thoroughly before using it.
Attachment download
📎 recursive_cci.mq5 (41.82 KB)
Source: MQL5 #17104
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