Woodies CCI indicator is the modified conventional CCI (Commodity Channel Index). The indicator is composed of two CCI, with the periods of 6 and 14. A fast curve is used to forecast the movement of a slow one. The Woodies CCI is also supplemented by a histogram for the slow CCI, which has different colors depending on the conditions. Values of the Woodies CCI index vary near the zero line; they have neither upper, not lower boundaries. The high value of the indicator means the “overbought” price at present; the low value means the “oversold” price. The key levels of the Woodies CCI index are +-100, +-200 and zero line.
Indicator view on the chart.
To add and set up this indicator, open the settings window.
Entry CCI Period -– setup of the period for the Entry CCI line
LSMA Period - setup of the period for the LSMA line
Trend CCI Period - setup of the period for the Trend CCI line
Trend Period - setup of the period for the Trend line
Panel – selection of the indicator position on the chart:
- New panel.
CCI Trend Down
Show value – display of the indicator value on the left on the price scale
Color - color setup of the indicator.
Visual type - visual setup of the indicator display on the chart:
- Up arrow
- Down arrow
- Axis label
Line style - setup of the line display:
Width - width setup for the indicator line.
*Lines CCI Trend Up, Entry CCI, Negative LSMA, No Trend, Positive LSMA, Time Bar, Trend CCI, and Zero Line have the same visual settings that the CCI Trend Down line
Color - color setup of line 100.
Line Style - setup of the line display:
Width - width setup for line 100.
Value - manual setup of a value, line 100.
Text – this option allows adding a text to this line.
* Line -100, 200, -200, 300 and -300, have the same Visual settings 100 line.
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