Trading Channel Index (TCI)

[Amy1234]

Anyone have this indicator for MT4?

I have it for Amibroker but want to use it on Metatrader4 also. Here is the code for Amibroker, maybe someone can translate it into MT4 indicator.

n1 = ChannelPeriods; // Channel periods defaultvar is 10.

n2 = AvgPeriods; // Average periods defaultvar is 21.

AP = Avg; //Typical Price (High+Low+close)/3

ESA = EMA(AP, n1);

D = EMA(abs(AP - ESA), n1);

CI = (AP - ESA) / (0.015 * D);

TCI = EMA(CI, n2);

thanks.

[nittany1]

CCI has a faster response than TCI, foreign exchange has the potential, and often does, change directions very quickly. I would think you would want to use CCI instead. TCI is better suited to equity markets.