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.
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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.