CCI based MTF indicator

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Does anyone know of a MTF indicator based on CCI that can perform two tasks.

1. Change the chart background of the lower TF chart when CCI-5 with a higher TF crosses zero AND change it back if it recrosses zero. This would result in, if there were several crosses on the same upper TF candle, that the chart background would be changing on the lower TF until the candle was completed in the higher TF.

2. Have an alert box working on the same principle - 'direction up' when CCI-5 crosses above zero and 'direction down' when it recrosses below zero. This would give several signals if the upper TF crosses and recrosses zero.

The chances are substantially diminished of loss making trades because the upper TF has fewer crosses and therefore bigger moves are identified.

Attached are two good indicators that are identical, despite the differing names, but neither have :-

a. A 'recrossing' facility (they do not signal when the zero line is crossed then recrossed in the higher timeframe on the same candle),

b. the ability to work together with each other.

The effect of the indicators loaded together is shown on the 5m Dow chart with 15m and 60m settings on the current indicators - but unfortunately they have compatiblity problems and do not work together in real time.

If the indicators are put on a 4hr chart, the settings would be the daily and the weekly TF.

Appreciate if anyone has seen, or can adapt, such an indicator.

I realise that this may be a new concept but I feel it is very imortant for safer trading.

Regards

TEAMTRADER

 

It is not necessary to modify his indicator. Always put in current time.

What if it must do is to modify the value.

Example

time frame 1 min = 50

If I want to see it in 5 min = 250

/////////////////////

time frame 5 min = 50

If I want to see it in 15 min = 150

/////////////////////

time frame 1 h = 50

If I want to see it in 4 h = 200

The important of this configuration, it is that the reading always is going to be updated. Forgive, I do not speak Englishman, wait to be able to have helped

 

Thank you Ecuaforex,

I will try this on Monday.

Appreciated.

Regards

TEAMTRADER

ecuaforex:
It is not necessary to modify his indicator. Always put in current time.

What if it must do is to modify the value.

Example

time frame 1 min = 50

If I want to see it in 5 min = 250

/////////////////////

time frame 5 min = 50

If I want to see it in 15 min = 150

/////////////////////

time frame 1 h = 50

If I want to see it in 4 h = 200

The important of this configuration, it is that the reading always is going to be updated. Forgive, I do not speak Englishman, wait to be able to have helped
 
TEAMTRADER:
Thank you Ecuaforex,

I will try this on Monday.

Appreciated.

Regards

TEAMTRADER

Actually, acuaforex's idea is good. Dr. Alexander Elder did some similar things with moving averages. CCI can be used in a similar manner too (not all indicators can be used that way though). It will be an approximation of a higher time frame, but not a bad approximation, it might turn out to be exactly what you are looking for

 

The CCI Zone indi will still not do the job properly, but it appears to be the best available until it can be amended.

The alert box of the CCI Zone indicator only fires when the indicator first crosses the set level but if it re-crosses the level the alert box does not pick this up although the chart colour is changed and this is no good for the basis of an EA (what I unlimately hoped to do).

Nevertheless, it is the colour that will guide the manual trade and this is perfect.

I will post the template later in the week when I have tested this live.

There are many safe systems out there, but I am hoping this will be the safest and most simple of all.

Thank you all for your help.

Regards

TEAMTRADER

mladen:
Actually, acuaforex's idea is good. Dr. Alexander Elder did some similar things with moving averages. CCI can be used in a similar manner too (not all indicators can be used that way though). It will be an approximation of a higher time frame, but not a bad approximation, it might turn out to be exactly what you are looking for
 

I was never able to get it to work but will try again using different indicators if I can get the answer to this question.

How can I change the 50 to 55 as a standard CCI zone indicator? Obviously I have tried and failed to get it to change. The mq4 file can show 55 but the indi always shows 50.

Thanks

TEAMTRADER

 
TEAMTRADER:
I was never able to get it to work but will try again using different indicators if I can get the answer to this question.

How can I change the 50 to 55 as a standard CCI zone indicator? Obviously I have tried and failed to get it to change. The mq4 file can show 55 but the indi always shows 50.

Thanks

TEAMTRADER

TEAMTRADER

As far as I see all is Ok

Here is a comparison of a cci(100) and cci(100) zones indicator :

all the crosses and color changes are at correct places

Files:
cci_zones.gif  95 kb
 

It was the mq4 file that will not change - my standard setting is 55 but it always loads as 50.

See mq4 file attached.

TEAMTRADER

Files:
cci_zones1.mq4  7 kb
 
TEAMTRADER:
It was the mq4 file that will not change - my standard setting is 55 but it always loads as 50.

See mq4 file attached.

TEAMTRADER

TEAMTRADER

Try it out now : cci_zones1_1.mq4

Files:
cci_zones1_1.mq4  6 kb
 

Perfect thanks.

TEAMTRADER

 
TEAMTRADER:
Perfect thanks. TEAMTRADER

Happy trading

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