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Well, it depends on how you use it, if you look for diverters, overbought then it's one thing, but punctures and other voody-patterns then probably another.
To be honest, I once tried to explain to Woody-zombified people that all the nonsense of that senile old man is the same as eggs in profile.... In the end Woody's pterms all boil down to Lambert levels. It's just that Woody has reworked the geometry and put everything under his sauce, while in reality all his paternas are intersections of Lambert levels. The only thing I liked about Woody's indicator design.
By the way, the divergence works very well with CCI if it's properly tuned...
I had good results with CCI and candlestick patterns. I wrote an Expert Advisor with this system and found out that one should use indicators with different periods to determine the entrance to short and long positions. I do not remember the exact relations.
But you can find a suitable Expert Advisor here in CodeBase (for example, to enter the market when the level is crossed) and run it through optimizer selecting indicator period, separately allowing only short or only long positions...
... And the divergence by the way works very well on CCI if it's set up properly...
I had good results with CCI and candlestick patterns. I wrote an Expert Advisor with this system and found out that to determine the entrance to short and long positions one should use indicators with different periods. I do not remember the exact relations.
As for the divergence, I would like to see stable examples
indicators with different periods for high and low is true
But how would you comment on this:
Divergence in price and index movements
As with other technical indicators, if the index is moving up and at the same time the price is moving down, the price will probably start moving up soon. Conversely, if the index is moving down and the price is moving up, the price will probably start falling soon.
The divergence can help especially if it coincides with the first signal: if the index begins to move downward out of the oversold area, and at the same time the price rises, it is a strong sell signal. Conversely: if the index begins to rise after being in the overbought zone and the price falls at the same time, it is a strong bullish sign.
yyyy, the price follows the indicator built on it - hilarious )) I really liked breakouts and the author managed to filter them well with ADX, but after some testing I came to a conclusion that in this case the trade is more based on ADX crossings and the CCI breakouts are kind of calming the soul
the price does not follow the indicator, it is not written there, the sense of the paragraphs is contradictory
CCI is not a breakthrough indicator, it is a very sensitive indicator, it is suitable for divergences; however, the coefficient 0.015 is still unclear, what if it is 0.05 ?
the price does not follow the indicator, it is not written there, the sense of the paragraphs is contradictory
CCI is not a breakthrough indicator, it is a very sensitive indicator, so it is good for divergences, but I do not understand the coefficient 0.015, what if it is 0.05?
Some arbitrary constant 0.015 used in the CCI formula has been added to scale the index so that 70 to 80 per cent of values fall into a channel between +100 per cent and -100 per cent.
What don't you understand?
I really liked breakouts and the author managed to filter them well with ADX, but after some testing I came to a conclusion that in this case the trading is more based on ADX crossings and the CCI breakouts are more for calming the mind
I think so too. ADX readings are quite inert and CCI is a very dynamic indicator.
By the way, where is the author of this thread anyway? I wish he would tell us what is going on. If we had some false signals, it would be good too.
Some arbitrary constant of 0.015 used in the CCI formula was added to scale the index so that 70 to 80 per cent of the values fell into a channel between +100 per cent and -100 per cent.
What don't you understand here ???
I don't like that it is another optimisable parameter, and the head of our "Divergence School" Efi undertakes to prove that this multiplier is unnecessary, is a fit and is going to correct Lambert.
and why don't you comment on this post - Geronimo 06.07.2011 00:51 ?
CCI is not a breakout indicator, but very sensitive and therefore more suitable for divergences