cc i of average
Info
The cc i of average is a Indicator for MetaTrader 5 that basics: the commodity channel index(cci) is an oscillator originally introduced by donald lambert in 1980. cci measures a security’s variation from the statistical mean.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use cc i of average
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
basics: the commodity channel index(cci) is an oscillator originally introduced by donald lambert in 1980.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Quantora Moving Average Dashboard MT5 - Professional EMA SMA Trend Analysis - another powerful indicator for MetaTrader 5 traders.
Also recommended: Quantora ADR Calculator MT5 - Professional Average Daily Range Indicator for MetaTrader 5 - similar indicator with strong performance on MetaTrader 5.
basics:the
commodity channel index
(
cci
) is an oscillator originally introduced by donald lambert in 1980.
cci measures a security’s variation from the statistical mean.
the cci is calculated as the difference between the typical price of a commodity and its simple moving average, divided by the mean absolute deviation of the typical price. the index is usually scaled by an inverse factor of 0.015 to provide more readable numbers:
where pt is the typical price (high+low+close)/3, sma is the simple moving average, and md is the mean absolute deviation.
for scaling purposes, lambert set the constant at 0.015 to ensure that approximately 70 to 80 percent of cci values would fall between −100 and +100. the cci fluctuates above and below zero. the percentage of cci values that fall between +100 and −100 will depend on the number of periods used. a shorter cci will be more volatile with a smaller percentage of values between +100 and −100. conversely, the more periods used to calculate the cci, the higher the percentage of values between +100 and −100.
simple moving average (sma)
exponential moving average (ema)
smoothed moving average (smma)
linear weighted moving average (lwma)
usage:
chose one of the 3 coloring modes (color change on slope, levels or zero cross) and then you can use the color change as signals.
You may also like: Relative Moving Average (RMA) Indicator for MT5 - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.