Recursive CC I
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Recursive CC I
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.
Description & Settings
One more "experiment" using the CCI.
This indicator can calculate CCI of CCI of CCI of CCI ... up to "level" 25.
When level 1 (one) is used, it is the same as "regular" CCI. After that, CCI of CCI is calculated and so on (each new step uses previous step cci value instead of the price - it is calculating CCI of CCI instead of CCI of price). Levels are limited to 25 purely for practical reasons (the CCI becomes in-recognizable after some level, but it can easily be extended in the code to calculate CCI to any (reasonable) level.
The rest of the usual stuff is already included :
floating levels
or quantile levels.
Price smoothing/filtering - including the price smoothing methods. Coloring choices and alerts. Multi time frame ...
PS: higher levels of CCI recursion should be used with care. The recursive method is highly experimental and should be used as such - do not use it based on a first impression but please do the testing part thoroughly before any usage.
