Recursive CCI Trading Indicator for the MetaTrader 5 terminal, this is a kind of experiment using the standard CCI indicator.
Unlike a standard instrument, the Recursive CCI indicator has several “nested” calculation levels. It can calculate CCI from CCI from CCI from CCI – and so on up to level 25.
When using level 1, we get the usual CCI. After that, the CCI from the CCI is calculated and so on (each new step uses the CCI value from the previous level instead of the price – the CCI from the CCI is calculated instead of the CCI from the price). The levels are limited to 25 for purely practical reasons (CCI becomes unrecognizable after a certain level, but the code can be easily extended to calculate CCI at any reasonable level).
The Recursive CCI indicator includes the usual set of functions:
- floating levels or quantile levels;
- price smoothing / filtering;
- choice of colors and alerts;
- the ability to change the timeframe in the input parameters.
Please note that in the Recursive CCI trading indicator for MT5, higher CCI recursion levels must be used with caution. The recursive method is experimental. So don’t use it based on first impression, but be sure to test it before using
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