CCIFilter_vX(2)

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Author: Copyright � 2006, Forex-TSD.com
CCIFilter_vX(2)

This tool is designed to act as a visual trend filter for traders, utilizing the Commodity Channel Index (CCI) to identify market momentum and direction. Rather than just showing a raw data line, it categorizes price action into specific "zones" to help users distinguish between strong trends, mild movements, and neutral territory.

Core Logic and Visualizations

The script processes CCI data to classify the current market state into four distinct categories:

  • Strong Upward Trend: Identified when the indicator exceeds a high positive threshold (the Upper Trigger Level).
  • Mild Upward Trend: Identified when the indicator is positive but remains below that high threshold.
  • Mild Downward Trend: Identified when the indicator is negative but remains above a low negative threshold (the Lower Trigger Level).
  • Strong Downward Trend: Identified when the indicator falls below the low negative threshold.

These categories allow traders to see at a glance whether the market is in a state of aggressive momentum or a more conservative, gradual move. Depending on your settings, these trends can be displayed as continuous lines or as a histogram for different visual preferences.

Signal Monitoring and Alerts

Beyond simply visualizing the trend, the script monitors specific "crossings" to provide real-time notifications. It looks for several key transition points:

  • Zero Crossings: Notifies you when the momentum shifts from negative to positive (potential buy) or positive to negative (potential sell).
  • Trigger Level Crosses: Alerts you specifically when the price momentum breaks through your defined "Upper" or "Lower" trigger levels, signaling a shift into strong trend territory.
  • Critical Level Alerts: Monitors for extreme volatility. If the indicator moves beyond a predefined "Critical Level," it triggers an alert to warn of overextended market conditions.

User Experience Features

The script is designed to be highly interactive and customizable:

  • Customizable Thresholds: You can adjust the periods, trigger levels, and critical limits to match your specific trading style (e.g., scalping vs. swing trading).
  • Visual Cues: It uses arrows to pinpoint exactly where these trend shifts or crossings occur on the chart.
  • Smart Alerting: The notification system is designed to avoid "spam." It ensures that an alert only triggers once per candle, providing a clean and professional heads-up on market changes.
Price Data Components
Series array that contains open time of each bar
Indicators Used
Commodity channel index
Miscellaneous
Implements a curve of type %1It issuies visual alerts to the screen
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CCIFilter_vX(2) 
//+------------------------------------------------------------------+
//|                                                 CCIFilter vX.mq4 |
//|                                                                  |                                      
//|                                                      mod by Raff |   
//+------------------------------------------------------------------+
#property copyright "Copyright © 2006, Forex-TSD.com "
#property link      "http://www.forex-tsd.com/"

#property indicator_separate_window
#property indicator_buffers 7
#property indicator_color1 DodgerBlue
#property indicator_color2 DodgerBlue
#property indicator_color3 DodgerBlue
#property indicator_color4 DodgerBlue
#property indicator_color5 DodgerBlue
#property indicator_color6 DodgerBlue
#property indicator_color7 DodgerBlue
#property indicator_width1 2
#property indicator_width2 2
#property indicator_width3 2
#property indicator_width4 2
#property indicator_width5 2
#property indicator_width6 0
#property indicator_width7 0

//---- input parameters
extern int    CCIPeriod             = 14;
extern int    CCIPrice              = 0;
extern int    UpperTriggerLevel     = 100;
extern int    LowerTriggerLevel     = -100;
extern int    CriticalLevel         = 250;
extern bool   HISTOGRAM             = false;
extern bool   Alerts                = true;
extern string CriticalLevelAlert    = "Critical Level";
extern string ZeroBuyAlert          = "Zero Cross";
extern string ZeroSellAlert         = "Zero Cross";
extern string UpperTriggerBuyAlert  = "Upper Trigger Cross";
extern string UpperTriggerSellAlert = "Upper Trigger Cross";
extern string LowerTriggerBuyAlert  = "Lower Trigger Cross";
extern string LowerTriggerSellAlert = "Lower Trigger Cross";

//---- indicator buffers
double CCI[];
double UpBuffer1[];
double UpBuffer2[];
double DnBuffer1[];
double DnBuffer2[];
double DnArr[];
double UpArr[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
  int init()
  {
   IndicatorBuffers(7);
   
   int DrawType = DRAW_LINE;
   if (HISTOGRAM) DrawType = DRAW_HISTOGRAM;

   SetIndexStyle(0,DRAW_LINE,STYLE_SOLID);
   SetIndexStyle(1,DrawType,STYLE_SOLID);
   SetIndexStyle(2,DrawType,STYLE_SOLID);
   SetIndexStyle(3,DrawType,STYLE_SOLID);
   SetIndexStyle(4,DrawType,STYLE_SOLID);
   SetIndexStyle(5,DRAW_ARROW);
   SetIndexArrow(5,159);
   SetIndexBuffer(5,DnArr);
   SetIndexStyle(6,DRAW_ARROW);
   SetIndexArrow(6,159);
   SetIndexBuffer(6,UpArr);

   SetIndexBuffer(0,CCI);
   SetIndexBuffer(1,UpBuffer1);
   SetIndexBuffer(2,UpBuffer2);
   SetIndexBuffer(3,DnBuffer1);
   SetIndexBuffer(4,DnBuffer2);
   SetIndexBuffer(5,DnArr);
   SetIndexBuffer(6,UpArr);
   
   IndicatorDigits(MarketInfo(Symbol(),MODE_DIGITS));
   
   string short_name;
   short_name="CCI Filter("+CCIPeriod+", "+UpperTriggerLevel+", "+LowerTriggerLevel+", "+CriticalLevel+")";
   IndicatorShortName(short_name);

   SetIndexLabel(0,"CCI");
   SetIndexLabel(1,"UpTrend");
   SetIndexLabel(2,"Mild UpTrend");
   SetIndexLabel(3,"Mild DownTrend");
   SetIndexLabel(4,"DownTrend");
   
   SetIndexDrawBegin(0,CCIPeriod);
   SetIndexDrawBegin(1,CCIPeriod);
   SetIndexDrawBegin(2,CCIPeriod);
   SetIndexDrawBegin(3,CCIPeriod);  
   SetIndexDrawBegin(4,CCIPeriod);

   return(0);
  }

//+------------------------------------------------------------------+
//| CCIFilter                                                        |
//+------------------------------------------------------------------+
int start()
  {
   int shift,trend;
   double CCI0, CCI1;
   double UpDnZero, UpDnBuffer;
   
   if (UpperTriggerLevel<0) UpperTriggerLevel=0;
   if (LowerTriggerLevel>0) UpperTriggerLevel=0;

   for(shift=Bars-CCIPeriod-1;shift>=0;shift--)
   {	
     DnArr[shift]=EMPTY_VALUE;
     UpArr[shift]=EMPTY_VALUE;
  	  CCI[shift]=EMPTY_VALUE;
	  CCI0=iCCI(NULL,0,CCIPeriod,CCIPrice,shift);
	  CCI1=iCCI(NULL,0,CCIPeriod,CCIPrice,shift+1);
  	  UpDnZero=0; UpDnBuffer=1;
     if (!HISTOGRAM) {UpDnZero=EMPTY_VALUE; UpDnBuffer=CCI0; CCI[shift]=CCI0;}
  	  UpBuffer1[shift]=UpDnZero;
  	  UpBuffer2[shift]=UpDnZero;
  	  DnBuffer1[shift]=UpDnZero;
  	  DnBuffer2[shift]=UpDnZero;

	  if (CCI0>UpperTriggerLevel)  UpBuffer1[shift]=UpDnBuffer;
	  if (CCI0>0 && CCI0<=UpperTriggerLevel) UpBuffer2[shift]=UpDnBuffer;
	  if (CCI0<0 && CCI0>=LowerTriggerLevel) DnBuffer1[shift]=UpDnBuffer;
	  if (CCI0<LowerTriggerLevel)  DnBuffer2[shift]=UpDnBuffer;

     if (CCI0>0 && CCI1<=0) {if(!HISTOGRAM) UpArr[shift]=0; if(shift==0) Alerts(ZeroBuyAlert);}
     if (CCI0<0 && CCI1>=0) {if(!HISTOGRAM) DnArr[shift]=0; if(shift==0) Alerts(ZeroSellAlert);}
     if (CCI0>UpperTriggerLevel && CCI1<=UpperTriggerLevel && UpperTriggerLevel>0) {if(!HISTOGRAM) UpArr[shift]=UpperTriggerLevel; if(shift==0) Alerts(UpperTriggerBuyAlert);}
     if (CCI0<UpperTriggerLevel && CCI1>=UpperTriggerLevel && UpperTriggerLevel>0) {if(!HISTOGRAM) DnArr[shift]=UpperTriggerLevel; if(shift==0) Alerts(UpperTriggerSellAlert);}
     if (CCI0>LowerTriggerLevel && CCI1<=LowerTriggerLevel && LowerTriggerLevel<0) {if(!HISTOGRAM) UpArr[shift]=LowerTriggerLevel; if(shift==0) Alerts(LowerTriggerBuyAlert);}
     if (CCI0<LowerTriggerLevel && CCI1>=LowerTriggerLevel && LowerTriggerLevel<0) {if(!HISTOGRAM) DnArr[shift]=LowerTriggerLevel; if(shift==0) Alerts(LowerTriggerSellAlert);}
     if (MathAbs(CCI0)>CriticalLevel && MathAbs(CCI1)<=CriticalLevel) {if(shift==0) Alerts(CriticalLevelAlert);}
     if (MathAbs(CCI0)<CriticalLevel && MathAbs(CCI1)>=CriticalLevel) {if(shift==0) Alerts(CriticalLevelAlert);}
	}

	return(0);	
 }

void Alerts(string AlertText)
  {
    static datetime timeprev;
    if(timeprev<iTime(NULL,0,0) && Alerts) {timeprev=iTime(NULL,0,0); Alert(AlertText," ",Symbol()," - ",Period(),"  at  ", Close[0],"  -  ", TimeToStr(CurTime(),TIME_SECONDS));}
  }

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