DoubleCCI_Woodies_v1

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Author: Copyright � 2005, Jason Robinson (jnrtrading).
DoubleCCI_Woodies_v1

This technical tool is designed to help traders identify market trends and potential entry points by analyzing price momentum through a dual-layered approach. Instead of relying on a single indicator, it processes two different variations of the Commodity Channel Index (CCI) simultaneously to filter out market noise and provide clearer signals.

Core Logic Overview

The script functions by tracking two distinct types of data: a Trend CCI and an Entry CCI.

  • Trend CCI: This is designed to establish the broader direction of the market. It looks at longer-term movements to determine if the overall sentiment is bullish (upward) or bearish (downward).
  • Entry CCI: This acts as a faster, more responsive component intended to identify specific moments where a trade might be initiated based on immediate price action.

Visual and Functional Behavior

The script visualizes this data in several ways on your trading platform:

  • Trend Identification: The tool categorizes the market into three distinct states based on the Trend CCI's movement above or below the zero line. It uses a "buffer" logic to ensure that a trend is only confirmed after it has persisted for a certain number of bars, preventing you from reacting to minor, temporary fluctuations.
  • Histogram Visualization: It utilizes colored histograms to represent different market conditions:
    • Upward Trends: Highlighted when the broader momentum is strongly positive.
    • Downward Trends: Highlighted when the broader momentum is strongly negative.
    • Neutral/Transition Zones: These identify periods where the market is shifting between directions or lacks a definitive trend.
  • Dynamic Timeframe Adjustment: A unique feature of this script is its ability to automatically adjust its internal settings based on the timeframe you are viewing (e.g., switching parameters automatically when moving from a 1-minute chart to a 1-hour chart). This ensures the indicator remains relevant regardless of your preferred analysis scale.

Alerts and Notifications

The script includes an optional notification system. If enabled, it monitors for "Zero Crosses"—the moment when both the Trend and Entry indicators cross the zero line in the same direction simultaneously. When this happens, the tool can trigger a real-time alert, notifying you that both the broad trend and the immediate entry momentum have aligned, potentially signaling a high-probability trading opportunity.

Indicators Used
Commodity channel index
Miscellaneous
Implements a curve of type %1It issuies visual alerts to the screen
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DoubleCCI_Woodies_v1 
/*-----------------------------+
|			       |
| Shared by www.Aptrafx.com    |
|			       |
+------------------------------*/

//+------------------------------------------------------------------+
//|                                                    DoubleCCI.mq4 |
//|                   Copyright © 2005, Jason Robinson (jnrtrading). |
//|                                      http://www.jnrtrading.co.uk |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005, Jason Robinson (jnrtrading)."
#property link      "http://www.jnrtrading.co.uk"

#property indicator_separate_window
#property indicator_buffers 7
#property indicator_color1 Green
#property indicator_color2 Red
#property indicator_color3 White
#property indicator_color4 Gold
#property indicator_color5 Blue
#property indicator_color6 DarkGray
#property indicator_color7 Gold
#property indicator_level1 50
#property indicator_level2 100
#property indicator_level3 150
#property indicator_level4 200
#property indicator_level5 -200
#property indicator_level6 -150
#property indicator_level7 -100
#property indicator_level8 -50

//---- input parameters
extern int TrendCCI_Period = 14;
extern int EntryCCI_Period = 6;
extern bool Zero_Cross_Alert;
extern bool Automatic_Timeframe_Setting = false;
extern int M1_TrendCCI_Period = 50;
extern int M1_EntryCCI_Period = 14;
extern int M5_TrendCCI_Period = 50;
extern int M5_EntryCCI_Period = 14;
extern int M15_TrendCCI_Period = 14;
extern int M15_EntryCCI_Period = 6;
extern int M30_TrendCCI_Period = 14;
extern int M30_EntryCCI_Period = 6;
extern int H1_TrendCCI_Period = 14;
extern int H1_EntryCCI_Period = 6;
extern int H4_TrendCCI_Period = 14;
extern int H4_EntryCCI_Period = 6;
extern int D1_TrendCCI_Period = 14;
extern int D1_EntryCCI_Period = 6;
extern int W1_TrendCCI_Period = 14;
extern int W1_EntryCCI_Period = 6;
extern int MN_TrendCCI_Period = 14;
extern int MN_EntryCCI_Period = 6;


double TrendCCI[];
double EntryCCI[];
double CCITrendUp[];
double CCITrendDown[];
double CCINoTrend[];
double CCITimeBar[];
double ZeroLine[];

int trendUp, trendDown;

//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()  {
//---- indicators
   SetIndexStyle(4, DRAW_LINE, STYLE_SOLID, 2);
   SetIndexBuffer(4, TrendCCI);
   SetIndexLabel(4, "TrendCCI");
   SetIndexStyle(0, DRAW_HISTOGRAM, 0, 3);
   SetIndexBuffer(0, CCITrendUp);
   SetIndexStyle(1, DRAW_HISTOGRAM, 0, 3);
   SetIndexBuffer(1, CCITrendDown);
   SetIndexStyle(2, DRAW_HISTOGRAM, 0, 3);
   SetIndexBuffer(2, CCINoTrend);
   SetIndexStyle(3, DRAW_HISTOGRAM, 0, 3);
   SetIndexBuffer(3, CCITimeBar);
   SetIndexStyle(5, DRAW_LINE, STYLE_SOLID, 2);
   SetIndexBuffer(5, EntryCCI);
   SetIndexLabel(5, "EntryCCI");
   SetIndexStyle(6, DRAW_LINE, STYLE_SOLID, 2);
   SetIndexBuffer(6, ZeroLine);   
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//---- 
   
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start() {

   int limit, i, trendCCI, entryCCI;
   int counted_bars = IndicatorCounted();
   static datetime prevtime = 0;
//---- check for possible errors
   if(counted_bars < 0) return(-1);
//---- last counted bar will be recounted
   if(counted_bars > 0) counted_bars--;

   limit=Bars;//-counted_bars;
   
   if (Automatic_Timeframe_Setting == true) {
      switch(Period()) {
         case 1: trendCCI = M1_TrendCCI_Period; entryCCI = M1_EntryCCI_Period; break;
         case 5: trendCCI = M5_TrendCCI_Period; entryCCI = M5_EntryCCI_Period; break;
         case 15: trendCCI = M15_TrendCCI_Period; entryCCI = M15_EntryCCI_Period; break;
         case 30: trendCCI = M30_TrendCCI_Period; entryCCI = M30_EntryCCI_Period; break;
         case 60: trendCCI = H1_TrendCCI_Period; entryCCI = H1_EntryCCI_Period; break;
         case 240: trendCCI = H4_TrendCCI_Period; entryCCI = H4_EntryCCI_Period; break;
         case 1440: trendCCI = D1_TrendCCI_Period; entryCCI = D1_EntryCCI_Period; break;
         case 10080: trendCCI = W1_TrendCCI_Period; entryCCI = W1_EntryCCI_Period; break;
         case 43200: trendCCI = MN_TrendCCI_Period; entryCCI = MN_EntryCCI_Period; break;
      }
   }
   else {
      trendCCI = TrendCCI_Period;
      entryCCI = EntryCCI_Period;
   }
      IndicatorShortName("(TrendCCI: " + trendCCI + ", EntryCCI: " + entryCCI + ") ");   
   
   for(i = limit; i >= 0; i--) {
      CCINoTrend[i] = 0;
      CCITrendDown[i] = 0;
      CCITimeBar[i] = 0;
      CCITrendUp[i] = 0;
      ZeroLine[i] = 0;
      TrendCCI[i] = iCCI(NULL, 0, trendCCI, PRICE_TYPICAL, i);
      EntryCCI[i] = iCCI(NULL, 0, entryCCI, PRICE_TYPICAL, i);
      
      if(TrendCCI[i] > 0 && TrendCCI[i+1] < 0) {
         if (trendDown > 4) trendUp = 0;
      }
      if (TrendCCI[i] > 0) {
         if (trendUp < 5){
            CCINoTrend[i] = TrendCCI[i];
            trendUp++;
         }
         if (trendUp == 5) {
            CCITimeBar[i] = TrendCCI[i];
            trendUp++;
         }
         if (trendUp > 5) {
            CCITrendUp[i] = TrendCCI[i];
         }
      }
      if(TrendCCI[i] < 0 && TrendCCI[i+1] > 0) {
         if (trendUp > 4) trendDown = 0;
      }
      if (TrendCCI[i] < 0) {
         
         if (trendDown < 5){
            CCINoTrend[i] = TrendCCI[i];
            trendDown++;
         }
         if (trendDown == 5) {
            CCITimeBar[i] = TrendCCI[i];
            trendDown++;
         }
         if (trendDown > 5) {
            CCITrendDown[i] = TrendCCI[i];
         }
      }
   }
   
   if (Zero_Cross_Alert == true) {
      if (prevtime == Time[0]) {
         return(0);
      }
      else {
         if(EntryCCI[0] < 0) {
            if((TrendCCI[0] < 0) && (TrendCCI[1] >= 0)) {
               Alert(Symbol(), " M", Period(), " Trend & Entry CCI Have both crossed below zero");
            }
         }
         else if(EntryCCI[0] > 0) {
            if((TrendCCI[0] > 0) && (TrendCCI[1] <= 0)) {
               Alert(Symbol(), " M", Period(), " Trend & Entry CCI Have both crossed above zero");
            }
         }
         prevtime = Time[0];
      }
   }
//---- 
   
//----
   return(0);
  }
//+------------------------------------------------------------------+

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