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CCI of average - indicator for MetaTrader 5

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by , 10-22-2018 at 12:56 PM (892 Views)
      
   
CCI of average - indicator for MetaTrader 5

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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.

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