User specifies following variables:
1) CCI Period
2) 'X' - the Extreme CCI level e.g. +/- 140
alerts only given for CCI values under/over these extremes
3) 'Y' - Measure of Flatness. i.e. max. change in CCI value allowed at next period e.g. 5
For overbought scenarios, alert only generated if CCI decreases by 5 or less (i.e between 5 & zero)
For oversold scenarios, alert only generated if CCI increases by 5 or less
Also allowed to set: line colour/style, alert dot colour/size, Live Alert/At close, Alert sound
click to see full image:
Graphic output- a single dot:
Simple logic example would be something like:
- check previous CCI value
- if previous CCI value > X or < -X then check current CCI value
- if current CCI value is between 'X and X-5', then show alert (X and X+5 for oversold)
