Theory:
The CCI (Commodity Channel Index) indicator we're discussing here takes a slightly different approach compared to the standard CCI. Here are the two key differences:
- It utilizes standard deviations for its calculations instead of the usual mean absolute deviation.
- It incorporates a double smoothed Wilder's EMA for price filtering, which helps to weed out some of those pesky false signals.
Usage:
You can use this CCI indicator just like any regular CCI—it's straightforward!
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