Hey traders! Today, we’re diving into the CCI Mimic indicator for MetaTrader 5. This tool is part of a series of innovative experiments designed to enhance your trading experience.
What Makes CCI Mimic Different?
- First off, despite its name, the CCI Mimic isn’t a traditional CCI indicator.
- The calculation method has been significantly adjusted, making the usual fixed level approach of the classic CCI somewhat outdated.
- To tackle this, dynamic levels similar to Donchian channel levels have been integrated.
- You can utilize various types of averages:
- For the main calculation
- For smoothing prices, which helps filter signals without causing too much lag.
Trading Recommendations
- Keep an eye on color changes as potential trading signals!
Comparison with Classic CCI
Let’s compare the CCI Mimic with the traditional CCI:
- You might wonder why it's still called CCI.
- In the upper part of the chart, you’ll see the CCI Mimic, while the classic CCI is displayed below.
- Even though the values differ, the relative values and slopes show remarkable similarities.
That’s a wrap for our overview of the CCI Mimic indicator! It’s a fresh take on a classic tool, and it could be just what you need to improve your trading strategy. Happy trading!
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