If you're looking to enhance your trading game, the XCCX indicator for MetaTrader 5 could be just what you need! This tool is a modified version of the Commodity Channel Index (CCI) and offers some unique features that set it apart from the standard version.
One of the standout features of XCCX is its ability to adjust the smoothing algorithm, giving you the flexibility to choose from ten different algorithms:
- SMA - Simple Moving Average;
- EMA - Exponential Moving Average;
- SMMA - Smoothed Moving Average;
- LWMA - Linear Weighted Moving Average;
- JJMA - JMA Adaptive Average;
- JurX - Ultralinear Smoothing;
- ParMA - Parabolic Smoothing;
- T3 - Tillson's Multiple Exponential Smoothing;
- VIDYA - Smoothing with Tushar Chande's Algorithm;
- AMA - Smoothing with Perry Kaufman's Algorithm.
It's important to note that the Phase parameter varies in meaning depending on the smoothing algorithm you choose. Here’s a quick breakdown:
- For JMA, it’s an external Phase variable ranging from -100 to +100.
- For T3, it’s a smoothing ratio multiplied by 100 for better visualization.
- For VIDYA, it refers to the CMO period, while for AMA, it’s the slow EMA period.
- In AMA, the fast EMA period is set to a default value of 2, and the ratio of raising to the power is also 2.
As you explore these options, keep in mind that different smoothing variants may require a fresh look at the indicator signals. The oversold/overbought levels are dynamically adjusted based on the Bollinger Bands®, allowing for more accurate trading decisions.
The indicator utilizes SmoothAlgorithms.mqh library classes, which you'll need to place in the terminal_data_folder\MQL5\Include. For a detailed explanation of how to use these classes, check out the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
Comments 0