The CCI Color Indicator is a powerful tool designed for traders using MetaTrader 5. It adds a visual layer to the traditional Commodity Channel Index (CCI), making it easier to identify market trends at a glance.
The Concept Behind the CCI Color Indicator
The CCI Color Indicator works by changing the color of the CCI line based on its position relative to the zero line. This coloring helps traders quickly see bullish and bearish signals. Here’s a breakdown of how it operates:
//--- zero crossing if (CCI_Buffer[i-1] < 0.0 && CCI_Buffer[i] >= 0.0) CCC_Colors[i] = 1.0; if (CCI_Buffer[i-1] > 0.0 && CCI_Buffer[i] <= 0.0) CCC_Colors[i] = 0.0; //--- if (CCI_Buffer[i] >= 0.0) CCC_Colors[i] = 1.0; else CCC_Colors[i] = 0.0;
Fig. 1. CCI Color Indicator Visualization
It's important to remember that while the CCI Color Indicator provides valuable signals, these should always be confirmed with a trend indicator. This additional layer of analysis can help you make more informed trading decisions.
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