JustUncleL

Coloured CCI Histogram V2.0 by JustUncleL

This is a requested update of this script. This is a standard CCI indicator that shows a coloured histogram of important CCI levels, giving a good visual of the CCI levels. Added to this version is an extra coloured level +/-200 and an option to calculate CCI with EMA instead of the standard SMA .

CCI LEVELS:

  • Light Green - Greater than 0 and less than 100.
  • Green - Greater than 100 and less than 200.
  • Aqua - Greater than 200.
  • Light Red - Less than 0 and greater than -100.
  • Red - Less than -100 and greater than -200.
  • Magenta - Less than -200.

If you would like different colour arrangement just change them in the "Style" settings of the indicator.
Release Notes: New version adds:
  • Main chart bar colouring matching CCI levels.
  • Option to use Traditional CCI calculations.

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JustUncleL
Nice indi, thanks
Svara
CCI calculation correction, according to the definitions I have for CCI calculation line 34 should read:

CCI = (src - ma) / (0.015 * dev((src - ma),len))

Sorry for the mistake, I used the calc from another script, I did not check it.
Svara
JustUncleL JustUncleL
@JustUncleL, Be aware the TradingView built-in CCI indicator also uses the CCI formula used in my script, which does not follow the traditional formula. If anyone can explain why there is a formula difference please comment.
Svara
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