RSI & CCi SIGNAl

The RSI & CCi SIGNAl indicator identifies potential trend reversal and momentum breakout points by combining crossovers from the Relative Strength Index (RSI) and the Commodity Channel Index (CCI).

Usage

The indicator can be used to spot entry and exit opportunities based on oversold and overbought conditions. Users can choose to display signals from one or both oscillators simultaneously.

• RSI Signals: A "BUY" label appears when the RSI crosses above the oversold level (default 30). A "SELL" label appears when the RSI crosses below the overbought level (default 70).
• CCI Signals: A "B" label appears when the CCI crosses above the -100 level. An "S" label appears when the CCI crosses below the 100 level.
• Trend Filtering: Users can filter signals based on the "RAVAND" setting to show only ascending, descending, or both signal types.

Details

The script calculates the standard RSI and CCI values based on user-defined lengths and sources.

• RSI: Uses a default length of 14 to measure the speed and change of price movements.
• CCI: Uses a default length of 20 and a source of HLC3 to measure the current price level relative to an average price level over a given period. The logic triggers a signal precisely when the oscillator line crosses the specified threshold levels, highlighting potential shifts in market momentum.

Settings

Signal

• Show RSI SIGNAl: Toggles the visibility of RSI-based labels on the chart.
• Show CCI SIGNAl: Toggles the visibility of CCI-based labels on the chart.
• RAVAND: Filters signals based on direction (Ascending, Descending, or Both).

RSI

• Sell Value RSI: Sets the threshold for short signals (overbought level).
• Buy Value RSI: Sets the threshold for long signals (oversold level).
• Source RSI: Determines the price data used for RSI calculations.
• Length of the RSI: Adjusts the lookback period for the RSI calculation.

CCI

• Length of the CCI: Adjusts the lookback period for the CCI calculation.
• Source CCI: Determines the price data used for CCI calculations (default is HLC3).

FAQ

How do I interpret the different labels?

Labels marked "BUY" or "SELL" are generated by the RSI, while labels marked "B" or "S" are generated by the CCI. When both appear, it indicates a confluence of both oscillators.

Can I change the sensitivity of the signals?

Yes, by adjusting the Length and Value settings in the RSI and CCI sections, you can make the indicator more or less sensitive to price fluctuations.

How can I access RSI & CCi SIGNAl?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.