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captvict
Posted : Sunday, January 25, 2015 9:31:25 PM
Registered User
Joined: 1/7/2006
Posts: 6

Hi and hope you are well...I swing trade a short CCI 5 crossover both up and down...I am having trouble planning an easy scan.  What I am looking for is the CCI 5 (already over 100) for x (any amount) of days to cross back down through the CCI 5 (-100)...

I am looking for this on the long side as well...CCI 5 under -100 for x days and then makes a move and crosses above the CCI 5 +100...I think I was struggling with figuring a formula with it already coming from a high or low +/-100...and then moving quickly back down...Thanks ahead of time...Vic

Bruce_L
Posted : Monday, January 26, 2015 4:31:14 PM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

The cross down through -100 or cross up through 100 conditions are easy. Add the CCI to the chart and adjust its settings as desired.

Adding and Moving Indicators (7:19)

Then click on the CCI indicator and select Create Scan Condition to create conditions for crosssing down through -100 or crossing up through 100.

Create Conditions from Your Chart (5:25)

We'll have to get a bit creative to check for price being above 100 for x bars before crossing down through -100 or being below -100 for x bars before crossing up through 100.

I think we can do something similar to what you want by adding Donhian Channels to the CCI indicator.

The trick will be in creatively adjusting the Period and Offset settings of the Donchian Channel so we can create our other conditions.

We are going to click on the Donchian Channels and select Create Scan Condition to create a condition for the Chan Bottom - Greater Than 100 in the first case or for Chan Top - Less Than -100 in the second case.

You will use EasyScans to combine the condition based on the Donchian Channel with the condition based directly on the CCI.

Building a Scan with Multiple Conditions (7:29)

Now the offset is the number of recent bars to exclude. So if it is set to 1, then the cross will need to have happened between the previous bar and the current bar. If you set it to 2, then the cross can can happen either between the previous bar and the current bar or between 2 bars ago and the current bar. You can adjust this as high as you want, but shouldn't adjust it to less than 1.

The Period of the Donchian Channels is the number of bars that CCI needs to have been above 100 or less than -100. But keep in mind that there is a bit of a slush factor because of the offset. If the Offset is 1, the the Period is going to exactly describe the number of bars. But If the Period is 2, we aren't going to be checking the value of 1 bar ago



-Bruce
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