CCI + WAVE-PM (Lite) [ACatWithCharts]

24 Dis 2018

This indicator adds WAVE-PM overexpansion highlighting to CCI. This is a "lite" version of the script - it is limited to using just SMA and regular STDEV, resulting in a faster-loading and more stable indicator for general use.

CCI and particularly relatively short-period CCI rollovers provide a useful entry signal when trading a volatility-based strategy, as it in effect provides similar readings to a 1.25 STDEV BBand in the format of an oscillator. WAVE-PM offers a tool for choosing spots where overhead period lengths have been heavily compressed or overexpanded, creating and entry/exit condition, while a short period length CCI then can provide a reasonable signal to trigger the entry/exit.



I'm excited to announce that we're putting the finishing touches on a subscription service for the volatility theory indicators, and assuming no hiccups will launch them within days. Subscriptions will be available in several packages through SharkCharts.live

Current pricing and subscription details will be kept up-to-date on SharkCharts.live

24 Dis 2018

Nota Keluaran

Implemented background color highlights for compression and overexpansion readings, as well as color coding on the CCI trace for WAVE-PM status on the measured period length. Both highlighting schemes can be toggled.

30 Dis 2018

Nota Keluaran

Upgraded to a quad CCI, adding 3 more traces.

1 Jan 2019

Nota Keluaran

This update adds a drop-down menu to switch between a quad CCI and a single CCI with length = to WAVE-PM length. This should make it more convenient to set up / switch between those two different use cases.

5 Apr 2019

Nota Keluaran

Based on a really good idea from subscribers, I've added a menu to set the WAVE-PM length to any of the CCI traces in Quad CCI mode.

I also added an option to apply an Ehlers SuperSmoother to CCI. This is a low lag filter for low period cyclical noise. By default, it's set to 10 period, but I think if you're using it for 14 period signals you probably will want to set it lower, depending on the volatility of what you're trading.

4 Jul 2019

Nota Keluaran

Several improvements and bugfixes. You can now use separate WAVE-PM lengths for the CCI coloring and the background highlights.

17 Jul 2019

Nota Keluaran

Minor update to v4.

5 Okt 2019

Nota Keluaran

Adds directional WAVE-PM rising/falling coloration similar to what's present in my other WAVE-PM scripts. Option can be toggled on or off to use it or the previous behavior/colors.

5 Okt 2019

Nota Keluaran

Minor change to change the default WAVE-PM length to 14, since in practice, that's become mostly how use myself and recommend use of it.

22 Okt 2019

Nota Keluaran

Added an option to use the same gradient color scheme as 3D WAVE-PM.

By default, this is toggled off. Having played around with both a bit, while the gradient does offer more information, my guess is that it's more helpful to more people to have the easier-to-read at a glance solid colors. Still, this seemed like a useful feature to make available because it does offer additional visual information to the indicator.

29 Sep 2020

Nota Keluaran

I'm making a round of updates to my scripts after testing some of the new Pinescript features and looking for ways to address loading issues that have arisen from changes over the past 6 months or so as to what thresholds cause scripts to fail on the back end.