I have used this indicator to find many lucrative opportunities. This indicator takes the moving average of CCI in custom, volatility-specific conditions. CCI measures "overbought" in the red-shaded region and "Oversold" in the green-shaded region. The shaded regions do not constitute a buy/sell signal alone, the MS CCI Squeeze is best used when market conditions agree and is best used when the user has fundamental reasoning for "reversal-like" situations to align.
thinkScript Code
Code:
# MS MONEY CCI SQUEEZE
# Assembled by BenTen at useThinkScript.com
# Converted from https://www.tradingview.com/script/SnjJtj5q-MS-MONEY-CCI-SQUEEZE/
declare lower;
input length1 = 14;
input ma_length = 13;
input src = close;
def ma1 = simpleMovingAvg(src, length1);
def cci1 = (src - ma1) / (0.015 * StDev(src, length1));
plot line1 = cci1;
#def line_unknown = expAverage(cci1, ma_length);
#plot line_un = line_unknown;
line1.AssignValueColor(if (cci1 > expAverage(cci1, ma_length)) then color.green else color.white);
plot ZeroLine = 0;
plot Onehun = 100;
plot negOnehun = -100;
plot twohun = 200;
plot negTwohun = -200;
ZeroLine.AssignValueColor(color.MAGENTA);
addcloud(onehun, twohun, color.red, color.red);
addcloud(negonehun, negtwohun, color.green, color.green);