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.
# 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);