Program 47 | CCI ghost strategy

Program 47 applied to a 3 minute @YM chart. In this example the SimpleTrade input is set to 1.

Program 47 applied to a 3 minute @YM chart. In this example the SimpleTrade input is set to 1. To see a larger version of this image, click on it.

Some view ghost patterns as a sign of a potential reversal. Program 47 (based on program 44)  is designed to look for ‘ghost’ patterns in the Commodity Channel Index  (CCI) and make trades based on either:

  1. A confirmed ghost or inverted ghost pattern
  2. A break of the ‘trend line’ drawn across the ‘shoulders’ of the ghost or inverted ghost pattern

Each time a new CCI pivot is found the value and the bar number of the pivot are stored in one of 2 arrays, a low pivot array and a high pivot array. Each time a new pivot is found it is compared with previously found pivots to see if a ghost or inverted ghost pattern has occurred.

The program is available for download. The download includes program 47 (unprotected), the original program 44 (unprotected), the _MarkplexCCI function (protected),  a bonus video that explains some of the changes I made to program 44 to ‘convert’ it into a strategy, and the workspace used in the demonstration videos (in zip format)

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The programs are also available for MultiCharts users. The download includes program 47 (unprotected), the original program 44 (unprotected), and the _MarkplexCCI function (read only).  I also included  a bonus video that explains some of the changes I made to TradeStation program 44 to ‘convert’ it into a TradeStation strategy, and a MultiCharts workspace.

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Program 47 defines a bearish ‘ghost’ pattern as one where there are 3 high pivots and the middle pivot is higher then the ones on either side. A bullish ghost pattern is one with 3 low pivots and the middle pivot is lower than the ones on either side.

The program is user configurable and the user may look for ghost patterns on regular CCI, Fast CCI, Markplex smoothed CCI or Markplex fast smoothed CCI. The user may select the CCI using the WhichCCI user input. A setting of 1 is for regular CCI, 2 is for fast CCI, 3 is for Markplex smoothed CCI and 4 is for Markplex smoothed fast CCI. The Markplex CCIs are calculated using a source protected function that is included with this program download. Program 47 itself is unprotected.

The CCI itself is configured by the following inputs: CCILength, FastLength, SmoothLength and FastSmoothLength.

The CCI pivots are configured using LeftStrength and RightStrength. So, for example is LeftStrength were set 3 and RightStrength to 2, for high CCI pivot there would have to be 3 bars to the left of the pivot where the CCI value was less than the pivot CCI value and 2 bars to the right of the pivot where the CCI value was less than the pivot CCI value.

Program 47 applied to 3 minute @YM displaying the trailing stop.

Program 47 applied to 3 minute @YM displaying the trailing stop.

Trade management uses the following inputs:  Cts (the total number of contracts or shares traded), TrailVal (Trail value expressed as a multiple of ticks), Tgt1 (Target 1 from entry price expressed as a multiple of ticks. FirstTgtCts contracts or shares are exited here), Tgt2 (Target 2 from entry price expressed as a multiple of ticks. The remainder of contracts or shares are exited here), FirstTgtCts (The number of contracts or shares to exit at the first target)CCIHighFilter (Only enter short trades if the CCI chosen is greater than this value), CCILowFilter (Only enter long trades if the CCI chosen is less than this value), and ShowTrl (Determines if line drawn at trailing stop).

In the video example below I demonstrate a workspace where program 47 is applied to data1 at the top of the workspace. program 44 is applied to data2 at the bottom of the workspace. If you use a setup such as this, make sure that the same inputs are used for both the strategy and the indicator.

The program is available for download. The download includes program 47 (unprotected), the original program 44 (unprotected), the _MarkplexCCI function (protected),  a bonus video that explains some of the changes I made to program 44 to ‘convert’ it into a strategy, and the workspace used in the demonstration videos (in zip format)

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The programs are also available for MultiCharts users. The download includes program 47 (unprotected), the original program 44 (unprotected), and the _MarkplexCCI function (read only).  I also included  a bonus video that explains some of the changes I made to TradeStation program 44 to ‘convert’ it into a TradeStation strategy, and a MultiCharts workspace.

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As usual, Gold Pass members get an additional 20% discount off all program and tutorial prices. If you are a Gold Pass member make sure you enter the special coupon code to get 20% discount off these prices. You can find the coupon code on the Gold Pass page.

Inputs

SimpleTrade( 1 ), // 1 = Make trade if ghost pattern forms, 2 = Look for ghost pattern and ghost trend break
WhichCCI( 3 ), // 1 = Regular, 2 = Fast, 3 = Smoothed, 4 = Smoothed fast
CCILength( 14 ), // CCI length
FastLength( 6 ), // Length of ‘fast’ CCI
SmoothLength( 14 ), // Factor used to smooth CCI
FastSmoothLength( 14 ), // Factor used to smooth fast CCI
LeftStrength( 3 ), // Left strength of pivots
RightStrength( 1 ), // Right strength of pivots

Cts( 10 ), // the total number of contracts or shares traded
TrailVal( 50 ), // Trail value expressed as a multiple of ticks
Tgt1( 100 ), // Target 1 from entry price expressed as a multiple of ticks. FirstTgtCts contracts or shares are exited here
Tgt2( 50 ), // Target 2 from entry price expressed as a multiple of ticks. The remainder of contracts or shares are exited here
FirstTgtCts( 10 ), // The number of contracts or shares to exit at the first target
CCIHighFilter( 150 ), // Only enter short trades if the CCI chosen is greater than this value
CCILowFilter( -150 ), // Only enter long trades if the CCI chosen is less than this value

ShowTrl( False ); // Determines if line drawn at trailing stop

The program is available for download. The download includes program 47 (unprotected), the original program 44 (unprotected), the _MarkplexCCI function (protected),  a bonus video that explains some of the changes I made to program 44 to ‘convert’ it into a strategy, and the workspace used in the demonstration videos (in zip format)

.

The programs are also available for MultiCharts users. The download includes program 47 (unprotected), the original program 44 (unprotected), and the _MarkplexCCI function (read only).  I also included  a bonus video that explains some of the changes I made to TradeStation program 44 to ‘convert’ it into a TradeStation strategy, and a MultiCharts workspace.

.

As usual, Gold Pass members get an additional 20% discount off all program and tutorial prices. If you are a Gold Pass member make sure you enter the special coupon code to get 20% discount off these prices.

Video of program 47

The program is available for download. The download includes program 47 (unprotected), the original program 44 (unprotected), the _MarkplexCCI function (protected),  a bonus video that explains some of the changes I made to program 44 to ‘convert’ it into a strategy, and the workspace used in the demonstration videos (in zip format)

.

The programs are also available for MultiCharts users. The download includes program 47 (unprotected), the original program 44 (unprotected), and the _MarkplexCCI function (read only).  I also included  a bonus video that explains some of the changes I made to TradeStation program 44 to ‘convert’ it into a TradeStation strategy, and a MultiCharts workspace.

.

As usual, Gold Pass members get an additional 20% discount off all program and tutorial prices. If you are a Gold Pass member make sure you enter the special coupon code to get 20% discount off these prices.

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