A Markplex subscriber asked for a tutorial about calculating the Commodity Channel Index (CCI) using a TradeStation Price series Provider (PSP).
Tutorial 158 calculates the Commodity Channel Index (CCI) within an indicator, using the same calculation as the CCI function, but used inline in the program for the bars on the chart. A price series provider (PSP) is added to the program using the toolbox. Some initial configuration is done in the properties tab. Further setup for the PSP is done in a once statement: this includes code to load PSP data from the start of the chart, and to set the PSP time zone to be the same as the chart.
The CCI calculation is then ‘converted’ for use with the price series provider. Both the chart data and PSP data CCIs are plotted.
The program has been tested with minute bars.
PSPs and price data are not totally synchronized. This can result in certain price ticks occurring in the following or preceding bar. This, in turn, affects the CCI calculation. In the image on the right the cyan line is the CCI calculated using the chart bar data. The blue line is calculated using PSP data.
The tutorial program contains examples of the use of:
- Price series provider
- Determining if the chart is on exchange or local time
Tutorial 158 video
The unprotected and commented program (i.e. the TradeStation EasyLanguage Indicator):
is available for immediate download for $24.95 by clicking the following ‘add to cart’ button where you may pay with a credit card or by using PayPal.
The program is compatible with versions TradeStation 9.5 and above, including 10. It is not compatible with MultiCharts.
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