Tutorial 5 | Create a modified CCI indicator, including fast, slow and zero lines

This tutorial takes the standard Commodity Channel Indicator (CCI) provided by TradeStation and modifies it to include fast and slow CCIs together with a zero line. We also add a histogram under the slow CCI. In future tutorials I will show you how to create indicators based on the CCI, such as ‘zero rejections’ etc

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The standard CCI indicator provided by TradeStation will produce a plot similar to the following when added to a chart:

Tutorial 5 image

This tutorial will add an additional CCI plot with a different period, together with a zero line.

Step 1

Create a new EasyLanguage document (to do this, open your copy of TradeStation and click File – New – Window on the top menu bar. Then select the EasyLanguage tab and double click on Indicator. Give the new indicator a name – I suggest that you prefix this name with the “_” character so that you will be able to distinguish your indicator from TradeStation’s built-in indicators).

Type in the following program:

Tutorial 5 image

The program uses 2 inputs. SlowLength is used as the parameter for the normal CCI plot. FastLength is used as the parameter for the faster CCI plot.

The indicator includes 4 plots. Plot 1 is the CCI with the length entered as slow length. Plot 2 is the CCI using the fast length parameter. Plot 3 is similar to Plot 1; I will explain why I have repeated this later in the tutorial. Plot 4 is the zero line.

Step 2

Open a new chart and insert the indicator you have just created into the chart (Insert-Indicator). The indicator should appear something like the following screen-shot:

Tutorial 5 image

Notice that that plots 1-3 are all appearing in red and are difficult to distinguish from each other. We will rectify this in Step 3.

Step 3

Modify the color of Plot 1 and Plot 3 to a new color. I have used Cyan.

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Step 4

Having made the chance, the plot should now appear as follows:

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Notice that Plot 1 and Plot 3 are indistinguishable. To make Plot 3 appear as a histogram type plot, we need to take an additional step.

Step 5

Double click on the indicator appearing on the chart. The format indicator box should appear as follows:

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Click on the Style tab. Select the plot labeled ‘CCI’. This corresponds to Plot 3

Step 6

Click the Histogram option.

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and the plot should now appear as follows:

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Step 7

In order to ensure that this change is applied whenever the indicator is used, click the default button. The confirmation window will appear as shown in the screen shot. Confirm this by clicking the ‘yes’ button.

Whenever you use this indicator in the future, you should see the same plots as illustrated in Step 6.

Tutorial 5 image

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