Dual CCI Swing Strat

This script utilizes the CCI on two time frames (5 and 50) to alert to potential reversals. It can be triggered at the end of a pullback during a prevailing trend. It can also be triggered during overbought/sold conditions. The trend based alerts are more reliable but smaller. The overbought/sold conditions require more scrutiny (I use the direction of CCI(50) trend) but tend to be larger moves.

Overbought/sold alerts are most reliable when they are supported by a few periods of corresponding trend in the CCI(50). An example would be the CCI(50) trending up over the last 3 days but still below -100 at the time of a CCI(5) trigger. I generally would not recommend trading based on an overbought/sold alert if the CCI(50) is trending against the move the CCI(5) is predicting.



The indicator pushes alerts (vertical lines) depending on conditions:

The 50 CCI acts as a gating condition:

Bullish alerts are allowed when the CCI(50) is either > 0 or < -100.
Bearish alerts are allowed when the CCI(50) is either < 0 or > 100.

The 5 CCI acts as the trigger:

Bullish alert triggers when the CCI(5) crosses -100 moving UP.
Bearish alert triggers when the CCI(5) crosses 100 moving DOWN.