This is the CCT Keltner indicator for MultiCharts, converted from NinjaTrader.
Instead of just plotting the oscillating CCT Ketlner, the indicator also highlights divergences where red is a confirmed negative divergence, green a confirmed positive divergence, and orange a potential divergence.
Overextended CCT Keltner values often signal the end of a trend, but since the CCT Keltner isn't restricted to a range of 0 to 100 (like the RSI and Stochastics), you'll need to add other indicators or price action to determine how 'overextended' overextended is.
This indicator includes the CCTKeltner function for easy use in backtesting.
Category MultiCharts
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