Osi Cycle-Adaptive CCI
This indicator is based on the calculation for CCI, but the calculation period used, on each bar, is a fixed, user-selectable, factor of the period of the dominant wave as measured on that bar: quarter-wave, half-wave or full-wave.
The user may also elect to use a fixed period, in which case it is no different from the standard CCI.
Typical Usage Scenarios
This indicator is used in the same manner as the CCI. The real advantage is that the period of calculation is adjusted, depending on the market's dominant cycle. An internet search will show the many ways in which the CCI is used, whether as an overbought/oversold oscillator, or as a divergence trading tool.
The chart is shown using the full period, and shows some of the different ways in which different traders use the indicator. The first green arrows from the left indicate entries for more aggressive traders who would go long when the Plot crosses above -100, essentially using the Osi_CACCI as an oversold/overbought oscillator; more conservative traders tend to use the Osi_CACCI as a trend indicator, and would go long on the second set of green arrows when the Plot crossed above +100. There are also traders who simply use the Osi_CACCI for spotting divergences. 2 such divergences are marked on the chart by the sets of corresponding blue lines.
Needless to say, the Osi_CACCI indicator reacts much faster (and hence is more noisy), when using the half wave or quarter wave.
See how the calculation period has rather lengthened as we got into a trend.
The calculation period, and the method (in this case, "Cycle"), are indicated by the information panel at the bottom. The parameter choice is part of the chart label in the upper text; in this case "FullWave".
NB: Note that the arrows were not drawn by the indicator: they were manually drawn to indicate a usage scenario.