Chartists need to consider how to implement stop-losses, when to take profits and how to tailor the strategy to their own goals and trading style. “Also, note that the CCI correction strategy is not meant as a stand-alone system. When developing a Strategy/System, some of the most difficult considerations that will affect profitability are when to take profits and when to cut losers! Included is the below comment from the Strategy page… (This is essentially the “trade trigger”.) CCI cross over of the zero line on the Daily chart) will be the trigger signal to enter. A surge back into positive territory (i.e. Look for a reversal of this countertrend movement. 100 CCI reading on the Daily chart reflects a pullback within the bigger uptrend.ģ. Use the daily chart to time oversold pullbacks when weekly chart dictates a bullish bias. Note: we did decide to use timeframe functions).Ģ. (Easier since don’t have to use timeframe functions in AmiBroker. Note: Can also use longer time frame CCI on the daily chart instead of the weekly CCI, for example, use a 100 period CCI on the daily instead of a 20 period CCI on the weekly for trending bias. CCI weekly surge below -100 denotes a Downtrend or bearish bias. Define the bigger trend and trading bias.CCI surge above +100 on the weekly chart denotes an Uptrend or bullish bias, which remains until surges below -100. the trade trigger) that represents an entry opportunity.ġ. Uses a Daily CCI to dictate a short-term pullback against the predominant trend (i.e.When it plunges below -100 it gives a short trend bias, key levels noted by Lambert. When it surges above +100 it gives a long trend bias. Uses a Weekly CCI to dictate the trading (trend) bias.The CCI Correction Strategy is based on the Commodity Channel Index (CCI) indicator developed by Donald Lambert, which is a momentum oscillator that can be used to identify a new trend or warn of extreme conditions. This will be a good Case Study to use! The direct link to the Strategy is. That’s what we’ll do here today.ĭoug sent me an idea that is close to one of his strategy interests, called the CCI Correction Strategy from. Doug wants to learn how to use AmiBroker for these trading ideas.ĭoug isn’t unique, many traders get to this stage (as did I several years ago) and need some guidance in getting started. This will allow him to verify and quantify some trading ideas – also, to get some data on how well some of the indicators he uses, work. He’s now ready to take the next step and venture into Quantitative Technical Analysis. He’s a Technical Analyst and has been using various TA indicators over the years.
I've also provided links (below) to download the important files discussed in the presentation that you can use for your own starting Strategy templates and related files.Ī) Provide a decent starting strategy template for those that want to develop strategies in AmiBroker.ī) Review the Strategy Rules and Backtest Results of the CCI Correction Strategy from .Ĭ) Provide a clear path and integration case study showing how to semi and fully automate strategies using the software tools AmiBroker + Alera Portfolio Manager (APM) - ĭoug D is a long-time friend that I met in the Technical Analysis community through the years ago. However, I'd like to highlight some of the key slides, data and points below from the slides, for reference. If you are interested in the first session on " A Super Easy Way to Work With Dates for Monthly Rotation Strategies in AmiBroker", you can link to that here. This presentation was actually two (2) Sessions. I can't write a blog post explaining the ENTIRE process, so instead I suggest that you watch the presentation below for more context and refer to the slide deck starting at slide 19. You can find the recording below at the end of this post, starting at 36:08 in the video.
I recently did a presentation on AmiBroker Strategy Development and AutoTrading.