The SwamiCCI is an indicator
based on the classic Commodity Channel Index (CCI) oscillator originally
introduced by Donald Lambert. An overbought (bearish) condition is shown in red and an oversold
(bullish) condition is shown in green. A yellow color indicates an intermediate
SwamiCharts CCI gives a larger overview by using channel lengths that vary from 12 to 48 bars in the vertical scale and
by displaying the position relative to the channel using colors. Green represents a position in the upper part of the channel
and red represents a position in the lower part of the channel, with yellow being an intermediate position.
In the example for BAC above, the middle chart (red-yellow-green) is SwamiCCI and the bottom chart (blue)
is the classic CCI indicator. The classic CCI shows the indicator values
at a single lookback period only - in this case, 14 bars. SwamiCCI is easier to
interpret and provides additional info for pattern continuation due to its
rendering at the longer lookback periods.