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    Commodity Selection Index (CSI)
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      Commodity Selection Index (CSI)

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        Article summary

        Commodity Selection Index (CSI) is a technical momentum indicator that helps select commodities suitable for short-term trading based on their CSI values. The larger the value, the more suitable the commodity is. To calculate the values, the indicator multiplies Average Directional Movement Rating (ADR) and Average True Range (ATR) by a constant that incorporates the Big Point Value (1 full point of price movement represented in dollars), initial margin requirements, and the commission.

        CSI = K x ADXR x ATR
        K = [movevalue/sqrt(margin)] / (150 + commission)

        where:
        ADXR – Average Directional Movement Rating
        ATR – Average True Range
        K – Welles Wilder's coefficient including price movement value (Big Point Value), initital margin requirements, and commission

        Commodity Selection IndexCommodity Selection Index

        INPUTS

        InputDescription
        LengthThe number of periods the indicator uses to calculate the CSI
        BigPointValueThe big point value of a security
        MyMarginInitial margin requirements
        MyCommissionThe commission to be paid
        Average
        The following Moving Average types are available for calculations:
        • Simple. Simple Moving Average (SMA) is applied to CSI.
        • Wilders. Wilders Smoothing is applied to CSI.
        • Weighted. Weighted Moving Average (WMA) is applied to CSI.
        • Exponential. Exponential Moving Average (EMA) is applied to CSI. 

        PLOTS

        The plot renders the data you are working with on the chart. You can show/hide a plot by clicking the corresponding item in the settings. Every plot has a set of basic settings that you can change: color, weight, and type.

        PlotDescription
        CCIThe Commodity Selection Index plot
        Color

        Click the color rectangle under the plot's name to open the palette. Use the slider at the bottom to set the opacity of the color.

        Palette

        To create a custom color:

        1. Clickto open the color picker
        2. By using the slider at the bottom, adjust the main color
        3. Then, set a shade for the main color on the palette

        The custom-created colors are added to your palette. To remove a custom color, drag it out of the palette.

        Weight
        Change the value (in px) to adjust the thickness of the plot.
        Type
        The following plot types are available:
        • Linear. The plot is displayed as a line.
        • Column. The plot is displayed as a histogram.
        • Difference. The plot is displayed as a line which represents the difference between High and Low prices of the bar.
        • Points. The plot is displayed as points.
        • Text above candle. The plot is displayed as the price labels above candles on the chart.
        • Text below candle. The plot is displayed as the price labels below candles on the chart.
        • Triangle above candle. The plot is displayed as triangles above candles on the chart.
        • Color candle. The candles on candle-type charts are highlighted with specified colors.

        OVERLAYING

        Check Overlaying to display the indicator on the chart. Otherwise, the indicator is shown in a study pane down below.

        Note: To reset the settings, click Restore to Default next to the SETTINGS: INDICATOR'S TITLE
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