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The original version of Stochastic or CCI oscillators could be a good indicator for telling when the price is oversold/overbought but very often the signals are wrong. This issue has been solved by combining those two indicators together and adding some filters for excluding wrong signals.
Are you looking for a place where the price will bounce and a place where the trend might reverse or maybe just want to know what is the current state of the trend? This indicator is just for you.