What is the Commodity Channel Index CCI? How to use the CCI indicator?

Commodity Channel Index, or CCI in English, is a technical analysis indicator that determines whether the market is in an overbought or oversold stage by measuring price changes relative to its statistical average. Generally speaking, a CCI above +100 usually indicates overbought, while a CCI below -100 indicates oversold. Source: IBRK The Commodity Channel Index was proposed by Donald Lambert in 1980. He created this indicator primarily to identify cyclical changes in cyclical commodity prices, but later discovered that the CCI was also suitable for technical analysis of stocks and other types of markets.