The Commodity Channel Index (CCI) is an indicator used to identify when a currency's price is overbought or oversold compared to its statistical average. It is calculated based on the typical price, simple moving average, and mean deviation over a given period. The CCI provides buy and sell signals when it rises above or falls below thresholds of +100 and -100, with more reliable signals occurring after extended periods above or below those levels. Divergences between the CCI and price can also signal intermediate trend reversals. The document provides an overview of how to calculate and interpret the CCI indicator.