CCI Signals MT4 Indicator is an updated version of much popular Forex indicator named Commodity Channel Index. It signals possible swing levels thus, potential area of trend changes. Previously, reading CCI was bit tougher and quite challenging for newbie swing traders. For this reason, developers has upgraded it in such a simple way that everybody will understand now what CCI Signals want to say about the market.
CCI Signals has specially been designed for scalping purposes thus, it best fits with lower timeframes like M5 or M15 charts but there is one great freedom that every user of CCI Signals can enjoy. That is, you’ll be able to use it to analyze any Forex currency pair available at the market.
CCI Signals Overview
Once you are done with the installation of CCI Signals at your Forex MT4 terminal, your trading chart will be appeared as the following image:
CCI Signals focuses on simple deviations from as asset’s moving average price to spot possible divergences from regular trend cycles. Whenever it spots the potential swing area, it plots the signal with the up/downward arrows to confirm the respective swing area. We recommend traders to look for upward arrow/buy signals from the low and downward/sell signals from the high for a better trading outcome. You can even add it with your current swing trading strategy/setups to use it as a better trading filter.
CCI Based System: CCI Channel Trading Strategy
CCI Signals: Buy Parameters
- Price bar closes as a bullish candle at the current market low
- CCI Signals plot upward arrow below the respective bullish candle
- Buy triggers at the break of the signaling bar’s high
- Set stop loss below the signaling arrow
- Exit long/take profit whenever a downward arrow is plotted
CCI Signals: Sell Parameters
- Price bar closes as a bearish candle at the current market high
- CCI Signals plot downward arrow above the respective bearish candle
- Sell triggers at the break of the signaling bar’s low
- Set stop loss above the signaling arrow
- Exit short/take profit whenever an upward arrow is plotted