CCI with PRSI MT4 is an amazing indicator used for filtering the momentum of the market. Along with the momentum of the market CCI with PRSI MT4 indicator is also concerned with identifying the trend of the market as soon as it begins and lets you exit as soon as the reversal occurs.
CCI with PRSI indicator will do very good when you combine these indicators with trend indicators like moving average, parabolic SAR, etc. However, do not to forget that CCI with PRSI is self-sufficient in itself too. I just meant that you can use trend indicators on the main chart if you feel little uncomfortable with the signals.
This forex trading system looks simple and clean. If you have been wondering what it looks like on your chart, please have a look below.
CCI with PRSI MT4 Overview
|Time Frame||Currency Pairs||Number of Indicators||Ratings|
|M15 to Daily||Any||2||9.7/10|
CCI with PRSI MT4 Indicators
- CCI with PRSI
This indicator is the indicator that you see on the 1st indicator window. It is a combination of an oscillator and a histogram. These two indicators tell a lot about the market momentum and the trend. When the blue oscillator is positive, it’s a bullish market and vice versa. When you see histogram in the positive territory, you should understand that the bulls are dominating the market and vice versa.
- Joker Filter
The Joker Filter indicator is here to filter the signals generated by CCI with PRSI indicator. The filter indicator works in a very simple mechanism. When you see green bars, it is a signal that market has been rising and it is likely to keep rising in future and when you see red bars, it’s the opposite.
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CCI with PRSI System: Buy Parameters
- Market should be rising.
- The blue oscillator of CCI with PRSI indicator should be in positive territory.
- The histogram of CCI with PRSI indicator should be in positive territory.
- The Joker Filter indicator should form green bars.
- Execute your buy position when above parameters are met.
- Book your profit when you see Joker Filter indicator turning red.
CCI with PRSI System: Sell Parameters
- Market should be falling.
- The blue oscillator of CCI with PRSI indicator should be in negative territory.
- The histogram of CCI with PRSI indicator should be in negative territory.
- The Joker Filter indicator should form red bars.
- Execute your sell position when above parameters are met.
- Book your profit when you see Joker Filter indicator turning green.