SuperWoodieCCI2 is one of the simplest trend-oscillator you may have ever experienced. It uses its color signals along with histogram bars for demonstrating the ins and outs of the market trends. This indicator only uses its own oscillator window and leaves the main chart alone so that you can add other trend-following tools to the indicator to enrich your performance.
SuperWoodieCCI2 is quite flexible as an indicator because it allows you to trade any forex currency pair you like. Furthermore, it suits all sorts of timeframe charts and supports both scalping and day trading activities.
Download and install the indicator on your MT4 platform. Once you’re done, find your trading chart like the image below:
SuperWoodieCCI2 Indicator Explanation
SuperWoodieCCI2 applies a 50-period CCI along with TCCI to come up with a trend signal demonstration that makes sense. The indicator is less frequent in generating the trade signals but stresses more on signal qualities.
According to its basic concept, its value turns positive when the trend is bullish and turns negative to confirm the market trend as bearish. The bars turn green and red to show which side (buyer or seller) is in control.
However, bars in blue color represent a corrective or sidelined market implying a neutral trend situation of the market. You can also add moving averages of your preferred parameters to use as a signal filter for greater accuracy in trading.
SuperWoodieCCI2: Buy Conditions
- SuperWoodieCCI2 value turns positive
- The indicator bars turn into a green color
- Buy triggers after the above conditions are done
- Set stop loss below the current swing low of the market
- Exit long/take profit whenever the indicator value turns negative
Also Read: RoboForex Review – Get $30 Welcome Bonus
SuperWoodieCCI2: Sell Conditions
- SuperWoodieCCI2 value turns negative
- The indicator bars turn into a red color
- Sell triggers after the above conditions are done
- Set stop loss above the current swing high of the market
- Exit short/take profit whenever the indicator value turns positive