Free Forex Indicators (MT4), Trend Following Indicators

SuperWoodieCCI2 Indicator

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.

SuperWoodieCCI2 Overview

Download and install the indicator on your MT4 platform. Once you’re done, find your trading chart like the image below:

SuperWoodieCCI2 Overview

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.

SuperWoodieCCI2 Overview

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 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 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

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I have been actively trading stocks and currencies since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund which has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.

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About Trend Following System

Trend Following System's goal is to share as many Forex trading systems, strategies as possible to the retail traders so that you can make real money.

Risk Warning: Trading in the forex market is very risky. Thus, it is may not be for everyone. A highly leveraged position can work against the trader when the trade does not work as expected. Trading in the forex market can cause to lose a significant portion of the capital or all of the capital. It is crucial to learn about the trading and gain enough experience in the demo account before trading with real money. The trading strategies published on this website do not guarantee profit as the market is dynamic and unpredictable. The past performance of a strategy is not the indicative of future performance. Trend Following System will not accept any kind of liability or damage caused by trading the strategies published on this website.