I hope that you find it to be a useful addition in your trading toolbox. You can read more on this indicator and download it at your convenience.
Metatrader Indicator - CCI Arrows
One of the most powerful indicators which come together in the Metatrader(MT4) trading platform is without doubt the CCI indicator. The CCI indicator can indicate the trend direction with quite a high rate of accuracy. The popular setting used for the CCI indicator is 14 and the level which the traders normally watch is the Zero(0) line. Once the CCI crossed the 0 line from below, it means that we might have a buy situation and if the cross is in the opposite direction, it would mean a sell situation. However, you will need to plot the CCI indicator on your chart and hunt(wait) for this cross to happen and try to catch it with your own eyes. However, with this little indicator... You are saved from this pain... You do not even need to plot the CCI on the chart... Just put the CCI Arrows indicator on your chart and each time the CCI crosses the Zero line... It will draw an arrow depending on the direction of the cross.. A red arrow should mean a chance to sell and a Blue arrow should mean a chance to buy... However, the indicator should be used with a trading system and not stand alone.
Subscribe to:
Post Comments (Atom)
Very efficiently written information. It will be beneficial to anybody who utilizes it, including me. Keep up the good work. For sure i will check out more posts. This site seems to get a good amount of visitors. Forex indicator
ReplyDelete