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CCI Arrows
CCI Arrows MetaTrader indicator
will show you where the CCI cross with the zero occur (marking it with the red
or blue arrow) to help you decide whether to go short or long. It has a minimal
lag and a relatively high accuracy. This simple indicator is a good choice for
those traders that prefer to keep it simple and hate complex indicators. The
indicator is available in MT4 and MT5 versions.
Input parameters:
- CCI_Period (default = 14) the period of the CCI
that is used in this indicator. The higher is the value the more lags this
indicator but less false signals occur.
As you can see, this indicator gives direct signals for buy (blue arrow
pointing up) and sell (red arrow pointing down). You should know that you do NOT
enter the trade if the signal is contradicting the current general trend. If
it's uptrend and you get a blue arrow go long, if you get a red
arrow do nothing (just close your long position if you had one
open); if it's downtrend and you get blue arrow close short position
but don't go long, if you get red arrow go short; if chart goes
sideways and you get blue or red arrow feel free to go long or short
respectively. I recommend setting your stop-loss directly at the level where the
arrow is drawn (it's displayed if you point your mouse at it). I also recommend
using trailing stop with this indicator.
Downloads:
CCI Arrows for MetaTrader 4 in .zip
CCI Arrows for MetaTrader 4 in .mq4
CCI Arrows for MetaTrader 5 in .zip
CCI Arrows for MetaTrader 5 in .mq5
Discussion:
Warning! Before you ask any basic questions regarding installation of
the indicators, please, read this
MetaTrader 4 Indicators Tutorial or MetaTrader 5 Indicators Tutorial
to get the elementary knowledge on handling them.
Do you have any suggestions or questions regarding this indicator? You can
always
discuss CCI Arrows with
the other traders and MQL programmers on the indicators forums.
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