What is cci indicator
At this page you can download MT4 Forex indicator
that can be attached to the MetaTrader Forex trading platform
to boost your Forex trading performance.
100% Free - 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.
(source: available for free on some free Forex websites)
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.
It's recommended setting your stop-loss directly at the level where the arrow is drawn (it's displayed if you point your mouse at it).
Also recommended using trailing stop with this indicator.
Please,UnZip downloaded zipped file with WinZip or 7ZIP software.
You can download and use 7ZIP software for free
There is CCI Arrows indicator inside.
To install downloaded CCI Arrows indicator use the following steps :
Step By Step installation for MT4 build 600 and later
1) Open your MT4 platform
2) Click File — Open Data Folder
Here you will find a folder called MQL4, this is the new “home” for all your .ex4 or .mq4 files you have
6) Under the "Common" tab, look into the "Indicators" directorySource: www.larslarsson.com