Double CCI Woodies Foreign exchange MT4 Indicator
The Double CCI Woodies foreign exchange indicator for MetaTrader4 is constructed on two CCI. Understanding that the CCI as a momentum indicator is vital in understanding the DoubleCCI_Woodies indicator.
The CCI indicator in its unique design is tailor-made to help merchants spot when a market is overbought or oversold, and it anticipated to see a directional reversal and retracement.
The Double CCI Woodies indicator is especially frequent with futures dealer, however does additionally work effectively on the foreign exchange market.
The parameter settings on the DoubleCCI_Woodies indicator permits for the tweaking of colours, CCIs interval and you too can add alerts. The chart has a gray and blue CCI.
We even have histograms in shahs of inexperienced, purple, gold and black. The inexperienced shade denotes a bullish development, whereas the purple shade denotes a bearish development. The default setting for the DoubleCCI_Woodies indicator are 14, 6 intervals.
If the blue CCI breaks above the zero-line it signifies a bullish sign, whereas if the blue CCI line breaks beneath the zero-line it is a sign that worth is bearish. So as to have the ability to filter the alerts, then you will need to look ahead to the blue CCI to cross above the zero-line when the histogram is inexperienced (bullish alert), and also you also needs to look ahead to the blue CCI line to cross beneath the zero-line when the histogram is purple (bearish sign).
One other essential level worthy of observe is the acute ranges of 200 and -200 on the DoubleCCI_Woodies indicator – these areas are normally not good to open positions as they have an inclination to sign the tip of the traits.
MT4 Indicator Traits
Foreign money pairs: Any
Platform: Metatrader 4
Sort: chart window indicator
Customization choices: Variable (TrendCCI_Period, EntryCCI_Period, Zero_Cross_Alert, Automatic_Timeframe_Setting, M1_TrendCCI_Period, M1_EntryCCI_Period, M5_TrendCCI_Period, M5_EntryCCI_Period, M15_TrendCCI_Period, M15_EntryCCI_Period, M30_TrendCCI_Period, M30_EntryCCI_Period, H1_TrendCCI_Period, H1_EntryCCI_Period, H4_TrendCCI_Period, H4_EntryCCI_Period, D1_TrendCCI_Period, D1_EntryCCI_Period, W1_TrendCCI_Period, W1_EntryCCI_Period, MN_TrendCCI_Period, MN_EntryCCI_Period), Colours, width & Type.
Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
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