The indicator is based on the simple CCI.
When its value crosses 100 from above, it sends a signal to sell.
When its value crosses -100 from below, it sends a signal to buy.
Everything is simple.
It gives a good signals, of course there are some wrong, you can add some filter to filter them.
Also you can open order for the each signal, with SL at 2-3 points higher/lower of the maximal/minimal price of the 2-3 previous candlesticks.
Take Profit value can be set using your vision and greed 🙂
MT4 Indicator Download – Instructions
[post-title] is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
[post-title] provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install [post-title].mq4?
- Download [post-title].mq4
- Copy [post-title].mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on [post-title].mq4
- Attach to a chart
- Modify settings or press ok
- Indicator [post-title].mq4 is available on your Chart
How to remove [post-title].mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
MT4 Indicators Download below: