Free Indicator with BUY/SELL
CCI Arrows ( source: free from the web)
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