FOREX CCI Arrows MetaTrader Indicator
indicator CCI Arrows
CCI Arrows (Arrows CCI) MetaTrader Indicator - will show you where the standard was crossing the CCI indicator to zero (marking the place of red or blue arrow) to help you decide direction in which the open position - up or down. It has a minimal delay and relatively high accuracy. This simple indicator - a good choice for traders who prefer to trade as easy as possible and do not like complex indicators. The indicator can be downloaded in a version for MT4 and MT5.
- CCI_Period (default = 14) - standard indicator between CCI, which is used here. The higher the number, the greater the delay indicator and the fewer false alarms occur.
As you can see, this indicator gives a direct signal to buy (blue arrow pointing up) and sell (red arrow pointing down).
Do not enter the position when the signal is contrary to the general trend. If you are bullish trend and you've got the blue arrow - buy if you get the red - do not sell, but close a long position, if the bearish trend right now and you got the red arrow - sell if you get the blue - do not buy, but close the short position, if now no trend - open positions in any direction, depending on direction.
I recommend setting your stop-loss level, where the arrow is drawn (you can find out its exact numerical value by moving the mouse pointer). I also recommend using a trailing stop (trailing stop) for positions that are open with the help of the indicator.CCIarrow.mq4