The CCI Custom Candles MT4 indicator is a great buy/sell Forex indicator based on price action candlesticks.
It does not repaint and free of any price lag.
The rules to buy and sell with this indicator are easy to understand, even for beginner traders.
It works best for scalping and day trading any currency pair.
Key Takeaways
- A green custom candles bar represents a buy trade opportunity.
- A red custom candles bar represents a sell trade opportunity.
- Use on any time frame and pair.
Learn below how to open buy and sell trades with the CCI Custom Candles Forex MT4 Indicator.
Free Download
Download the “cci-custom-candles-indicator.ex4” Metatrader 4 indicator
Indicator Example Chart
Here’s an example (EUR/USD M15 chart) of how the indicator should look like when loaded onto the Metatrader 4 chart.
Attach the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Signals With The CCI Custom Candles Forex Indicator For MT4.
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open a buy trade when the CCI Custom Candles indicator for MT4 paints a green candle on the chart.
Set stop loss 1-3 pips below support, or use your own favorite SL method.
Exit long trade when the indicator draws the first red custom candle on the chart, or use your own favorite take profit method.
Alternatively, close the buy trade for a fixed take profit, for instance, +25 pips on the M15 intraday chart.
Sell Trigger: Open a sell trade when the CCI Custom Candles indicator for MT4 paints a red candle on the chart.
Set stop loss 1-3 pips above resistance, or use your own favorite SL method.
Close short trade when the indicator draws the first green custom candle on the chart, or use your own favorite take profit method.
Alternatively, close the buy trade for a fixed TP, for instance, +12 pips on the M1 scalper chart.
Download This Forex Indicator
Download the “cci-custom-candles-indicator.ex4” MT4 indicator
Adjustable Parameters & Settings
CCI period, CCI price, overbought, oversold, color, width, style.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
Usage
The indicator can be deployed as a standalone trading system or strategy.
It can also be combined with trend indicators (moving averages, Bollinger Bands,..), technical oscillators (RSI, MACD,..) and price action strategies.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: trend
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
