The CCI Woodies MT4 indicator is a good crossover forex system that’s based on two CCI signal lines that cross each other.
It works similar to the popular moving average crossover systems.
Buy and sell signals are very easy to follow and works well for any trade style.
Key Takeaways
- Buy the pair when the shorter-term CCI crosses back above the longer-term CCI from below.
- Sell the pair when the shorter-term CCI crosses back below the longer-term CCI from above.
- Works for any trade style (scalping, day trading, swing trading).
Learn below how to open buy and sell trades with the CCI Woodies Forex MT4 Indicator.
Free Download
Download the “CCI_Woodies.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 Woodies 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 blue shorter-term CCI signal line crosses above the red longer-term CCI signal line from below.
Place stop loss 3 pips below short-term support, or use your own favorite SL method.
Exit buy trade when a sell trigger signal gets printed 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 M5 chart.
Sell Trigger: Open a sell trade when the blue shorter-term CCI signal line crosses below the red longer-term CCI signal line from above.
Place stop loss 3 pips above short-term resistance, or use your own favorite SL method.
Exit sell trade when a buy trigger signal gets printed on the chart, or use your own favorite take profit method.
Alternatively, close the sell trade for a fixed take profit, for instance, +40 pips on the M30 chart.
Download This Forex Indicator
Download the “CCI_Woodies.ex4” MT4 indicator
Adjustable Parameters & Settings
CCI period 1, CCI period 2, colors, width, style.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
Usage
The CCI Woodies indicator can be deployed as a standalone trading system or strategy.
It can also be combined with trend indicators (DMI, Bollinger Bands,..), oscillators (RSI, MACD,..) and price action.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: signal
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
