The Double CCI Woody Forex MT4 indicator is a winning trend-following indicator that’s composed of 2 CCI technical indicators.
The default trend CCI period is set to 200 (experiment with this value).
The Double CCI Woody Forex indicator fluctuates above (bullish) and below (bearish) its zero level (0.00).
The indicator delivers good results for any currency pair and time frame.
It can be used as a standalone buy/sell signals indicator or together with other technical tools.
Just load the Double CCI Woody Forex indicator onto the Metatrader 4 chart and start trading with it in minutes.
Key Takeaways
- A bullish trend occurs when the Double CCI Woody indicator trades above the zero level (0.00). The indicator is now colored blue.
- A bearish trend occurs when the Double CCI Woody indicator trades below the zero level (0.00). The indicator is now colored red.
- Has a good win ratio. Does not repaint.
- Works for scalping, avoid swing trading with this indicator.
Feel free to explore the Double CCI Woody Forex indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “double-cci-woody.ex4” Metatrader 4 indicator
Indicator Example Chart (EUR/USD H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Double CCI Woody MT4 Forex Indicator
Buy Signal: Execute a buy order when the Double CCI Woody colored bars change back to blue from red. The trend is now upward.
Set your stop loss below the previous swing low level, or use your own favorite stop loss method.
Take your profit when the blue colored bars turn back to red (sell signal), or use your own favorite take profit method.
Alternatively, exit the buy trade for a reward/risk ratio of 2.0 or better.
Sell Signal: Execute a sell order when the Double CCI Woody colored bars change back to red from blue. The trend is now downward.
Set your stop loss above the previous swing high level, or use your own favorite stop loss method.
Take your profit when the red colored bars turn back to blue (buy signal), or use your own favorite take profit method.
Alternatively, exit the sell trade for a reward/risk ratio of 2.0 or better.
Download This Forex Indicator Now
Download the “double-cci-woody.ex4” MT4 indicator
Adjustable Parameters
Trend CCI, entry CCI, trend period, count bars, zero cross alert, colors, width, style.
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.