The Double CCI Woody Forex Scalper Oscillator indicator for Metatrader 4 is an excellent scalper that can bring good profit on a daily basis.
Some scalpers report over 75% winning trades.
The indicator provides you with multiple profitable entry points in an existing up or down trend.
It consists of a colored histogram that oscillates above and below the zero level.
It’s recommended to trade with it during the London and US session for best performance.
It can be traded as a standalone scalping indicator or used together with other technical indicators.
Just load the Double CCI Woody Scalper Oscillator indicator onto the Metatrader 4 chart and start trading with it in minutes.
- A bullish scalper trend occurs when the indicator trades above the zero level (green bars).
- A bearish scalper trend occurs when the indicator trades below the zero level (red bars).
- Use on the low spread currency pairs, for instance, EUR/USD, USD/JPY, GBP/USD,…
- Works best for scalping purposes.
Feel free to explore the Double CCI Woody Oscillator Scalper Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Example Chart (EUR/USD M15 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 Scalper Oscillator MT4 Forex Indicator
Buy Signal: Open a buy scalper trade when the Double Woody Forex Scalper indicator bars turn back to green color. The short-term trend is now upward (see chart example).
Set your stop loss below immediate support, or use your own favorite stop loss method.
Close the buy trade for 10-20 pips profit, or use your own favorite take profit method.
Sell Signal: Open a sell scalper trade when the Double Woody Forex Scalper indicator bars turn back to red color. The short-term trend is now downward (see chart example).
Set your stop loss above immediate resistance, or use your own favorite stop loss method.
Close the sell trade for 10-20 pips profit, or use your own favorite take profit method.
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Trend CCI, entry CCI period, 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: scalping
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.