CCI Arrows signal indicator: high accuracy with minimal delay
CCI Arrows trading indicator for the MetaTrader 5 terminal will show you where the crossing of the standard CCI indicator with zero (by marking it with a red or blue arrow) to help you decide which way to open the position - down or up. It has minimal latency and relatively high accuracy. This simple indicator is a good choice for traders who prefer to trade as simply as possible and do not like complicated indicators.
Input parameters: CCI_Period (default = 14) - period of the standard CCI indicator used here. The higher this number, the higher the delay of the indicator and the fewer false signals arise. As you can see, this indicator gives direct buy signals (blue arrow points up) and sell signals (red arrow points down).
You should not enter a position when the signal contradicts the general trend:
- if now bullish trend and you got a blue arrow - buy, if you got a red - do not sell, but close the long position;
- if now bearish trend and you got a red arrow - sell, if you got a blue arrow - do not buy, but close a short position;
- if now no trend - open positions in either direction, depending on the arrow.
Experts ForTrader.org magazine recommend that you set a stop loss at the level where the arrow is drawn (you can find out its exact numerical value by hovering your mouse pointer over it), and also use trailing stop For positions.