Commodity Channel Index (CCI) Metatrader 4 Forex Indicator
The CCI trading indicator was developed by Donald Lambert. It’s an oscillator that usually fluctates between -100 and +100 with extreme values above +100 and below -100.
The CCI Metatrader 4 indicator can be used to spot divergences between price and CCI or to spot oversold and overbought market conditions.
For best trading signals, use CCI together with a trend following indicator such as the moving average.
The AUD/USD H1 chart below shows the Commodity Channel Index forex indicator in action.
Basic Trading Signals
Use the CCI indicator together with a trend indicator.
When the trend is up, trade the CCI buy signal and ignore its sell signal.
When the trend is down, trade the CCI sell signal and ignore its buy signal.
Buy: The indicator crosses back above -100 from below (oversold condition).
Sell: The indicator crosses back below +100 from above (overbought condition).
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (CCI Period) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the CCI.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)