Forex Forum > Strategies Zone > Indicators >

CCI Arrows Indicator

Forum

Like Tree10Likes

 
LinkBack Thread Tools Search this Thread Display Modes

CCI Arrows Indicator
  #1 (permalink)  
Old 09-08-2009, 06:53 AM
bossxero's Avatar
Honorary Moderator
 
Join Date: Nov 2006
Location: Neverland
Posts: 851
bossxero has a spectacular aura aboutbossxero has a spectacular aura aboutbossxero has a spectacular aura about
Send a message via ICQ to bossxero Send a message via MSN to bossxero Send a message via Yahoo to bossxero Send a message via Skype™ to bossxero
CCI Arrows is a very handly little indicator which will show an arrow each time the CCI crosses the 0 line, the arrow indicator will draw an arrows in the specified direction of the cross without the need of putting the CCI indicator on the chart.

As most of you may already know, many pro traders will swear by the CCI indicator since it is one of the great indicators which comes in the default Metatrader Package. The CCI is very responsive to price changes and lags a little less than the RSI. The CCI is good to determine the market situation to know whether we are in bearish or bullish condition. It can be used for long term trend on higher timeframes or for daytrading on lower timeframes. This indicator will be helpful for those traders who prefer to keep it simply and abstain from clustering their charts with lots of indicator windows. It also relieve the eyes from the great strain of hunting the CCI crosses personally and let the indicator do it for you.

The Indicator parameter is the default CCI period which is the length the CCI will go back in history, the longer=the smoother but more lag. CCI 14 is the default setting and its quite accurate as such.


As you can see, the indicator is very simply and does not cluster your charts. You can choose the color of the arrows based on your own liking. However, although this indicator can be very good for trade entries, it is advised not to take trades which goes against the established trend, whether long term or short term. You can use different methods to gauge the trend and the most popular method is to look for the trend on higher timeframes, then take trades only in the direction of this higher trend from a shorter timeframe. For example, if we have an Up trend on H1 and H4, we only take long (buy) trades from a shorter timeframe, for example M5 or M15. Taking counter trend trades can be risky, however, there are traders who are experts in counter trend trading. So, this part is solely on the traders side as per his liking.

As for the indicator, a Red arrow would mean sell opportunity and a buy arrow would mean by opportunity.
Attached Files
File Type: mq4 CCIarrow.mq4 (3.3 KB, 1875 views)

Last edited by bossxero; 09-08-2009 at 06:55 AM.
Quote
  #2 (permalink)  
Old 09-12-2009, 01:24 PM
Currency Trader
 
Join Date: Sep 2009
Posts: 4
optionman1 is on a distinguished road
Thank You bossxero for Your Excellant Contribution.
This is Really Very Useful with the Arrows.
bossxero likes this.
Quote
  #3 (permalink)  
Old 01-31-2011, 12:36 PM
Currency Trader
 
Join Date: Dec 2010
Posts: 1
maxthedog is on a distinguished road
Thanks Bossxero. I will try this and see if it fits what I need. I was looking for a CCI indicator that had some sort of 'customisable' audio alert - where I can record the alert sound and the indicator would let me chose the appropriate one for each FX pair. For example 'EURUSD dropping below CCI 90' that would bring my attention back to the apprpriate screen/chart to make a decision.

If anybody knows where I can get hold of that sort of indicator, or who can code one like that, I would be very (did I say very) grateful. I did say very, didn't I??

Seriously, hope somebody out there has the skills or knowhow to help.
Quote
  #4 (permalink)  
Old 08-10-2011, 09:28 PM
Forex Trader
 
Join Date: Jul 2009
Posts: 6
tilex83 is on a distinguished road
thanks for this wonderful indicator...i hope its got a sound alert and a pop up...if not i'll try recode it then repost it again. Good work
Quote
Cci arrows audio alert and bot
  #5 (permalink)  
Old 10-03-2011, 09:11 PM
Currency Trader
 
Join Date: Oct 2011
Posts: 1
djredwood is on a distinguished road
Hi, I agree that it would realy be great if there was a CCI Arrows indicator that had an alert at every new arrow.

My ultimate wish though (if I had the programing skills, I would create the code my self) is an automated bot that would buy at every blue arrow (provided the pair was in an uptrend confirmed by the fisher indicator),then close the order at the next red arrow. And visa versa. Sell at every red arrow provided the pair was in a down trend confirmed but the fisher indicator etc etc. Is there anyone out there who has the skills to program this? or who has created a similar bot already?

Red
Quote
  #6 (permalink)  
Old 10-07-2011, 04:37 PM
Forex Warrior
 
Join Date: May 2010
Posts: 254
master4x is on a distinguished road
Quote:
Originally Posted by djredwood View Post
Hi, I agree that it would realy be great if there was a CCI Arrows indicator that had an alert at every new arrow.

My ultimate wish though (if I had the programing skills, I would create the code my self) is an automated bot that would buy at every blue arrow (provided the pair was in an uptrend confirmed by the fisher indicator),then close the order at the next red arrow. And visa versa. Sell at every red arrow provided the pair was in a down trend confirmed but the fisher indicator etc etc. Is there anyone out there who has the skills to program this? or who has created a similar bot already?

Red
I think this will be what you need. It will alert for every new arrow. You can also select the sound also.
Attached Files
File Type: mq4 CCIArrows.mq4 (3.6 KB, 708 views)
Angela and hermes777 like this.
Quote
  #7 (permalink)  
Old 07-02-2012, 04:55 PM
Currency Trader
 
Join Date: Jul 2012
Posts: 1
mastersye is on a distinguished road
Quote:
Originally Posted by master4x View Post
I think this will be what you need. It will alert for every new arrow. You can also select the sound also.

Hi master4x, I'm new here, and I signed up because of the CCIArrows with alert indicator. Thank you so much uploading this file. I've been looking everywhere to find a way to create an alert for this indicator. THANK YOU!
Quote
  #8 (permalink)  
Old 07-02-2012, 04:58 PM
Forex Warrior
 
Join Date: May 2010
Posts: 254
master4x is on a distinguished road
Quote:
Originally Posted by mastersye View Post
Hi master4x, I'm new here, and I signed up because of the CCIArrows with alert indicator. Thank you so much uploading this file. I've been looking everywhere to find a way to create an alert for this indicator. THANK YOU!
You are very welcome. If you need anything else let me know and maybe I can help.
Quote
  #9 (permalink)  
Old 08-12-2012, 11:49 AM
Currency Trader
 
Join Date: Jan 2007
Posts: 2
Angela is on a distinguished road
Quote:
Originally Posted by master4x View Post
I think this will be what you need. It will alert for every new arrow. You can also select the sound also.
Thx for this, I looked long time in many places
Quote
  #10 (permalink)  
Old 08-13-2012, 10:00 AM
Currency Trader
 
Join Date: Jan 2007
Posts: 2
Angela is on a distinguished road
Hi, when I load the indicator it alerts non stop Does anyone have any idea how to fix it pls?
Quote

Similar Threads
Thread Thread Starter Forum Replies Last Post
RSI/RSIMA crossover alert and arrows danbuffington Indicator Coding 10 11-09-2011 09:21 PM
Display MA Crossover Arrows CMEHH MetaTrader and ZeroCode 1 01-16-2009 12:09 PM
Need Arrows and alarm to be added to i-HighLow grinding789 Indicator Coding 1 08-16-2008 04:11 PM
RE: How to put Simple arrows indicators in Metatrader szymon_221175 MetaTrader and ZeroCode 0 09-13-2007 10:52 AM
Analyse your experts with Arrows scorpion Tutorials, Tips & Tricks 4 09-01-2006 04:12 PM