Introduction to the CCI Alert MTF Indicator
The CCI oscillator was developed by Donald Lambert to help traders assess price trend direction and momentum, as well as potential average reversals.
The CCI Alert MTF is a variation of the widely used CCI oscillator.
What is the CCI Alert MTF Indicator?
The CCI Alert MTF Indicator is an impetus indicator that is based on the Commodity Channel Index (CCI) oscillator. It is a modified version of the CCI oscillator that provides alert signals whenever it detects an impulse signal based on its CCI line.
The CCI Alert MTF Indicator charts a line that oscillates around zero, with values that could range above 200 or below -200.
This version of the CCI has markers at -200, -100, 100, and 200.
A CCI line break above 100 indicates that a bullish momentum is developing, while a CCI line falling below -100 indicates that a bearish momentum is developing.
This version of the CCI would cause the CCI line to change color whenever those levels are broken. It points to a lime green line whenever the CCI line breaks above 100, and a red line whenever the CCI line falls below -100. It also provides signal alarms whenever the CCI line breaks these levels.
A CCI line break above 200 can also be considered an overbought level, while a CCI line falling below -200 indicates a sellout level. As such, these are considered critical levels where average reversals can occur. This indicator also provides signal alerts whenever the CCI line reaches 250 or -250, which is considered the critical level.
This indicator also provides alert signals whenever the CCI line crosses zero, as this would indicate a moving bias reversal.
How does the CCI Alert MTF Indicator work?
The CCI Alert MTF Indicator has an algorithm that calculates for the difference between the Typical Price and a moving average line. It then divides the difference by the product of 0.15 and Average Deviation.
Typical Price (High + Low + Close) / 3
CCI = (Typical Price – MA) / (0.15 x Average Deviation)
This version of the CCI also includes the alert signals whenever the above mentioned levels are broken.
How to use the CCI Alert MTF Indicator for MT4
The CCI Alert MTF Indicator has several options within its indicator settings.
“CCI Period” refers to the number of bars used for the CCI calculation and is the main variable that modifies the sensitivity of the indicator.
“UpperTriggerLevel” and “LowerTriggerLevel” refer to the levels at which the impetus signals are generated.
“CriticalLevel” refers to the levels that would be considered overbought or oversold.
“Time” modifies the time frame on which the indicator is based. This input variable is in minutes.
Buy Business Settings
When to Enter?
Open a buy order as soon as the CCI line breaks above 100 and a bullish signal is generated.
When to Go Out?
Keep the market close when the CCI line breaks above 250 and close the trade as soon as bearish price action develops.
Sell Business Settings
When to Enter?
Open a sell order as soon as the CCI line falls below -100 and a bearish signal is generated.
When to Go Out?
Keep an eye on the market closely when the CCI line falls below -250 and close the trade as soon as a bullish price action develops.
This indicator is simply an improved version of the CCI oscillator, which is an effective momentum. Traders can incorporate this into a strategy in conjunction with other technical indications.
MT4 Indicators – Download Instructions
CCI Alert MTF Indicator for MT4 is a Metatrader 4 (MT4) indicator and the essence of this technical indicator is to transform the accumulated historical data.
CCI Alert MTF Indicator for MT4 provides an opportunity to detect various peculiarities and patterns in price dynamics that are invisible to the naked eye.
Based on this information, traders can assume an additional price move and adjust their strategy accordingly. Click here for MT4 Strategies
Recommended Forex Metatrader 4 Trading Platform
- International broker with 24/7 support.
- More than 12,000 assets, including Stocks, Indices, Forex.
- Fastest order execution and spreads of 0 pipes.
- Bonuses up to $ 50,000 from the first deposit.
- Demo accounts to test trading strategies.
Click Here for Step by Step RoboForex Trading Account Opening Guide
How to install CCI Alert MTF Indicator for MT4.mq4?
- Download CCI Alert MTF Indicator for MT4.mq4
- Copy CCI Alert MTF Indicator for MT4.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 4 Client
- Select Chart and Timeframe where you want to test your MT4 indicators
- Search for “Custom Indicators” in your Browser mostly left in your Metatrader 4 Client
- Right click on CCI Alert MTF Indicator for MT4.mq4
- Stick to a diagram
- Modify settings or press eight
- Indicator CCI Alert MTF Indicator for MT4.mq4 is available on your Chart
How to remove CCI Alert MTF Indicator for MT4.mq4 from your Metatrader Chart?
- Select the Chart where the Indicator works in your Metatrader 4 Client
- Right-click the Chart
- “List of indicators”
- Select the Indicator and delete
CCI Alert MTF Indicator for MT4 (Free Download)
Click below to download: