The CCI Signals forex indicator for Metatrader 4 is based on the very popular CCI (Commodity Channel Index) technical analysis indicator.
CCI is used in many forex systems and strategies.
This special version of the traditional CCI indicator displays buy and sell arrows on the activity chart.
Red arrows to sell and green arrows to buy.
The CCI Signals indicator uses oversold (-100) and overbought (100) trading levels to generate its buy and sell arrows.
- A green arrow appears when CCI reaches the -100 extreme oversold trading level
- A red arrow appears when CCI reaches the 100 extreme overbought trading level
The CCI Signals forex indicator works great in range-bound markets, however, it will fail in trending markets.
Therefore, combine it with a trend following forex indicator such as the 100 period SMA or the 75 period EMA.
Price above the trend following 100 SMA or 75 EMA? Only trade the green oversold CCI Signals arrows and ignore the red overbought arrows.
Price below the trend following 100 SMA or 75 EMA? Only trade the red overbought CCI Signals arrows and ignore the green oversold arrows.
The default indicator settings can be fully modified from the indicator’s input tab.
Free Download
Download the “cci-signals.mq4” MT4 indicator
Indicator Chart (USD/CHF H4)
The USD/CHF H4 chart below displays the CCI Signals Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the CCI Signals Metatrader 4 forex indicator are easy to interpret and go as follows:
Buy Signal: Go long when the CCI Signals indicator paints a green buy arrow on the activity chart.
Sell Signal: Go short when the CCI Signals indicator paints a red sell arrow on the activity chart.
Trade Exit: Close the open buy/sell forex position when an opposite signal occurs, or use your own method of trade exit.
CCI Signals and Zero Lag MACD Forex Scalping Strategy for MT4
This MT4 scalping strategy uses the CCI Signals Indicator to indicate buy and sell entry points with green and red arrows.
The Zero Lag MACD Indicator shows trend direction, where readings above zero indicate a bullish trend and readings below zero indicate a bearish trend.
The strategy is designed for M1, M5, and M15 charts and focuses on capturing short-term price movements in the direction of the main trend.
By using the signal arrows alongside the MACD trend filter, traders can enter high-probability scalping trades while minimizing false signals.
Buy Entry Rules
- Confirm that the Zero Lag MACD is above zero, indicating an uptrend.
- Wait for a green arrow from the CCI Signals Indicator.
- Enter a buy trade when the green arrow appears while the MACD remains above zero.
- Set stop loss below the most recent swing low or a nearby support level.
- Take profit after 10–25 pips or at the next resistance level depending on volatility.
Sell Entry Rules
- Confirm that the Zero Lag MACD is below zero, indicating a downtrend.
- Wait for a red arrow from the CCI Signals Indicator.
- Enter a sell trade when the red arrow appears while the MACD remains below zero.
- Set stop loss above the most recent swing high or a nearby resistance level.
- Take profit after 10–25 pips or at the next support level depending on price movement.
Advantages
- Fast and precise entry signals are ideal for scalping.
- Trend confirmation reduces the likelihood of false entries.
- Works on multiple short-term time frames including M1, M5, and M15.
- Visual signals make trades easier to follow and act quickly upon.
- Effective on major and liquid currency pairs for reliable moves.
- Helps capture small, repeatable profits throughout the trading session.
- Reduces emotional trading by providing clear rules and confirmations.
- Can identify both trend continuation and reversal opportunities for quick trades.
Drawbacks
- Fast-moving markets can cause late entries on smaller time frames.
- Sideways or choppy conditions may produce false signals.
- Constant monitoring is required on low time frames to manage trades effectively.
Case Study 1
On USDCHF M5, the Zero Lag MACD stayed above zero, signaling an uptrend.
A green arrow from the CCI Signals Indicator appeared at 0.9152.
A buy trade was opened with a stop loss at 0.9145 below the recent swing low.
Price moved quickly to 0.9167, capturing 15 pips in about 25 minutes.
The trade succeeded because the signal arrow and MACD trend aligned perfectly during the London session.
Case Study 2
On NZDUSD M1, the Zero Lag MACD dropped below zero, signaling a downtrend.
A red arrow from the CCI Signals Indicator appeared at 0.6678.
A sell trade was opened with a stop loss at 0.6685 above the recent swing high.
Price moved down to 0.6660, gaining 18 pips in under 10 minutes.
The combination of MACD trend and CCI arrow confirmation allowed a quick and high-probability scalp.
Strategy Tips
- Only enter trades when both the signal arrow and MACD trend confirm the direction.
- Keep stop losses tight to protect capital during rapid reversals.
- Avoid scalping during high-impact news releases to reduce the risk of sudden losses.
- Take profits quickly, as this is a fast scalping strategy and small moves are targeted.
- Adjust trade size according to time frame volatility and personal risk tolerance.
Download Now
Download the “cci-signals.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (CCI Period, CCI Price, levelOs, levelOb, Alerts) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Oscillator
