The RSI With CCI indicator for MT4 can be categorized as a beginner friendly trend trading indicator with sideways price action filter that delivers great results.
The indicator pops up a separate MT4 chart window as a colored yellow/green/red trend bars.
Buy & Sell Trade Example
- A new buy trade should be executed as soon as the first green bar appears on the chart.
- A new sell trade should be executed as soon as the first red bar appears on the chart.
- Yellow bars indicator sideways price action, stand aside.
For scalping and day trading on the lower time frames, the indicator tends to work the best during the London and American trading sessions.
The RSI With CCI indicator can be used for both trade entry and exit, or as an additional confirmation filter for other strategies and systems.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “gfk forex2.ex4” indicator for MT4
Indicator Chart (EUR/USD M5)
The example chart below displays the RSI With CCI mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the RSI With CCI indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Trend
Does the indicator repaint? No.
