The RSI with CCI indicator for MT4 can be categorized as a beginner-friendly trend trading indicator with a sideways price action filter that delivers great results.
The indicator pops up a separate MT4 chart window with 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 indicate 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.
RSI & CCI Trend + Gann Scalper MT4 Intraday Strategy
This intraday strategy combines the RSI with CCI Forex Trend Indicator MT4 and the Gann Forex Scalper Indicator MT4 to capture short-term trends.
The RSI with CCI shows momentum via histogram bars, while the Gann Scalper provides precise entry signals.
It works well on 15-minute, 30-minute, and 1-hour charts, making it ideal for intraday traders seeking quick trades across multiple currency pairs.
Buy Entry Rules
- Trend Confirmation: RSI with CCI histogram is green, indicating bullish momentum.
- Entry Signal: Wait for a green buy arrow from the Gann Scalper Indicator.
- Trade Execution: Enter a buy trade at the close of the arrow candle.
- Stop Loss: Place below the nearest swing low or a small percentage based on your risk tolerance.
- Take Profit: Set at a 1:1.5 to 1:2 risk/reward ratio or near the next short-term resistance.
Sell Entry Rules
- Trend Confirmation: RSI with CCI histogram is red, indicating bearish momentum.
- Entry Signal: Wait for a red sell arrow from the Gann Scalper Indicator.
- Trade Execution: Enter a sell trade at the close of the arrow candle.
- Stop Loss: Place above the nearest swing high or a small percentage based on your risk tolerance.
- Take Profit: Set at a 1:1.5 to 1:2 risk/reward ratio or near the next short-term support.
Advantages
- Combines trend confirmation and precise entries for high-probability intraday trades.
- Works on multiple short-term timeframes.
- Reduces false signals by waiting for both indicators to align.
- Adaptable to several currency pairs like EUR/USD, USD/JPY, and AUD/USD.
Drawbacks
- Sideways or choppy markets may produce fewer accurate signals.
- Requires active monitoring of trades for intraday setups.
- Smaller pip targets mean multiple trades may be needed to accumulate profits.
Case Study 1: EUR/USD 15-Minute Chart
On May 10, the RSI with CCI histogram turned green on the 15-minute chart.
A green arrow from the Gann Scalper appeared at 10:30.
A buy trade was executed at 1.0980, stop loss at 1.0965, and take profit at 1.1005.
The trade reached the target within 45 minutes, earning 25 pips.
Case Study 2: AUD/USD 30-Minute Chart
On May 12, the RSI with CCI histogram turned red on the 30-minute chart.
A red arrow from the Gann Scalper appeared at 14:00.
A sell trade was entered at 0.6785, stop loss at 0.6800, and take profit at 0.6760.
The trade reached the take profit in 90 minutes, netting 25 pips.
Strategy Tips
- Always wait for the candle close to confirm signals on short timeframes.
- Use small lot sizes for intraday trades to manage risk effectively.
- Focus on major currency pairs for better liquidity and tighter spreads.
- Consider trailing stops to secure profits as the price moves in your favor.
- Avoid trading during major news releases to prevent volatility spikes.
