The CCI Divergence Signal Alert indicator for Metatrader 5 spots bullish and bearish divergences between price and the CCI oscillator.
The divergence trading signals appear as colored buy and sell arrows in both the main chart and bottom chart.
How to interpret the CCI indicator based divergence signals?
- The blue colored arrow represents a bullish divergence signal.
- The red colored arrow represents a bearish divergence signal.
The indicator contains the following inputs and parameters: CCI period, applied price, bullish color, bearish color.
Make yourself familiar with this technical indicator and test it first on a demo account.
The trading signals should perform equally well in any time frame and for any trade instrument of your preference.
Remember to have realistic expectations, performance will vary depending on market conditions (trending markets, sideways markets, etc.).
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The following chart shows how the CCI Divergence Signal Alert indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The CCI Divergence Signal Alert Indicator?
Find a simple trading example below:
- The blue colored CCI divergence signal alert arrow is a buy entry signal.
- Open a buy trade and place your stop order below the most recent support region.
- Exit the buy trade for a fixed profit target or wait for the red divergence alert arrow to reverse the buy position.
- The red colored CCI divergence signal alert arrow is a sell entry signal.
- Open a sell trade and place your stop order above the most recent resistance region.
- Exit the sell trade for a fixed profit target or wait for the blue divergence alert arrow to reverse the sell position.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the CCI_Divergence.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration