The CCI Double Smoothed Wilder’s EMA indicator for Metatrader 5 creates buy & sell trading signals based on the Commodity Channel Index & EMA technical indicator.
The indicator uses Wilder’s exponential moving average (EMA) for better trend prediction.
How to interpret this indicator?
- The blue colored line indicates an uptrend.
- The orange colored line indicates a downtrend.
The CCI Double Smoothed Wilder’s EMA indicator works for any trading instrument that can be loaded in the Metatrader 5 platform.
The following indicator inputs and parameters can be modified: CCI period, Wilder’s EMA period, and price.
First, familiarize yourself with this technical indicator and test it on a demo account.
It supports all time frames and Forex pairs.
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CCI (double smoothed Wilders EMA)(zl).mq5 Indicator (MT5)
Chart Example
The following chart shows how the CCI Double Smoothed Wilder’s EMA indicator looks when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The CCI Double Smoothed Wilder’s EMA Indicator?
Find a simple trading example below:
Buy Signal
- A bullish signal is given when the blue colored signal line gets displayed on the chart.
- Open a buy trade and set your stop loss below the most recent swing low price.
- Close the buy trade for a fixed take profit target of your preference, or wait for a sell signal.
Sell Signal
- A bearish signal is given when the orange colored signal line gets displayed on the chart.
- Open a sell trade and set your stop loss above the most recent swing high price.
- Close the sell trade for a fixed take profit target of your preference, or wait for a buy signal.
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CCI (double smoothed Wilders EMA)(zl).mq5 Indicator (MT5)
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 (double smoothed Wilders EMA)(zl).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