The CCI MTF Signals indicator for MT4 provides currency traders with buy/sell arrow alerts, based on CCI extremes and some other input settings.
- A buy signal occurs when the CCI MTF Signals indicator draws an aqua arrow on the activity chart
- A sell signal occurs when the CCI MTF Signals indicator draws a red arrow on the activity chart
As you can see from the chart below, the CCI MTF Metatrader 4 indicator provides you with great signals for scalping and day trading purposes.
It gives you multiple trading signals throughout the day that are pretty accurate.
The buy and sell trend bias is also being displayed as colored histogram bars in a separate trading window.
The default CCI period is set to 14 but can be modified from the indicator’s inputs tab.
Free Download
Download the “cci-mtf-advanced-alerts.mq4” MT4 indicator
Indicator Chart (EUR/USD M15)
The EUR/USD 15-Minute chart below displays the CCI MTF Signals Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the CCI MTF Signals MT4 forex indicator are easy to interpret and go as follows:
Buy Signal: Initiate buy trade when the CCI MTF Signals MT4 forex indicator draws an aqua arrow on the chart.
Sell Signal: Initiate sell trade when the CCI MTF Signals MT4 forex indicator draws a red arrow on the chart.
Trade Exit: Use your own method of trade exit.
CCI MTF Signals + Simpler Trend MT4 Forex Strategy
This MT4 strategy combines the CCI MTF Signals Indicator with the Simpler Trend Indicator to create a clear trend-following strategy.
The CCI MTF Signals Indicator provides visual entry signals: blue arrows indicate buy opportunities, while red arrows indicate sell opportunities.
The Simpler Trend Indicator confirms the trend using candlestick color patterns: a series of green candles indicates a bullish trend and a series of red candles indicates a bearish trend.
Combining precise entry signals with trend confirmation helps traders avoid counter-trend trades and capture high-probability moves.
This strategy works well on major currency pairs and can be used on M5, M15, and H1 charts.
Buy Entry Rules
- The Simpler Trend Indicator must show a series of green candles, indicating a bullish trend.
- A blue arrow appears on the CCI MTF Signals Indicator.
- Enter a buy trade at the close of the candle confirming the blue arrow.
- Place a stop loss below the recent swing low or the bottom of the green candle series.
- Take profit when the trend shows signs of weakening, such as a red candle appearing in the Simpler Trend Indicator or a red arrow from the CCI MTF Signals.
Sell Entry Rules
- The Simpler Trend Indicator must show a series of red candles, indicating a bearish trend.
- A red arrow appears on the CCI MTF Signals Indicator.
- Enter a sell trade at the close of the candle confirming the red arrow.
- Place a stop loss above the recent swing high or the top of the red candle series.
- Take profit when the trend shows signs of weakening, such as a green candle appearing in the Simpler Trend Indicator or a blue arrow from the CCI MTF Signals.
Advantages
- Clear entry and exit signals reduce confusion and improve decision-making.
- Trend confirmation reduces false counter-trend trades.
- Works well on multiple timeframes and currency pairs.
- Allows flexible exits based on trend strength instead of fixed pip targets.
Drawbacks
- Sudden price spikes can trigger stop losses before trend continuation.
- Monitoring multiple indicators can be demanding for less experienced traders.
Example Case Study 1 – EUR/USD M5
During the London session, EUR/USD showed a series of green candles on the Simpler Trend Indicator.
The CCI MTF Signals Indicator displayed a blue arrow at 1.0875.
A buy trade was entered at 1.0875 with a stop loss at 1.0865 below the recent swing low.
Price continued upward and the trade was closed at 1.0890 when the first red candle appeared in the Simpler Trend Indicator, yielding 15 pips.
Example Case Study 2 – GBP/JPY M15
GBP/JPY on the M15 chart during the New York session showed a series of red candles on the Simpler Trend Indicator.
A red arrow appeared on the CCI MTF Signals Indicator at 152.35.
A sell trade was opened at 152.35 with a stop loss at 152.50 above the recent swing high.
Price moved downward and the trade was closed at 152.10 when a green candle appeared, capturing 25 pips.
Strategy Tips
- Use major currency pairs for smoother execution and reliable trends.
- Focus on M5, M15, and H1 charts for short- and medium-term trades.
- Do not enter trades if the arrow signal conflicts with the trend color on the Simpler Trend Indicator.
- Use dynamic take profit based on trend exhaustion rather than fixed pip targets.
Download Now
Download the “cci-mtf-advanced-alerts.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (CCI period, CCI price, oversold, overbought, smooth phase, CCI arrows) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: signals
