The CCI Stochastic indicator for Metatrader 5 combines CCI + Stochastic and it delivers trading signals that can be used for both trade entry and exit.
The indicator appears in a separate chart window as a colored signal line that uses the 20 and 80 extreme levels by default.
Understanding the indicator:
- A green colored signal line occurs when the indicator turns back above the 80 level.
- This creates a buy signal.
- An orange colored signal line occurs when the indicator turns back below the 20 level.
- This creates a sell signal.
The following indicator inputs can be modified: CCI period, CCI price, Stochastic period, Stochastic slowing period, level up, level down, colors.
For M1 and M5 chart traders: the London and New York trading sessions will deliver the best trading results.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames, Forex pairs and any other trade instrument.
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The following chart shows how the CCI + Stochastic technical indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The CCI Stochastic Forex Signal Indicator?
Find a simple trading example below:
- A buy signal occurs when the green colored line gets displayed in the chart.
- Optional but recommended: the overall trend should be pointing up.
- Open a buy trade and place your stop loss 2-3 pips below support.
- Exit the buy trade for a fixed take profit target of your preference, or wait for a bearish trend reversal signal.
- A sell signal occurs when the orange colored line gets displayed in the chart.
- Optional but recommended: the overall trend should be pointing down.
- Open a sell trade and place your stop loss 2-3 pips above resistance.
- Exit the sell trade for a fixed take profit target of your preference, or wait for a bullish trend reversal signal.
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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 – stochastic.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