The Recursive CCI Forex indicator for Metatrader 5 delivers accurate trading signals to traders based on the Commodity Channel Index and smoothing price filters.
Three dotted colored lines are displayed alongside a highlighted yellow-green and hot-pink colored trade entry zone.
Recursive CCI indicator explained (main points):
- The yellow-green trade entry zone creates a buy signal.
- The hot-pink trade entry zone creates a sell signal.
The indicator contains the following inputs and parameters: time frame, CCI period, price, smoothing, turn on alerts, interpolate in multi time frame mode, etc.
Familiarize yourself with this technical indicator and test it first on a demo account until you fully understand how it works.
Its performance can vary significantly based on different market conditions such as trending markets, sideways markets, and others.
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The chart below illustrates how the Recursive CCI indicator looks like when applied to the MT5 chart.
How To Buy And Sell With The Recursive CCI Forex Signal Indicator?
Find a simple trading strategy below:
- The yellow-green trade zone signals a buy trade.
- Initiate a buy market order and place a protective stop below short-term support.
- Exit the buy trade for 10-35 pips profit potential, taken into account the time frame you have selected.
- The hot-pink trade zone signals a sell trade.
- Initiate a sell market order and place a protective stop above short-term resistance.
- Exit the sell trade for 10-35 pips profit potential, taken into account the time frame you have selected.
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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 Recursive_CCI.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