The RSI + CCI Forex Scalper for Metatrader 5 is a great scalping indicator if you are looking for 7-15 pips per trade profit.
The indicator consists of the RSI and CCI overbought/oversold technical indicators.
It shows up in a separate chart window as green and violet colored signal clouds that deliver the actual buy or sell trade entry.
The trade logic goes as follows:
- The green colored RSI + CCI cloud is a bullish signal.
- The violet colored RSI + CCI cloud is a bearish signal.
We aim for 7-15 pips profit per trade (profit target depends on the chosen time frame).
The indicator contains the following inputs and parameters: RSI and CCI period, price, style, and colors.
First, familiarize yourself with this technical indicator and test it on a demo account.
It supports all time frames and Forex pairs.
Download Indicator 🆓
Chart Example
The following chart shows what the RSI + CCI Forex Scalper indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The RSI + CCI Forex Scalper Indicator?
Find a simple trading example below:
Buy Signal
- The start of the green colored RSI + CCI indicator cloud is a buy signal.
- Open a buy trade and place a stop loss below short-term support.
- Exit the buy trade for 7-15 pips profit per trade.
Sell Signal
- The start of the violet colored RSI + CCI indicator cloud is a sell signal.
- Open a sell trade and place a stop loss above short-term resistance.
- Exit the sell trade for 7-15 pips profit per trade.
Download Now 🆓
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 RSI + 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
