The Super Trend CCI indicator for Metatrader 5 provides highly effective buy and sell signals directly on the price chart.
It combines the supertrend and CCI indicators.
This indicator displays a 2-color line and delivers its signals as follows:
- When the line turns green, consider it a buy signal.
- When the line turns red, it indicates a sell signal.
Moreover, you have the flexibility to customize certain inputs and indicator variables, including adjusting the CCI period and selecting colors.
Before incorporating this indicator into live trading, it is crucial to comprehend its operation fully and extensively test it on a demo account.
A valuable tip for scalpers and intraday traders:
To achieve optimal trading results, it is recommended to use this indicator on narrow spread currency pairs, particularly during the London and New York trading sessions.
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The picture below shows how the Super Trend CCI indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Super Trend CCI Indicator?
Find a simple trading example below:
- The appearance of the green colored Super Trend CCI line triggers a buy trade.
- Initiate a buy market order and place your stop loss slightly below the green line.
- When a sell trading signal emerges on the chart, it is advisable to exit the buy position.
- The appearance of the red colored Super Trend CCI line triggers a sell trade.
- Initiate a sell market order and place your stop loss slightly above the red line.
- When a buy trading signal emerges on the chart, it is advisable to exit the sell position.
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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 Super_Trend.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