The CCI Candle Histogram Forex indicator for Metatrader 5 represents a simple-to-use scalper strategy based on colored CCI candlesticks.
It provides trading signals that should work for both scalpers and intraday traders.
The indicator shows up in a bottom chart as colored candlesticks that appear above and below the zero level.
How to interpret this CCI based indicator?
- CCI candles above zero indicate a bullish scalper trend.
- CCI candles below zero indicate a bearish scalper trend.
The following indicator inputs and parameters can be modified: period (14), extreme values -100 and 100, style, and color.
The CCI Candle Histogram indicator works for any trading instrument that can be loaded in the Metatrader 5 platform.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and Forex pairs.
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CCI_Candle_Vol.mq5 Indicator (MT5)
Chart Example
The following chart shows what the CCI Candle Histogram indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The CCI Candle Histogram Forex Indicator?
Find a simple trading example below:
Buy Signal
- The appearance of the blue CCI candle above zero is a buy signal.
- Open a buy trade and place your stop loss 3 pips below the most recent support area.
- Close the buy trade for 5-15 pips profit or wait for a bearish reversal signal.
Sell Signal
- The appearance of the yellow CCI candle below zero is a sell signal.
- Open a sell trade and place your stop loss 3 pips above the most recent resistance area.
- Close the sell trade for 5-15 pips profit or wait for a bullish reversal signal.
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CCI_Candle_Vol.mq5 Indicator (MT5)
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_Candle_Vol.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