The CCI Bar Forex Scalper for Metatrader 5 is an awesome scalping indicator that can help traders accumulate tiny profits daily.
Typically, we aim for 5-12 pips per trade (the profit target depends on the chosen time frame).
The CCI bar scalper is displayed in a bottom chart as small colored blocks that provide the entry signals.
The buy & sell trade logic goes as follows:
- A blue colored CCI block is a buy signal.
- An orange colored CCI block is a sell signal.
- A gray colored CCI block in neutral.
The London and American trading sessions will work the best for this scalper indicator.
Tip: Combine this tool with a trend indicator and trade in the direction of the overall trend.
The indicator contains the following inputs and parameters: CCI period, overbought, oversold, buy entry level, sell entry level.
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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Chart Example
The following chart shows what the CCI Bar Forex Scalper indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The CCI Bar Forex Scalper Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is given when the first blue colored block appears in the chart and the overall trend is upward.
- Open a buy trade and place a stop loss order below short-term support.
- Exit the buy trade for 5-12 pips profit per trade.
Sell Signal
- A sell signal is given when the first orange colored block appears in the chart and the overall trend is downward.
- Open a sell trade and place a stop loss order above short-term resistance.
- Exit the sell trade for 5-12 pips profit per trade.
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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_Bar.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