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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Recursive_CCI.mq5 Indicator (MT5)
Chart Example
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:
Buy Signal
- 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.
Sell Signal
- 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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Recursive_CCI.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 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