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Trend CCI

The Trend CCI indicator for MT5 is an advanced version of the CCI indicator optimized to identify trend reversal accurately. With the Trend CCI Indicator MT5, traders can easily identify the trend direction and spot potential entry and exit points, making it a useful and popular tool for Forex trading. Try Now! Download Free!

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Description

The Trend CCI (Commodity Channel Index) indicator for MT5 is an improved version of the traditional CCI indicator available on the MetaTrader platform. It is built with extra features and optimized to interpret the market condition with better accuracy.

The indicator can be used to identify trend reversal and direction of the market. Therefore, it is a suitable trading tool for scalpers, day/intraday, and swing Forex traders.

How to trade with CCI?

The CCI indicator can be used to identify trading opportunities when it forms a divergence with the price. So, traders may look for a buy entry when the indicator forms a bullish divergence with the price and sell when it forms a bearish divergence. Another way to trade with the CCI indicator is to look for buying or selling opportunities at the oversold/overbought zone of the indicator.

Features of the Trend CCI Indicator for MT5

The indicator is built with the moving averages of different periods, histogram bars, and Least Squares Moving Average (LSMA). It operates within a range of +200 and -200, which depict overbought and oversold zones, respectively.

Furthermore, the histogram bars of the indicator show the prevailing momentum of the price. It signals bullish momentum when the bars are above the centerline, while bearish momentum is when the histogram bars are below the line.

Benefits of Using the Indicator

  • Detects Overbought/Oversold zones: The indicator detects extreme zones in the market where the price may change direction, thereby enabling traders to anticipate trading opportunities at the overbought/oversold regions.
  • Trend Confirmation/Confluence: The indicator can also be used as a supporting tool with price action to confirm potential trend reversal setups.

Indicator Settings Description

The indicator comes with the following customizable settings:

Time period: Determines the time to start the analysis.

Slow CCI: Determines the period of the slow CCI indicator.

Fast CCI: Determines the period of the fast CCI indicator.

Period LSMA: Determines the period of the Least Squares Moving Average (LSMA).

Bar of change of a trend: Defines the number of bars for a trend change.

How many bars: Determines the maximum bars for trend analysis.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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