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How to Add CCI Bitcoin Indicator in MetaTrader 4 Software Platform
Step 1: Open the Navigator Window on BTCUSD Crypto Software/Platform
Open Navigator window like is shown and illustrated below: Navigate to 'View' menu (click it) and then select and choose 'Navigator' window (press), or From Standard Tool Bar click 'Navigator' button or press key-board short-cut keys 'Ctrl+N'
On the Navigator window, select 'Indicators', (Double Click)
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Adding CCI MT4 Crypto Currency Chart Indicator
The Expand button function (+) or doubleclick the 'indicators' menu, after which this particular button will appear and be shown as (-) & will now display a list as is shown below - choose the Commodity Channel Index CCI trading indicator from this list of bitcoin indicators so as to add the CCI indicator in the bitcoin chart.
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How to Add Custom CCI Bitcoin Indicator in MetaTrader 4 Software Platform
If the CCI indicator you as the trader want to add is a custom indicator - for example if the CCI indicator you want to add is a custom indicator you'll need to first add this custom CCI crypto indicator in MT4 software and then compile custom bitcoin CCI indicator so that as the newly added CCI custom bitcoin indicator appears on the list of bitcoin custom indicators on the MT4 software.
To know how to install bitcoin CCI indicator on MetaTrader 4 Platform, how to add CCI indicator window to MT4 & how to add CCI custom indicator in the MT4 Software - How to add a CCI bitcoin custom indicator in MetaTrader 4 Platform Software.
CCI Trading Indicator Described
Commodity Channel Index
CCI indicator measures the variation of bitcoin price from its statistical mean(statistic average).
This Commodities Channel Index indicator is an oscillator that oscillates between high levels and low levels
When the Commodities Channel Index indicator is high it shows that bitcoin price is unusually high when in-comparison to the average.
When the Commodities Channel Index indicator is low it shows that bitcoin price is unusually low compared to the average.
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CCI BTCUSD Indicator Analysis & Generating BTCUSD Signals
CCI Overbought & Oversold Bitcoin Trade Levels
CCI indicator mostly oscillates between ±100.
CCI Bitcoin Indicator values/readings above +100 indicate overbought conditions and an impending bitcoin price correction.
CCI indicator values below -100 indicate an oversold conditions and an impending bitcoin price correction
Buy BTCUSD Signal
If Commodities Channel Index indicator is oversold, areas below -100, then there is a pending btcusd crypto price correction.
The CCI over sold levels will remain intact until the Commodities Channel Index indicator starts and begins to move above -100.
When bitcoin price starts moving above - 100 then that's interpreted as a buy bitcoin signal.
The CCI indicator buy cryptocurrency signal should be combined with a bitcoin trendline break signal to confirm the buy bitcoin signal.
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Sell BTC USD Crypto Signal
If the Commodities Channel Index indicator is overbought, zones above +100, then there is a pending btcusd crypto price correction.
Over bought levels will remain intact until CCI trading indicator starts and begins to move below +100.
When CCI starts moving below +100 then that is a interpreted as sell bitcoin signal.
This CCI indicator bitcoin sell signal should be combined with a bitcoin trendline break signal to confirm the sell bitcoin signal.
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Divergence BTC USD Crypto Trading
Bullish Bitcoin Divergence
Bullish bitcoin divergence occurs when bitcoin price is forming new lows while the CCI indicator is failing to surpass and move past its previous low.
This is a buy bitcoin signal because the bitcoin divergence will be followed by an upwards bitcoin price correction.
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Bearish BTCUSD Divergence
Bearish Bitcoin Divergence occurs when bitcoin price is forming new highs while the CCI indicator is failing to surpass its previous high.
This is a bearish signal because the divergence setup will be followed by a downward bitcoin price correction.
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Study More Lessons and Tutorials & Courses:
- How Do I Analyze BTCUSD Charts Using MT4 BTCUSD Trade Software?
- Trade BTC USD Analyze & Place Fibonacci Extension Levels in MT4 Bitcoin Charts
- What's BTC USD Trade & How Does it Work?
- How Do I Use Trade BTC USD Sell Stop Order on MetaTrader 4 Software Platform?
- Introduction to BTC USD Training Course Tutorial Lesson
- Nano BTC USD Trade Account Opening Shown
- MACD Line Crossover Signal Strategy
- Types of Different Methods of BTC USD Trade
- How to Install MT5 Bitcoin Trade Platform Software on a Computer
