CCI Expert Advisor Setup - Setting Up Commodity Channel Index Expert Advisor
Commodity Channel Index Expert Advisor Setup - Setting Up CCI Expert Advisor - A trader can come up with CCI Expert Advisor based on the Commodity Channel Index (CCI) indicator explained below.
Commodity Channel Index (CCI) Expert Advisor rules can be combined with other indicators to come up with other EA Bots that trade using rules based on two or more indicators combined to form a system.
Commodity Channel Index - CCI Analysis & CCI Signals
Created by Donald Lambert
The Commodity Channel Index measures the variation of a commodity price from its statistic mean/statistic average.
This indicator is an oscillator which oscillates between high levels & low levels
When the Commodity Channel Index is high it portrays that price is unusually high compared to the its average.
When the CCI is low it illustrates that price is unusually low compared to the its average.
Commodity Channel Index Expert Advisor Setup
Forex Technical Analysis and How to Generate Signals
Overbought/ Oversold Levels
The CCI typically oscillates between ±100.
Indicator values above +100 indicate an overbought conditions and an impending market correction.
Indicator values below -100 indicate an oversold conditions & an impending market correction
Buy Signal
If the Commodity Channel Index indicator is oversold, areas below -100, then there a pending market correction.
Oversold levels will remain intact until Commodity Channel Index indicator starts to move above -100.
When price starts moving above -100 then that is interpreted as a buy.
The Commodity Channel buy signal should be combined with a trend-line break signal to confirm the buy.
Buy Trade - Forex Commodity Channel Index EA Setup
Sell Signal
If the Commodity Channel Index is over bought, zones above +100, then there a pending market correction.
Overbought areas will remain intact until CCI indicator starts to move below +100.
When price starts moving below +100 then that is a interpreted as sell.
This Commodity Channel sell signal should be combined with a trend-line break signal to confirm the sell.
Sell Trade - FX Commodity Channel Index Expert Advisor Setup
