Using CCI to Make a Living Off Forex - page 27

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Figured out own question : )

 

Don't Change a Thing Just Yet.

This works for the very reasons you say - it takes the market, especially, USD, into consideration as a whole.

 

tpl&indics

golden1:
I did not enter till the first red line as the trade was setup,

but the trend indicators did not really agree till then.

Let it go past my usual tp as it became strong

the move and went right to the next MM level below.

Brian

Brian can u post r tpl and indicators pls?

 
hifromeddie:
Hi James,

I just arrived at the Forum to post a question about trading divergences on CCI, and then I noticed your post so I thought to post it here.

Elsewhere on the web I found a CCI strategy about trading divergences using CCI. I will repeat the info here, and then share my question:

Divergence in a oscillator indicator (like CCI, Stochastics, RSI, RVI, WPR, ADX, MACD etc.) is basically where the price (in a uptredn) makes new highs but the oscillator indicator fails to make new highs. Similarly in a downward trend the price is making new lows but the indicator is failing to make new lows.

These divergence patterns potentially indicate that a reversal is about to take place because the trend is starting to run out of momentum, and divergences are often very strong reversal signals (but not every time).

So getting back to the CCI divergence trading system, it is recommended that you add two CCI indicators to a chart (add CCI Period 10 and CCI Period 60) because this will filter out a lot of false signals.

You want to wait for a divergence pattern to emerge on BOTH of these indicators. You can use just one indicator, but it is recommended to use both of them if you want to identify the very best signals.

See the image for a divergence example using cci 10, and cci 60.

I use a free cci divergence indicator that has a alert signal when there is a divergence setup (see mq4 attachment). The higher the timeframe the more accurate.

The cci divergence indicator has 3 adjustable settings (Fast EMA 12, Slow EMA 26, Signal SMA 9). These can be adjusted.

The regular MT4 CCI has only one setting (Period 14 default).

The above settings (12, 26, 9) in the CCI divergence indicator are very close to Period 10 in CCI.

My Question: What 3 settings (on the divergence cci with alert ) would I use to get CCI Period 60 or close to it?

This way I can add two divergence cci's to the chart and wait for both of them to show a trade signal at the same time.

Hi

I have a question about the the divergence indicator you posted. Does it give an alert or an arrow shows up JUST at the close of that candle or it waits for another candle to close before confirming?

Thanks.

 

I need your help James the giant and altoronto

Thank you James for a decent thread for cci.

Due to limited capital for trading I deviced a cci based and price action channel based system and need coding help and your evolution of all we people are fighting to get a success and decent living forex,apart from the scams and frauds generated by brokers.

And price being the real decisive factor I channelised it with price action channels and envelopes (I tried using line charts instead of bars no problem if the system is deviced with bars.) as entry signal is based on channel crossing price and cci at 0 and +_ 100 as the case be.

Please have a look at my chart and indicators;

I am in need of a clear price action and cci based system which is a ultimate success in forex,so far as I tested manually when there is no fear factor it provided and rewarded enormous profits which are not my normal targets.

I need your help:

I used macd candles v3 indicator in the first chart and envelopes at 34 which are blue lines and a middle band of green which is a sma of 34.

below is a price action channel indicator which is made up of 12 sma .

when price crosses below the channel of 12 (It's b'coz of perfect gann reduced at 12)I became a fan of gann after I got to see his methods.

Elliot wave oscillator cross the zero line up and cci crossing at 45 (BUT NOTABLE MY PRICE IS ALWAYS TYPICAL PRICE HLC3).,with this oscillator the trend is amazingly fine but scrutiny is needed here hence I have overlayed 3 indicators over it cci at 45 (layers 0,+ and -100),rsi at 18which is green coloured in the oscillator,momentum at 12 with a layer of 100 coloured blue.,as usual

rsi crossing 70 or 50 up or down for a buy ,sell signal.

as you know 5 is too close to the price as well as floor methods of 9,18 works only on good trends, we can combine all in one here to take a super entry.

so my sma's (but linear ma provides fast moves of crossing)are 5,9,12,18,34 these are the market movers to my clear analogy which float always with price on its diferent angles.

entry:

when price action channel at 12 is crossed by price from below and indicators primarily cci crosses at 45 at zero(probably 100+_ works) but fear factor.when macd candles v3 shows green hard green or light green when elliot waves show a uptrend after zero line (or you can put the 0.0018 and 0.0034 as entry lines for trend in the elliot oscillator so early and better positioning of price).

Entry can be made for a buy when all above conditions are met and I use cci arrow for 45 which is shown as the yellow arrow at the beginning of the trend.

similarly when Price action channel at 12 is crossed by price from up and indicators primarily when cci crosses at 45 or use cci arrow take entry for a SELL.macd candles show red or maroon colour that's a sell.

MACD CANDLES V3 parameters I used for is 12,45,2. close to price but determines trend well.

If prices are below 12,and 18,34 the trend is sure a down and if prices are above 12 and 18 and above 34 the trend is a uptrend,this is for the reason I used 34 envelopes above the price action channel.

NOW WHAT I NEED IN THE EA;

First of all price action channel messages on price crossing(Instead I need a cross alert arrow plotted on chart),take entries in conjunction with cci 45 and price action channel entry alert(please make a arrow plotted instead of message alert).,take trades in that direction,

closing of buy and sell trades:

when price is crossed but does not cross both channel take profit., if price channel is closed close trades with conjunction of cci recross signal., to me simply pac and cci are the best fundamental trade option.,but price reversal can harm any trades and none can determine the real price .basically ECN' with high asset worth survive the issues.

For risk capital owners like me ., channels and cci are the best movements of trades.

so help me get a EA with price action and cci basically the chart elements of elliots and zero lag and range oscillator work on manually well., but it's the decision making when you have little money as capital makes a frustration and it fumbles my trades.

MY NEED FOR EA IS DUE TO LACK OF CONTROL OVER MY EMOTION,AND MONEY WORRIES.Not greed that drives,lack of discipline to follow rules and fear factor of loosing profits make me drive to ask for rule based EA., and I would never have to worry about the trades whether it is day or night., (I suffocate a lot of health problems due to trading with this mentality-purely monetarial pressures).

If you need any further explanations I am ready to provide for a successful ea.

CHART II;

chart 2 is with line chart and price is with green line in price charts.

price chart is composed with Lma's of 5,9,12,18 and the arrows are from 3ma crossover alert and cci arrow at 9,12,45.when the price line is crossed by channel's and when 3ma crossover alert and cci arrows show entry signals trade and exit based on PAC and cci.

The 3 ma crossover alerts v2 are not working properly I used the parameters as (3,-3,1 ,9,-5,1,12,-5,0) and it shows good great signals but it works late and the arrows doesnot appear real time.MAIN DRAW BACK.,

this is why I seek price action signals to work as arrows(instead of alert message)., when in conjunction with 3ma crossover alert the signals will be perfect for a trade.

so I seek you to help me with a simple system of pac and cci cross alert based EA with trailing stop and trailing profit step to protect profits and save from loss.

regards

swami nair

 

thank you nair for the system. can you please post the template?

thanks

-B

 

The thing is, CCI and RSI are very similar. When one goes up, so does the other. And vice versa.

So it doesn't matter which indicator one uses.

 

Nair, your system is interesting, but I think it has too many indicators which are slowing it down, and limiting its effectiveness in a changing market. You should simplify it and take more important things into account such as instead of Macd candles, just look at daily time frame trend, and only trade it on 4 Hr for instance with possible entries on 1 HR where channel is broken for instance and then looking at price action on 4 HR.

Your post is very large and I really did not want to read it more than twice, so I suggest to simplify your system or rules then posting it again.

 

First of all!

Thanks James for your system.

I would like to ask what TP/SL levels that you're using and what your exit strategy is.

Thx

Norb1001

 

My stop Loss level is the most recent low or high, yet I end up trailing my stop immediately after entering a trade because momentum is very large. I have no set tp level, I close my trade after non lag MA changes in direction.

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