Woodies CCI Arrows Indicator MT4
- Indicadores
- Eda Kaya
- Versão: 1.3
Woodies CCI Arrows Indicator for MetaTrader 4
The Woodies CCI Arrows Indicator for MetaTrader 4 (WCA) is a momentum-based tool that relies on a 14-period Commodity Channel Index (CCI) within the MT4 platform. This custom indicator blends multiple components, including the standard CCI and the Least Squares Moving Average (LSMA). When the CCI maintains an upward slope for six consecutive candles, the indicator highlights this in green. Conversely, a sustained downtrend for six bars is marked in red. Buy arrows (green) are triggered when price candles close above the LSMA line, while sell arrows (red) appear when candles close beneath it.
«Indicator Installation & User Guide»
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WCA Indicator Table
Category | Oscillators – Trend Detection – Trade Signals |
Platform | MetaTrader 4 |
Skill Level | Entry-Level |
Indicator Type | Leading – Momentum |
Timeframe | M1 – M5 – M15 – M30 – H1 – H4 |
Trading Style | Scalping – Day Trading – Intraday |
Applicable Markets | Forex – Commodities – Equities – Indices |
Bullish Conditions in the WCA Indicator
On the H1 chart of the USD/CHF pair, a bullish signal is generated by the Woodies CCI Arrows Indicator for MetaTrader 4 when the candles consistently stay above the LSMA-defined trend line. In addition to the upward trend shown by the CCI histogram, these signals help traders spot potential long trade setups with greater accuracy.
Bearish Conditions in the WCA Indicator
For the ETH/USDT pair on the 1-hour chart, the indicator flags a bearish opportunity when candle closes occur below the LSMA line. With the CCI histogram confirming a downward momentum, traders can evaluate these signals as potential short entries.
WCA Indicator Inputs
- TrendCCI_Period: Defines the CCI period used for identifying trend direction
- TrendPeriod: Number of bars required to validate the trend
- LSMAPeriod: Period setting for the LSMA trend filter
Summary
The Woodies CCI Arrows Indicator for MetaTrader 4 is designed to assist traders in identifying sustained directional moves in price. The indicator is particularly useful in confirming trend momentum and divergence conditions. A CCI above the zero line for six bars signals bullish strength, while six bars below zero highlight bearish dominance, offering valuable context for informed decision-making.