CCI with Arrow Indicator

CCI with Arrow Indicator

The CCI with Arrow indicator for MT4 displays buy/sell signal arrows when the CCI identifies established trend conditions.

The CCI with Arrow indicator for MetaTrader 4 (MT4) is a momentum-based oscillator built with a signal arrow to determine an optimal entry zone to buy or sell an asset. It plots the signal arrows when the CCI (Commodity Channel Index) identifies an established trend condition.

The indicator may be helpful to a forex trader to spot short and long-term trading opportunities in the financial industry. Furthermore, it may also be used as a confluence with technical analysis/other indicators to make informed trading decisions.

CCI with Arrow for MT4 Buy/Sell Signals

The image shows the buy/sell signals generated by the CCI with Arrow indicator for MT4.

The zero line of the CCI indicator defines the trend of an asset as bullish or bearish. Thus, the indicator suggests that a bullish/bearish trend is confirmed when the indicator’s oscillator line moves/below or above the +100/-100 zone. Furthermore, it paints a buy arrow signal whenever the CCI crosses above the +100 zone, while a sell arrow would be displayed if it (CCI) falls below the -100 level.

So, open a buy/sell position when the CCI with an Arrow indicator displays a blue or red signal arrow. However, trading in the direction of the primary trend is highly recommended. Therefore, it is suited to help traders find entry zones to join a trending market after a minor pullback.

Conclusion
The CCI with Arrow indicator for MT4 is essentially a forex indicator that signals a buy or sell entry zone in a strong trend condition. Besides, it works in different timeframes, which makes it suitable for scalpers and day/intraday traders.