DR Bob CCI Indicator

DR Bob CCI Indicator

DR Bob CCI Indicator For MT4 removes the choppiness around zero level in the classic MetaTrader CCI indicator. Clear and better CCI forex trading signals.

DR Rob CCI indicator for MT4 is an advanced version of the classic CCI MetaTrader indicator. It uses three different indicator values for confirmation of trading signals against the zero line. As a result, it removes the choppiness of the classic CCI indicator around the zero level. This helps forex traders to get clear bullish and bearish forex trading signals.

The indicator is easy to use for new and advanced forex traders. Moreover, traders can apply the indicator on all chart time frames. It enables intraday forex traders to get short term trading signals, however scalpers may not benefit from this indicator.

DR Bob CCI Indicator For MT4 Trading Signals

The indicator plots three indicator lines with different periods. Traders should focus on the Sky blue, Khaki lines and the zero level for trading signals. If the sky blue and khaki lines move higher than the zero level it indicates a bullish market signals. Similarly, a crossover below the zero level indicates the beginning of a bearish trend.

Traders can enter the market with a buy trade once the lines are above zero level with a stop loss below the previous swing low. The indicator does not provide a profit target so traders should exit at an opposite trading signal or with a good RR. A similar strategy can be followed if the lines move lower than the zero level.

Another important aspect of the indicator is the histogram bar length. A longer bar indicates a strong price trend. Though forex traders use the classic CCI to identify the divergences, it may not be the case for this indicator.

Conclusion
In summary, DR Bob CCI indicator for MT4 is an essential forex trading tool for traders using the CCI to identify bullish and bearish trends.