LOCInfo is a monitor custom indicator which displays multiple values from different timeframes. Also it displays current Bid price, symbol, spread and ZigZag pivot levels.
LOCInfo is displaying the values listed below:
- Pair, Price and Spread
- 5 bars back Commodity Channel Index (CCI)
- 4 bars back Average True Range (ATR) on all Timeframes, price distance in pips and direction
- Moving Average (MA) on all Timeframes, price distance in pips, direction
- Stochastic on all timeframes, value and direction
- Previous day levels (Day high/low), price distance in pips
- Current day levels (Day high/low), price distance in pips
- ZigZag levels, price distance in pips
LOCInfo trading strategy and rules
The trading strategy rules may vary but the main idea is to sell when CCI turns down from high (positive) values and to buy when CCI turns up from low (negative) values. Confirm with other indicators. Please check the table below for more info.
Open long (buy) order when:
- A yellow CCI value appeared after 4 green CCI values
- Confirm with ATR on lower Timeframes (1M 2M) arrow must point up
- Confirm with ATR on higher Timeframes (4H 1D) arrow must point down-sideway or up-sideway
- Don't enter if the price is close to resistance level (red line on the chart)
- Confirm with Moving Average and Stochastic (this is less important but sometimes useful)
Open short (sell) order when:
- A yellow CCI value appeared after 4 red CCI values
- Confirm with ATR on lower Timeframes (1M 2M) arrow must point down
- Confirm with ATR on higher Timeframes (4H 1D) arrow must point down-sideway or up-sideway
- Don't enter if the price is close to support level (green line on the chart)
- Confirm with Moving Average and Stochastic (this is less important but sometimes useful)
