CCI Expert Advisor Stratagey
I am wondering if there is anybody who is kind to do some programming for me as I do not know how to.
I just want to create alerts when CCI 14 and 6 periods crossed or either of CCI 14 or 6 crossing the zero line ???
Thanks
Mehmet
I think you will have more success looking at Moving Averages of the CCI
The excellent CCI can peak almost anywhere, waiting for a cross of the 100 level can often be too late
A key way of using CCI is to see when the CCI line drops below its moving averages and noting divergence from price action
Let me know if you want some code for assessing CCI MA's
-BB-
This strategy was described here:
http://investopedia.com/articles/forex/08/CCI.asp
I've created an EA based on this idea a few months ago.
I added a couple of my own ideas.
I received the following result on EUR/USD H1 back testing 2001.01 - 2009.02.11:
Bars in test 51446
Ticks modelled 20601757
Modelling quality n/a
Mismatched charts errors 116
Initial deposit 1000.00
Total net profit 7685.53
Gross profit 25358.65
Gross loss -17673.12
Profit factor 1.43
Expected payoff 7.48
Absolute drawdown 11.60
Maximal drawdown 1003.25 (13.18%)
Relative drawdown 30.95% (501.16)
Total trades 1027
Short positions (won %) 560 (49.29%)
Long positions (won %) 467 (47.11%)
Profit trades (% of total) 496 (48.30%)
Loss trades (% of total) 531 (51.70%)
Largest
profit trade 507.88
loss trade -237.60
Average
profit trade 51.13
loss trade -33.28
Maximum
consecutive wins (profit in money) 10 (900.01)
consecutive losses (loss in money) 13 (-608.60)
Maximal
consecutive profit (count of wins) 997.34 (8)
consecutive loss (count of losses) -608.60 (13)
Average
consecutive wins 3
consecutive losses 3
Profit curve:
Order size is 0.1 Lots, two orders opened at once, one with doubled TP.
Re http://investopedia.com/articles/forex/08/CCI.asp
With great respect to the authors, I dont think this is their best interpretation...
The relatively low profit factor of the EA tends to confirm this
In general (IMHO!), CCI is better used as a divergence indicator, i.e. a break downwards in CCI while price action flat or still up indicates an imminent drop in price
Similarly I would use a CCI move from the lows to support a long
FWIW
-BB-
Do the Right Thing” CCI Trade
Without resorting to the mathematics of the indicator, please note that CCI is an unbounded oscillator with any reading of +100 typically considered to be overbought and any reading of
-100 oversold. For our purposes, however, we will use these levels as our trigger points as we put a twist on the traditional interpretation of CCI. We actually look to buy if the currency pair makes a new high above 100 and sell if the currency pair makes a new low below -100. In “do the right thing” we are looking for new peaks or spikes in momentum that are likely to carry the currency pair higher or lower. The thesis behind this setup is that much like a body hurtled in motion will remain so until it’s slowed by counterforces, new highs or lows in CCI will propel the currency
further in the direction of the move before new prices finally put a halt to the advance or the decline.
Rules for the Long Trade
1. On the daily or the hourly charts place the CCI indicator with standard input of 20.
2. Note the very last time the CCI registered a reading of greater than +100 before dropping back below the +100 zone.
3. Take a measure of the peak CCI reading and record it.
4. If CCI once again trades above the +100 and if its value exceeds the prior peak reading, go long at market at the close of the candle.
5. Measure the low of the candle and use it as your stop.
6. If the position moves in your favor by the amount of your original stop, sell half and move stop to breakeven.
7. Take profit on the rest of the trade when position moves to two times your stop.
Rules for the Short Trade
1. On the daily or the hourly charts place the CCI indicator with standard input of 20.
2. Note the very last time the CCI registered a reading of less than -100 before poking above the -100 zone.
3. Take a measure of the peak CCI reading and record it.
4. If CCI once again trades below the -100 and if its value exceeds the prior low reading, go short at market at the close of the candle.
5. Measure the high of the candle and use it as your stop.
6. If the position moves in your favor by the amount of your original stop, sell half and move the stop on the remainder of the position to breakeven.
7. Take profit on the rest of the trade when position moves to two times your stop.
Hi, could you upload the CCi auto trader here for me? or email me at ehsan.moninaz@gmail.com ? Thanks
The relatively low profit factor of the EA tends to confirm this
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Do the Right Thing” CCI Trade
Without resorting to the mathematics of the indicator, please note that CCI is an unbounded oscillator with any reading of +100 typically considered to be overbought and any reading of
-100 oversold. For our purposes, however, we will use these levels as our trigger points as we put a twist on the traditional interpretation of CCI. We actually look to buy if the currency pair makes a new high above 100 and sell if the currency pair makes a new low below -100. In “do the right thing” we are looking for new peaks or spikes in momentum that are likely to carry the currency pair higher or lower. The thesis behind this setup is that much like a body hurtled in motion will remain so until it’s slowed by counterforces, new highs or lows in CCI will propel the currency
further in the direction of the move before new prices finally put a halt to the advance or the decline.
Rules for the Long Trade
1. On the daily or the hourly charts place the CCI indicator with standard input of 20.
2. Note the very last time the CCI registered a reading of greater than +100 before dropping back below the +100 zone.
3. Take a measure of the peak CCI reading and record it.
4. If CCI once again trades above the +100 and if its value exceeds the prior peak reading, go long at market at the close of the candle.
5. Measure the low of the candle and use it as your stop.
6. If the position moves in your favor by the amount of your original stop, sell half and move stop to breakeven.
7. Take profit on the rest of the trade when position moves to two times your stop.
Rules for the Short Trade
1. On the daily or the hourly charts place the CCI indicator with standard input of 20.
2. Note the very last time the CCI registered a reading of less than -100 before poking above the -100 zone.
3. Take a measure of the peak CCI reading and record it.
4. If CCI once again trades below the -100 and if its value exceeds the prior low reading, go short at market at the close of the candle.
5. Measure the high of the candle and use it as your stop.
6. If the position moves in your favor by the amount of your original stop, sell half and move the stop on the remainder of the position to breakeven.
7. Take profit on the rest of the trade when position moves to two times your stop.