Using CCI to Make a Living Off Forex - page 28
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Cci
Hi James,
I'm new to forex trading and have loaded your templates and indicators. How do you use the CCI to assist in entering and exiting trades? From what I've read you don't enter a trade until both sets of arrows are blue and in opposite direction to the USD/CHF. Do you get in when the trend line starts to turn green from red? Do you get in when the CCI is above zero, 100? Thanks
Well, I would get in when all pairs are trending, even if USDCHF is trending in same direction as the other pairs, because market strength is market strength.
Well, I would get in when all pairs are trending, even if USDCHF is trending in same direction as the other pairs, because market strength is market strength.
what is your favoured method of pair strength?
I like using CCI to see pair strength. Higher CCI periods are great for getting into trends, and riding them across time frames to the end.
Well, I would get in when all pairs are trending, even if USDCHF is trending in same direction as the other pairs, because market strength is market strength.
I was wondering about this because i noticed this week usd/chf never really went in the opposite direction of the other pairs. And i felt like i left alot of money on the table but i didnt wanna get burned by going against the rules of the strategy set forth. Are you saying if all timeframes across both trend displays are alligned down then its safe to take trades in that direction? And if not how do u know?
Yes, if you can look at the trend displays and see an apparent trend, with 15 min trend display flickering in and out some times on some pairs, then it is fine, after all CCI is an oscillator, and will not follow price trend as well as a moving average, but that is why non lag MA is there.
I don't get it
James could you please post some screenshots when you enter an actual trade ?
~WW
Wow, does this happens a lot
?
When do i exit
Advantage of this strategy over others:
1) Easy and obvious identification of trends and low momentum markets
2) No more over trading!
3) Quality trades with probability on your side!
4) Market strength analyzed by multi timeframes, USD strength, and correlations
5)Alerts on pair momentum so no more waiting in front of your screen
Rules of the strategy:
Attached are 4 indicators. Two are trend displays which show all timeframes on all correlated pairs for Non Lag MA and CCI periods of 25 and 50, ASI, which shows true market trendline breaks without spikes or false breakouts to confuse you, and the visible on chart non lag ma.
Settings for CCI Trend Display should be set to CCI 25 and 50 with current candle on True, unless you prefer for some reason to only see the strength of the previous candle. I like to see the realtime market strength and trade that, so I set it to current candle.
Settings for Non Lag Trend Display should be set to Length at 30 and PCT Filter at 0.25
The smaller period CCI of 8 and 14 were too small and didn't work well with the Non lag to filter out market moves.
The 30 Length Non lag along with the double CCI work much better and catch larger moves in the market filtering out many small ones that are not as trade able.
Both Trend Displays made by Altoronto.
This strategy is very visual which give all the information you need through arrows.
For a purchase order: Up Arrow on 15 Min-1 HR on both trend Displays on all pairs except USD CHF which should be all down
AU/USD- Up Arrow
NZD/USD Up Arrow
EU/USD Up Arrow
GU/USD Up Arrow
USD/CHF Down or UP Arrow across the board
Sell Order- USDCHF can be trending up or down with the other pairs, but has to be trending strongly, so all arrows follow direction across the board.
(Trade in the direction of 4 HR)- If 4 HR is sideways, then don't trade that pair until its direction aligns with other pairs on 4 HR timeframe. Then you may take trades in that direction safely.
(Note: If most trend display arrows are up except 2 or 3 time frames across all pairs are sideways or down, then make the trade because the momentum is there. The other pairs will align. 2 or 3 unaligned arrows are allowed on both the CCI and Non Lag trend display.
Bonus- For the Trend line trader who wants extra confirmation
I have also attached the ASI indicator. It stands for Accumulative Swing Index.
This indicator is great for finding the true market level without the spikes, or false breakouts on any time frame. Only make trades in the 4 hr main trend, and you can even wait for multi pair trend line breaks to make a trade on smaller timeframes. Dont go crazy drawing trendlines, just focus on the immediate S/R, such as possible point on where the pair might revers, a trendline break for confirmation, and a trendline for following the pair in trend. And confirm the trendline break or bounce of s/r level by the multi pair correlated Non Lag MA and CCI trend displays.dear sir, thanks for software, pls when do i exit if trade is against me and which stoploss is okay for the signal i normally wait for all the arrow to align before thanks.
When do i exit
dear sir, thanks for software, pls when do i exit if trade is against me and which stoploss is okay for the signal i normally wait for all the arrow to align before taking a position thanks.