I think I have a pretty good trading system, but it needs some adjustments. Feel free to comment, use and suggest improvements.
It is based upon CCI(34). And I use 4 time cci (by mladen, but I have modified it.), to clearly see CCI above or below zero and for its alert function. (Yes it’s readjusting but not repainting).
I find the woody CCI more useful than the ordinary CCI. TrendCCI period 34. The same on all tf. I trade it on 5 min and i have attaced 5 min CCI, 15 min cci, 30 min cci and 60 min cci. See attachment.
To find pivots and support and resistance levels I use camarilladt5. Great indicator.
I also use the ma_i-CA 5, ma_i-CA 15, ma_i-CA 60 for trend line and support and resistance.
When all TF CCI is above 0 go long or below 0 go short. This will keep you in the trend.
I currently developing money management and experimenting with ichimoku to sort out false trades.
The 4 time cci needs to be adjusted because now its not always alerting when the highest tf changing.
Hope you find it helpful and want do suggest improvements.
Supported by Ichimoku it will be a solid system for 2013.
I think M5-M15-M30 will be enough for scanning. The M60 is too far. Or trade it on higher TF like M15-H1-H4 (4x TF).
I have had some problems replying on tsd, but here comes my reply.
Yes indeed looks good, but sometimes 4 CCI is repainting one bar back. I have only noticed this at 15M and 30M tf. The woodies also repaint one bar back. So I tried another mtf CCI which don’t repaint. That’s how I found out that 4 CCI repaints one bar back and therefore don’t alert when all time frames are aligned up/down.
I changed the indicator that 4 cci is based on to MTF_CCI and tried to extend the period that aligned are up/down. But it still repaints. So it must be somewhere in the 4 CCI coding.
I Will try to upload the MTF_CCI indicator later.
Thanks for the help so far.
I think we had this conversation already
Anyway, 4 time frame series works the normal way how multi time frame indicators work - updating all the bars belonging to higher time frame as that is the standard way mutually agreed upon as a normal multi time frame mode to avoid real repainting. You use a way that does not update all the bars of the current higher time frame value and that is OK until you change symbol or time frame or restart the terminal in which case you get completely different (repainted) values than the ones you saw in run time. So it is a matter if compromise on both sides, but since the majority decided that mtf must update all the bars of the higher time frame (it is not so just on metatrader but other trading platforms do so too) I use the mode that is widely agreed upon as a "normal multi time frame mode of work"
woody cci patterns
there are paterns u can trade with woddies cci
GD WORK BUT got some error in SL time
Tanks for the appreciation. Have been unable to reply due to that the reply box was gone. But since the forum has been updated I’m now able to reply.
I’m a lousy programmer. What kind of error in the SL line? Any way to correct that?
I think I have a mql5 account. I will look in to that.
how long do you trade it yet?
Has anyone tried this out yet and saw if it worked?