CCI Arrows is a very handly little indicator which will show an arrow each time the CCI crosses the 0 line, the arrow indicator will draw an arrows in the specified direction of the cross without the need of putting the CCI indicator on the chart.
As most of you may already know, many pro traders will swear by the CCI indicator since it is one of the great indicators which comes in the default Metatrader Package. The CCI is very responsive to price changes and lags a little less than the RSI. The CCI is good to determine the market situation to know whether we are in bearish or bullish condition. It can be used for long term trend on higher timeframes or for daytrading on lower timeframes. This indicator will be helpful for those traders who prefer to keep it simply and abstain from clustering their charts with lots of indicator windows. It also relieve the eyes from the great strain of hunting the CCI crosses personally and let the indicator do it for you.
The Indicator parameter is the default CCI period which is the length the CCI will go back in history, the longer=the smoother but more lag. CCI 14 is the default setting and its quite accurate as such.
As you can see, the indicator is very simply and does not cluster your charts. You can choose the color of the arrows based on your own liking. However, although this indicator can be very good for trade entries, it is advised not to take trades which goes against the established trend, whether long term or short term. You can use different methods to gauge the trend and the most popular method is to look for the trend on higher timeframes, then take trades only in the direction of this higher trend from a shorter timeframe. For example, if we have an Up trend on H1 and H4, we only take long (buy) trades from a shorter timeframe, for example M5 or M15. Taking counter trend trades can be risky, however, there are traders who are experts in counter trend trading. So, this part is solely on the traders side as per his liking.
As for the indicator, a Red arrow would mean sell opportunity and a buy arrow would mean by opportunity.
Thank You bossxero for Your Excellant Contribution.
This is Really Very Useful with the Arrows.
Thanks Bossxero. I will try this and see if it fits what I need. I was looking for a CCI indicator that had some sort of 'customisable' audio alert - where I can record the alert sound and the indicator would let me chose the appropriate one for each FX pair. For example 'EURUSD dropping below CCI 90' that would bring my attention back to the apprpriate screen/chart to make a decision.
If anybody knows where I can get hold of that sort of indicator, or who can code one like that, I would be very (did I say very) grateful. I did say very, didn't I??
Seriously, hope somebody out there has the skills or knowhow to help.
thanks for this wonderful indicator...i hope its got a sound alert and a pop up...if not i'll try recode it then repost it again. Good work
Hi, I agree that it would realy be great if there was a CCI Arrows indicator that had an alert at every new arrow.
My ultimate wish though (if I had the programing skills, I would create the code my self) is an automated bot that would buy at every blue arrow (provided the pair was in an uptrend confirmed by the fisher indicator),then close the order at the next red arrow. And visa versa. Sell at every red arrow provided the pair was in a down trend confirmed but the fisher indicator etc etc. Is there anyone out there who has the skills to program this? or who has created a similar bot already?
I think this will be what you need. It will alert for every new arrow. You can also select the sound also.
Hi master4x, I'm new here, and I signed up because of the CCIArrows with alert indicator. Thank you so much uploading this file. I've been looking everywhere to find a way to create an alert for this indicator. THANK YOU!
You are very welcome. If you need anything else let me know and maybe I can help.
Thx for this, I looked long time in many places
Hi, when I load the indicator it alerts non stop Does anyone have any idea how to fix it pls?
I tested the indicator and it did not alert non-stop for me. I also checked the coding and it seems ok. So I have one question. When you say it alerts non-stop, do you mean the popup (real alert) is non-stop or do you mean that it plays sound non-stop? I think it will play sound for as long as the candle is still open. The "alert" though would only occur once per candle. This makes sense to me because if it were programmed to sound only once and then stop then there would be no point in playing sound anyways. This is because the alert would play a sound automatically when it goes off. The sound is continuous so you hear it.