M3 trading Woodie CCI on MT4
Thank you for sharing this information and template with the community... I am sure it is very much appreciated... Happy pipping 
Very nice. I also trade the ZLR pattern sometimes, with very good results. BTW, did you notice that the ZLR pattern is actually a bounce of a moving average (of typical price)? You can see that in charts and also in the formula of the CCI.... Its interesting - knowing where does Woodies signals come from.
Great luck.
Very nice. I also trade the ZLR pattern sometimes, with very good results. BTW, did you notice that the ZLR pattern is actually a bounce of a moving average (of typical price)? You can see that in charts and also in the formula of the CCI.... Its interesting - knowing where does Woodies signals come from. Great luck.
Yes, i know that it is a bounce of a MA but with the WCCI indicator it is so very well projected.
I like it that way...
BTW, i attached the TF convertor with the .exe-file this time,
as well as a PriceAlert indicator.
Gilbert.
I changed the M3-template with the upper WCCI-indicator to be a better filter.Gilbert.
Hello any body have explain , how I will load the indicator, and trading method
I am new to this, please
bye
Ashok
Why M3? Try to trade the ZLR on 1-hour charts - you will have much stronger signals and much less trades (less spreads).
Hi Gilbert. Thank you for sharing this. I used to trade Woodie's CCI with Futures but never did on Forex. Yours looks like a nice and neat modified strategy. I don't remember any weighted CCI though. Can you confirm if my understanding is correct? A downtrend would be marked by the blue indicator below the zero line, and the opposite for an uptrend? Thank you
Hello again. Another question I'd like to ask: do you make any use of the Sidewinder and the Chop indicator? I hope you will reply soon, because I'm getting fond of your technique, after my initial disappointment with woodie's setup some years ago. 
One more question, please. Look at the pic. According to your new woodie's setup, would that still be a valid ZLR, desander?
Desander: Forgot to ask you one thing, I tried loading the template into my charts, works fine but The Red/Blue Moving Average in your charts is not in either of the templates you posted? Would you kindly be able to share that indicator and settings for that MA? would be useful on my chart to take trades with
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
Hello dear (short term)traders,
I have setup a nice template to trade along Woodies CCI on a MT4-platform,
but with a M3 (3 minute) time frame.
I trade only on ZLR's (Zero Line Reject)
For this, mostly an M1-TF is too short due to the spread, and an M5-TF is too slow for nice price action development.
So it is possible to setup your MT4 to custom time frames with the attached indicator. (see description)
_______________________________________________________________________________________________
Put this indicator (Both .mq4 and .ex4) into folder C:\Program Files\your-MetaTrader... \experts\indicators
After that start your MetaTrader, Attach this indicator to chart and give check the "Allow DLL imports".
Then set the period you want for example you want GBPUSD,M45 chart, attach this indicator to GBPUSD,M5 chart
and set the the PeriodMultiplier to 9 (because 5 X 9 = 45).
You can open your required chart from file menu => Open Offline, choose GBPUSD,M45 and click Open.
Your required chart (this example GBPUSD,M45) will be live like the others timeframe.
The converted source chart (this example GBPUSD,M5) must always located in the same Profile with your Offline chart,
and don't ever delete this indicator from the converted source chart (GBPUSD,5) in order that your required chart
(Offline Chart) always can move tick by tick (refresh themselves with every new tick).
_______________________________________________________________________________________________
So for novice traders I would recommend only to concentrate on these ZLR's.
On the attached chart you will notice a modified Weighted WCCI and a "Normal" WCCI indicator.
The firts one is to eliminate the "noise" and the second one is to trade on.
You will also notice a BB-indicator set at 12,2.
Here you can see when a trend is over.
This is when the price bars move away from the lower BB on a down trend or away from the upper BB on a up trend.
At that point you will see the BB-lines are going flat...too.
If one should only trade on these frequently ZLR's, you don't need no other moves to watch ! You just trade on retracements.
The last WCCI indicator shows you if you are in a down- or uptrend.
(red or green)
Wait for the first retracement...and be patient !
You can always refer to the Woodies site to learn more about it...
and you can contact me for more info too.
Nice trading,
Gilbert (Belgium)