The CCI Double Smoothed Wilders EMA fl-torus indicator for MT5
CCI Double Smoothed Wilders EMA fl-torus indicator, which can also be known as CCI std based, is used in trading to determine the current market trend, and then the optimal moment for opening positions. Thus, it can be said that its use is intended for the same purposes as its standard version, the CCI indicator. However, the new version of the indicator can be considered not only more accurate in calculations due to the use of an additional indicator in its composition, but also easier to use, for example, due to its visualization. Unlike the standard version, CCI std based is represented in the lower window of the price chart as several lines that change their direction depending on certain conditions, and one of them is the main one, which also changes its color.
The CCI std based indicator can be used in trading on any currency chart using any convenient timeframe.
The CCI std based indicator also differs from its standard version by having more input parameters, which allows fully adapting the indicator to own trading conditions. In addition, there are separate sections in the indicator settings that are responsible for the colors and thickness of its values, as well as adding special signal levels, in addition to the already added level 0.
- CCI Period - CCI indicator period. The default value is 50.
- Wilders EMA Period - the period of the moving average included in the indicator. The default value is 14.
- Price - price to which the indicator's calculations will be applied. Default value is Typical price.
- Period for finding floating levels - the period of the indicator that will be used to calculate floating levels. The default value is 25.
- Upper Level - period of the upper signal line of the indicator. The default value is 90.0%
- Lower Level - the value of the lower signal line of the indicator. The default value is 10.0%
- Color change on - parameter responsible for changing the color of the line at a certain moment. The default value is Change color on outer levels cross.
The CCI std based indicator can be used in trading for different purposes, but in order to determine the trend and then open any position during this period, it is needed to take into account only a few indicator conditions. Namely, the color of the main indicator line, its intersection with signal lines, the order of their location, as well as the general direction of all its lines in general and relative to level 0. And only if all trading conditions match on a certain candle, then a trade can be opened taking into account the value of the current trend.
Signal for Buy trades:
- The main line, colored in color with the growth value, crosses the signal lines and is located above them. In turn, the signal lines are arranged so that the top line is fast, behind it is medium, and bottom is slow.
- All indicator lines move up above their 0 level.
After receiving such conditions, an uptrend is determined in the market and a long position can be opened on a certain candle. It should be closed after the lines intersect again and change their direction. At this moment, the possibility of opening new positions in the direction with the current trend can be considered.
Signal for Sell trades:
- The indicator lines crossed so that the slow signal is above all, followed by the medium one, and after it is the fast one, and already below it is the main one, which is colored with a falling value.
- All indicator lines move from top to bottom and cross level 0.
After the appearance of such conditions, a short position may be opened, due to the presence of a downward trend in the market. Such a position should be closed after the indicator lines cross again and begin to reverse movement. At this moment, it can be considered opening new transactions.
CCI std based is a very smart and easy to use trading indicator that accurately reproduces the calculations that help determine the current trend and open a position in its direction. Despite the ease of use, it should not be neglected the practice on a demo account, which will allow getting all the necessary skills for trade.