The CCI Dots Metatrader 5 forex indicator is designed in a way that adds buy and sell signal pointers to the activity chart, at the instance where the CCI indicator crosses its zero line.
If the CCI intersects the zero line upwards, a blue dot is attached below the price bars, if the CCI intersects the zero line downward, a red dot is attached above the price bars.
There are three input parameters that are offered on the CCI_Dots MT5 custom indicator:
- CCI period – defines the CCI indicator period calculation;
- CCI applied price – defines the price used for CCI calculation;
- MA period – defines the period of the moving average for the calculation of the distance from the candlestick’s High or Low to inserting signal pointers.
The EUR/CHF H1 chart below displays the CCI Dots Metatrader 5 forex indicator in action
Basic Trading Signals
Buy Signal: Go long when the blue pointer of the CCI_Dots Metatrader 5 indicator gets aligned below price bars.
Sell Signal: Go short when the red pointer of the CCI_Dots MT5 indicator gets aligned above price bars.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, a red pointer of the CCI_Dots Metatrader 5 forex indicator pops up above the candlesticks.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, a blue pointer of the CCI_Dots MT5 indicator pops up below the candlesticks.
Tips: Tweaking the CCI and MA period found on the inputs parameter will allow you get a more setting that fits your trading.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart pattern indicator
Customization options: Variable (CCI period, CCI applied price, MA period), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the CCI_Dots.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)