The CCI T3 Metatrader 5 Forex indicator is a basic Commodity Channel Index smoothed by the Tilson algorithm.
The indicator is known to deploy an efficient calculation style that takes advantage of the closing bar.
The CCI T3 MT5 forex indicator is a momentum-based tool that can help forex traders determine when a particular pair has reached overbought or oversold conditions.
Traders can apply the information gotten from this forex indicator to determine when to take profits or add to existing positions.
The EUR/CAD H4 chart below displays the CCI T3 Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the black line and lime histogram of the CCI T3 Metatrader 5 forex indicator break above the zero level.
Sell Signal: Go short when the black line and red histogram of the CCI T3 Metatrader 5 forex indicator break below the zero level.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the black line of the MT5 forex indicator dips below the zero level.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the black line of the Mt5 forex indicator surges above the zero level.
Tips: The CCI T3 forex indicator can be deployed as an integral part of an intraday/scalping trading strategy.
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (CCI_Period, CCI_Price_Type, T3_Period, Koeff_B), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: momentum oscillator
Copy and paste the cci_t3.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)