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Recursive CCI Metatrader 5 Forex Indicator

    The Recursive CCI Metatrader 5 Forex indicator has the ability to compute the CCI or CCI or CCI….. way up to the 25th level.

    When using level 1, it offers the same results as seen on the regular CCI.

    Sequel to that is the CCI of CCI, which is computed and the sequence continues (where every step deploys the previous step CCI value rather than price – which implies calculating CCI of CCI rather than CCI of price).

    The levels on the Recursive CCI MT5 custom forex indicator are limited to 25 purely for practical purposes (where the CCI becomes unrecognizable following some levels, but this can be extended in the code to compute CCI to any level quickly).

    Free Download

    Download the “Recursive_CCI.ex5” MT5 indicator

    Example Chart

    The EUR/JPY H4 chart below displays the Recursive CCI Metatrader 5 forex indicator in action

    Basic Trading Signals

    Buy Signal: Go long if the filled or un-dotted line of the Recursive CCI MT5 indicator breaks above the zero level.

    Sell Signal: Go short if the filled or un-dotted line of the Recursive CCI Metatrader 5 forex indicator dips below the zero level.

    Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the line of the Recursive CCI MT5 custom fx indicator breaks below the zero level.

    Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the line of the Recursive CCI Metatrader 5 forex indicator surges above the zero level.

    Tips: When the un-dotted line of the Recursive CCI turns lime green or deep pink, it is a signal that suggests price is strongly bullish or bearish respectively.

    Download

    Download the “Recursive_CCI.ex5” Metatrader 5 indicator

    MT5 Indicator Characteristics

    Currency pairs: Any

    Platform: Metatrader 5

    Type: chart window indicator

    Customization options: Variable (Time frame, CCI calculating period, Price, CCI level, Price smoothing, Price smoothing method, Levels period (<0 no levels, 0 same as CCI period, Levels up level %, Levels down level %, Levels type, Color change on:, Turn alerts on?, Alert on current bar?, Display messages on alerts?, Play sound on alerts?, Send email on alerts?, Send push notification on alerts? Interpolate in multi time frame mode?), Colors, width & Style.

    Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

    Type: oscillator

    Installation

    Copy and paste the Recursive_CCI.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)