Woodies CCI - MetaTrader 5 Script - MQL5 #19912 - MT4/MT5 Resources
Woodies CCI is a momentum indicator developed by Ken Woods. It is based on the 14-period Commodity Channel Index (CCI). It is a completely unbounded oscillator with a base value of 0 and no lower or upper limit.
Some traders use this indicator to find some tradable CCI patterns, both with and against the trend, such as zero line rejection, reverse divergence, and trendline breakouts. The 200 level marks an extreme reading. This indicator is often used in conjunction with other signals.
Attachment download
📎 cci_woodies.mq5 (10.1 KB)
Source: MQL5 #19912
Woodies CCI - MetaTrader 5 Script - MQL5 #19912 Usage and Filtering Advice
Woodies CCI - MetaTrader 5 Script - MQL5 #19912 is a resource related to foreign exchange indicators. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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