Commodity Channel Index Oscillator (CCI) Download MT5 - Free [TFlab] - MetaTrader 5 Resources

The Commodity Channel Index (CCI) MetaTrader 5 indicator developed and designed by Donald Lambert is a popular technical analysis tool in financial markets, especially Forex market and Stock.

The CCI oscillator measures the deviation of price from its moving average, helping traders identify optimal entry and exit points and identify overbought and oversold conditions.

Indicator specification table

Indicator overview

The CCI oscillator helps predict potential trend changes by analyzing price fluctuations, the difference between price and the index, and considering potential reversal points.

It determines buy and sell positions by analyzing the highs and lows of CCI values. The Commodity Channel Index (CCI) indicator consists of lines such as the center line, the blue line representing "CCI" and the red line representing "CCI". Turbo CCI ", which has a shorter period than "CCI".

Uptrend Condition

According to the 4-hour price chart of the NZD/USD currency pair, the blue “CCI” line usually breaks above the +100 level during uptrends. CCI lines oscillating above the midline may signal the beginning of an uptrend.

Furthermore, as long as the “CCI” line oscillates above the +50 level, it indicates that the uptrend is stable. If price rises and the "CCI" index declines , this divergence warns of weakening upward momentum.

Downtrend Condition

According to the 1-hour price chart of the AUD/USD currency pair, the blue “CCI” line usually breaks below the -100 level, forming a downtrend.

CCI lines oscillating below the midline may signal the beginning of a period. downtrend . Furthermore, as long as the “CCI” line oscillates below the -50 level, it indicates that the downtrend is stable.

If the price falls while the “CCI” index rises, this divergence warns of weakening downward momentum.

Settings

• T CCI Period: The period of “Turbo CCI” is set to 7;
• CCI Period: The Commodity Channel Index (CCI) calculation period is set to 13;
• Over BS Level: The overbought and oversold level is set to 200;
• Trigger Level: The trigger level is set to 50;
• Weight: The total calculation period is set to 1.

Conclusion

The Commodity Channel Index (CCI) indicator is an efficient tool in Meta Trader 5 for identifying trends and the best entry and exit points.

Calculating the difference between the average price and the average simple moving average (SMA) allows traders to identify overbought and oversold points.

Another feature of this signal is that the forecast indicator is analyzing the divergence between price movements and the "CCI" line.