CCI vs Chart SR Levels - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources
The idea of this indicator is very simple: many times we use certain indicator levels as signals to reach a certain desired level, and the price change will be used as the entry or exit price for our orders/positions. That's okay, but many times we compare prices just visually. This indicator is a "helper". What it does:
In fact, this indicator is mainly used for manual trading.
Same as any CCI.
The "big picture" example shows in a clearer way how the indicator works and what it shows us on the chart
Attachment download
📎 cci_lsr4.mq5 (15.27 KB)
Source: MQL5 #24183
CCI and Chart SR Level - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
CCI and Chart SR Level - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. 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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