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i always admired the cci (woodie and drbob studies) however i am trying to simplify the entries and the exits signals. Also in needed to filter those signals.
i used the RSI Filter. i modified this filter to illustrate the shift in trend.
trend is up when cci50 >0 and strong upward when cci50 >100
trend is down when cci50<0 and very strong downward when cci<-100
comment pls.
i always admired the cci (woodie and drbob studies) however i am trying to simplify the entries and the exits signals. Also in needed to filter those signals.
i used the RSI Filter. i modified this filter to illustrate the shift in trend.
trend is up when cci50 >0 and strong upward when cci50 >100
trend is down when cci50<0 and very strong downward when cci<-100
comment pls.
This indicator is on a bar mode not a histogram or a line mode. How can I put levels -100, 0, and 100 on this indicator?
I am playing with three on three settings, +50,+100,+150 and when they all show same colour thats your entry etc. Also adding the CZI for added confirmation. These kind of indicators are easy to read so nice work.
Being able to overlay this as per FX Snipers sidewinder would be nice saving indicator and screen space, but i dont know how to do this. Having multiples of this kind of indicator in one window would be neat.
Lots of possibilities here for changing entry criteria, very long CCI's giving coloured bars on differing entries at differant levels etc. is very good.
dr bobs (50/14) setup suggests that you enter a position until a complete bar is completed. ( no a la woodie timing issue). Therefore it is essential to wait for a complete bar to be formed. On lower timeframes you are late when you wait for this to happen. I moved back to the 14/6 setup but still needed the trend direction confirmation from the cci50.
find an attached image of the setup.
My strategy is quite simple using three cci's. Entry is using a 150cci when it crosses a +50/-50 line. This CCI also gives the overall trend and signals are taken in its direction at other times . For other entries and re-entries other than the 150CCI cross,i use a 14 cci crossing the +50/-50 line and for further entries, whilst the 14 is above or below zeroline already, the 6cci including ZLR's-all taken in the direction of the 150CCi.
I am using a 5 min GBP/USD and all the cci's are overlaid, that is on top of one another in one indicator window. I have placed the CCI FIlter in the background to add further visual confirmation changing colour with the cross of the 150CCI when its above the +50/-50 entry line.
The length of CCI and entry techniques is a subjective one and i dont use much of Woodies stuff except really the ZLR using either 14 or 6 cci in the context of a longer CCI in this case the 150cci.
Its really quite simple and any length of CCI can be used whatever your preferences are and according to what you understand. All signals are taken in accordance with news events and important areas of support and resistance and are therefore discretionary as usual.
Are you waiting for the candle completion before doing a trade? I have seen many indicators similar to this, but only to get kill in some trades because of the sudden turn in price action [this happens in both news and non-news day]. Which TF do you recommend this strategy?
Hi,
Using 5 min timeframe as stated. As for candle completion, nope, i am not waiting for the candle to complete. Partly because the price will often have fallen through some support or resistance point or across one of my moving average levels at the time of the candle anyhow, thus confirming the trade is in progress. Hence, it is not necessary for the candle to complete.
Linear Mode
