The Cci Histogram Forex Indicator is a Meta trader indicator used to detect the market trends on the histogram chart.It is a trend following indicator.It gives the market trends in a bullish trend, flat trend, and bearish trends.It is used to display CCI signals on the histogram chart.
Cci Histogram Forex Indicator
It represents a bullish trend when the market is trend above zero and it shows a bearish trend when the market is trending below the zero levels. It is a popular indicator of the Meta trader platform.The red color is used for the bearish trend, the blue color is used for the bullish trend, and the grey color is used for flat trends.
CHARACTERISTICS of Cci Histogram Forex Indicator: –
CCI histogram indicator has the following characteristics. It uses the ASC trend indicator as a collaborative tool. There is just 12% of your amount is on the risk. Numerous candlestick patterns and candle bars are utilized in this indicator. It uses approximately all the timeframes but the best timeframes for this indicator are 1 minute, 5 minutes, 15 minutes, 30 minutes, 1 Hour, 4 Hours, and 1 Day.
CCI histogram indicator can be utilized with all the trading sessions.It can be traded with all the currency pairs.Currency pairs used in this indicator are EUR/USD and USD/CHF, GBP/USD and USD/JPY, USD/CAD and AUD/USD, USD/JPY, and AUD/USD, and GBP/USD and USD/CHF. The following currencies are in opposite pair EUR/USD and AUD/USD, EUR/USD and NZD/USD, USDCHF and USD/JPY, AUD/USD, and NZD/USD.
CCI histogram indicator also uses specific rules to enter and exit strategy. The strategies to enter and exit are given below:-
BUY ENTER AND EXIT STRATEGIES: –
There are different rules for buy and sell entry. These rules are given below: –
- When a blue candlestick pattern is appearing in the market trend and an aqua upward-pointing arrow appears below the candlestick pattern then it is the time to place the buy entry for the available currency pair.
- When the blue line moves above the 0.00 level and the blue line is trending in the bullish trend in upward direction then the buy alert is important. Similarly, you can place the stop loss at that point to prevent the loss in the trade.
- When a magenta-colored arrow appears on the indicator chart and the arrow is pointing downward, it indicates the exit from the buy entry and also takes profits.
SELL ENTER AND EXIT STRATEGIES: –
There are different rules for buy and sell entry. These rules are given below: –
- When a red candlestick pattern is appearing in the market trend and amagenta downward-pointing arrow appears above the candlestick pattern then it is the time to place the sell entry for the available currency pair.
- When the red line moves below the 0.00 level and the red line is trending in the bearish trend in upward direction then the sell alert is important. Similarly, you can place a stop loss at that point to prevent the loss in the trade.
- When an aqua colored arrow appears on the indicator chart and the arrow is pointing upward, it indicates the exit from the sell entry and also takes profits.
USES OF Cci Histogram Forex Indicator: –
The CCI histogram indicator is used to detect the market trends and plots them on the histogram chart that helps the traders in easy understanding. It is very easy to uses this indicator. This indicator can trade with all the timeframes and currency pairs. This indicator is applicable for all the traders but it is more suitable for the beginners.
Cci Histogram Forex Indicator can help the traders to control the chances of loss in the trade and can help them to make a profitable and healthy trading life.
USES
• CCI histogram indicator is used to indicate strength trend in the trade.
• Its calculations are based on moving average price.
• It is used to differentiate between trending and non-trending conditions.
• It helps to identify profitable trade.
• From the rise and fall of lines in the CCI histogram indicator graph, the traders sense the price climax.
HOW TO INSTALL Cci Histogram Forex Indicator:
• First step: – Download the CCI histogram indicator for Meta Trader 4 plateform.
• Second step: -Copy CCI histogram indicator for Meta Trader 4. mql4 to your Meta trader Directory/experts/indicators/
• Start or restart your Meta trader 4 Client.
• Select Chart and Timeframe where you want to test your MT4 indicators.
• Search “Custom Indicators” in your Navigator mostly left in your Meta trader 4 Client.
• Right-click on CCI histogram indicator for Meta Trader 4.mq4.
• Attach to a Chart
• Modify settings or press ok
• In the end, the CCI histogram indicator for Meta Trader 4.mq4 is available on your Chart.
How to remove Cci Histogram Forex Indicator:
• First step: Select the Chart where is the Indicator running in your Meta Trader 4.
• Second Step: Right-click into the chart.
• Third step: Indicators list.
• At the last: Select the indicator and delete it.
These are simple and easy steps that you need to follow before starting trade because it gives you buy and sell zone indicator with almost 90% precision.
IMPORTANT
Ahead you are going to begin in real account trading you need to trade at the minimum for one month as a demo in any MT4 or MT5 brokers. It awards you more potential for getting quality payback in long or short term trading across also moving average.
