This forex strategy pursues price breakout that occurs on envelopes indicator. Envelopes are marking average high and low of the price. When price escapes those boundaries, it often times signalizes breakout or growing price momentum in the direction of trend. Breakout of envelopes lines alone is a good entry signal (with right money management).
Additionally, CCI forex indicator is used not to identify overbought/oversold zones, but to also signalize/confirm momentum. This Forex system tends to catch significant market movements that are usually too sudden and fast to be entered with other forex strategies.

Used forex indicators:
CCI (commodity channel index) period 21
SMA (smoothed moving average) period 200
Envelopes (default MT 4 settings)
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Forex strategy rules
First thing we need to do is to plot SMA into our forex chart. It should be one of the major pairs in 15 min timeframe. It is also possible to use higher timeframes up to a one day.
Trend will be identified by comparing envelopes (faster period) to slower period SMA. In uptrend envelopes will trend above SMA. In downtrend they will trend below SMA. We will enter only trend following trades.
SELL:

Envelopes forex indicator is trending below SMA – downtrend. While both envelopes lines remain under SMA we will enter only trend following - short trades.
Entry: CCI 21 falls below -100 line. This will signalize that selling that came into the market and its likely to continue to drive the price downwards.
After we confirm that CCI has fallen below -100 line, we wait for bearish candle to clearly close below red envelopes line. We enter immediately on candle close. Stop loss is placed above the entry candle high, just after we enter the position.
Take profit: To exit our winning position, we wait for price to return within Envelopes tunnel and touch upper (blue) envelopes line.
BUY:

Envelopes forex indicator is trending above SMA – uptrend. While both envelopes lines remain above SMA we will enter only trend following - long trades.
Entry: CCI 21 rises above 100 line. This will signalize that buying that came into the market and its likely to continue to drive the price upwards.
After we confirm that CCI has risen above 100 line, we wait for bullish candle to clearly close above blue envelopes line. We enter immediately on candle close. Stop loss is placed below the entry candle low, just after we enter the position.
Take profit: To exit our winning position, we wait for price to return within Envelopes tunnel and touch bottom (red) envelopes line.
Notes: After our winning position reaches significant profit, experience can help us to predict swing reversal and exit position before it touches envelopes line. By using this approach we can increase our risk reward ratio and gain couple more pips from every winner.