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CCI superstar – FOREX strategy

by TFK1: CCI based forex strategy, employing the indicator as a trend filter. Entry signal is based on popular candle formation – morning/evening star. Strategy can be applied across all currency pairs and timeframes. I prefer to use it 15 min chart, due to high frequency of trading signal.

Used forex indicators

CCI (commodity channel index) 60. Indicator is used as trend filter. Values above 0 indicate uptrend (upwards momentum). Values below zero will indicate downtrend (downward momentum). This is on of the basic methods of trend identification. It works well.

Forex strategy rules

BUY

Our trend filter CCI will be moving above its 0 line. Strongly suggesting that uptrend, or at least upward momentum is present in the market. That gives us best chances with our signal: morning star formation.

Morning star - three candle formation. 1.: Bearish candle. 2.: Flat bullish or bearish candle. 3.: Strong bullish candle closing above the high of first candle. We enter the trade on third candle close, placing stop loss below the low of the formation.

Take profit: Distance equal to signal formation size.

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SELL

Our trend filter CCI will be moving below its 0 line. Strongly suggesting that downtrend, or at least downward momentum is present in the market. That gives us best chances with our signal: evening formation.

Evening star - three candle formation. 1.: bullish candle. 2.:Flat bullish or bearish candle.3.: Strong bearish candle closing below the low of first candle. We enter the trade on third candle close, placing stop loss above the high of the formation.

Take profit: Distance equal to signal formation size.

ABOUT US

THEFOREXKINGS

“Trading FOREX since 2006. Full time trader and web developer since 2013. My two biggest hobbies are trading and web development. In TheForexKings I managed to connect both of them. Even after 12 years of trading I still have the same passion for the market as at the beginning. The aspect I enjoy the most : development and testing of new ideas.” 

 

Only in 2016 - 2017 we have created more than 400 forex strategies. During this period we have also developed and published +200 MT4 Expert advisors based on those strategies. We are dedicated to provide you with viable and complete trading systems that have thrived in extensive historical testing. We want to give you complete and transparent trading solutions, that once mastered ,will set you financially free. We want to give you a fighting and winning chance in the market. ” 

—  Marian, Proprietor of TheForexkings.com

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