Myfxpaddy CCI Arrow Indicator

Myfxpaddy CCI Arrow MetaTrader indicator shows where the CCI crosses the zero line, marking it with a red or blue arrow to help you decide whether to go short or long. It has minimal lag and relatively high accuracy. This simple indicator is ideal for traders who prefer to keep it straightforward and avoid complex indicators. myfxpaddy CCI Arrow supports all types of alerts and is available for both MT4 and MT5.

Input Parameters

• CCI_Period (default = 14): The period of the CCI used in this indicator. A higher value results in more lag but fewer false signals.

• EnableNativeAlerts (default = false): If true, MetaTrader’s native pop-up alerts are used when an arrow appears.

• EnableEmailAlerts (default = false): If true, MetaTrader’s email alerts are sent when an arrow appears. Email should be properly configured in MetaTrader via Tools -> Options -> Email.

• EnablePushAlerts (default = false): If true, MetaTrader’s push notification alerts are sent to your device when an arrow appears. Notifications should be properly configured in MetaTrader via Tools -> Options -> Notifications.

• TriggerCandle (default = Previous): The candle to issue alerts on: Previous — the most recently closed candle or Current — the yet unfinished candle.

Example and Strategy

This indicator provides direct signals for buy (blue arrow pointing up) and sell (red arrow pointing down). However, do NOT enter the trade if the signal contradicts the current general trend. If it is an uptrend and you get a blue arrow, go long; if you get a red arrow, do nothing (just close your long position if you had one open). If it is a downtrend and you get a blue arrow, close the short position but don’t go long; if you get a red arrow, go short. If the chart goes sideways and you get a blue or red arrow, feel free to go long or short, respectively.

It is recommended to set your stop-loss directly at the level where the arrow is drawn (displayed when you point your mouse at it). Using a trailing stop with this indicator is also advised.

Original build credits to: earnforex, indicator revamped and improved by myfxxpaddy.