Introduction to the CCI RSI Index Indicator
The CCI RSI Index Indicator is, as the name suggests, a combination of Commodity Channel Index (CCI) and Relative Strength Index (RSI) into one forex indicator. Readings of that indicator are pretty intuitive. Green bars indicate a bullish trend-momentum, and similarly, red bars of the CCI RSI Index indicator reflect a bearish trend-momentum.
The CCI RSI Index Indicator fits all kinds of timeframes and currency pairs. It is displayed in a separate window placed just below the main trading chart. The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
Example trade with the CCI RSI Index Indicator
Below is the screenshot of an example trade with the CCI RSI Index Indicator.
As you can see, buy trade is triggered when the readings of the CCI RSI Index Indicator switch from red to green. In this case, the upward move was pretty sharp, but that’s not the rule. Sometimes it will take a few bars to move in the direction of the signal.
How to set up the CCI RSI Index indicator in MetaTrader (MT4)?
Download the CCI RSI Index.rar archive at the bottom of this post, unpack it, then copy and paste the CCI RSI Index.ex4 or CCI RSI Index.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The CCI RSI Index indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try.
Download Free Forex MT4 CCI RSI Index Indicator
To download the CCI RSI Index Indicator for Metatrader 4 (MT4) for free just click the button below: