Introduction to the BH CCI Alerts Indicator
The BH CCI Alerts indicator recognizes overbought/oversold market states based on Commodity Channel Index (CCI).
When such a state is recognized, the indicator marks candlesticks with blue or red rectangle.
In many cases it will be a reversal point, but you will need some filters to confirm that reversals.
It fits all kinds of timeframes and currency pairs.
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.
How to set up the BH CCI Alerts indicator in MT4?
Copy and paste the bh-cci-alerts-indicator.ex4 or bh-cci-alerts-indicator.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 BH CCI Alerts indicator is well worth adding to your trading collection but 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.
BH CCI Alerts Indicator Free Download
To download the BH CCI Alerts Indicator for Metatrader 4 (MT4) for free just click the button below: