Introduction to the Swami CCI Indicator
The Swami CCI Indicator is an unique forex indicator based on the Commodity Channel Index (CCI). That forex gauge displays a white signal line on the background of the gradient fading green and pink bars. When the white line rises above 80 level and background bars are green – it means the market is considered overbought and one should look for a sell trade. Conversely, when the white line drops below 20 level and background bars are pink – it indicates an oversold market and one should look for a buy trade.
The Swami CCI 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.
How to set up the Swami CCI indicator in MetaTrader (MT4)?
Download the Swami CCI.rar archive at the bottom of this post, unpack it, then copy and paste the Swami CCI.ex4 or Swami CCI.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 Swami CCI 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 Swami CCI Indicator
To download the Swami CCI Indicator for Metatrader 4 (MT4) for free just click the button below: