Introduction to the Zee Zee Alert Indicator
The Zee Zee Alert indicator is based on Commodity Channel Index (CCI) swing trading tool. It recognizes the overbought/oversold states of the market.
There is also a crossover signal system for filtering its own trade signals.
The indicator is displayed in a separate window placed just below the main trading chart.
It fits all kinds of timeframes and currency pairs, but suggest trading on M5 and M15.
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 does it work? How to apply in trading?
Trading Rules Explanation
Signals provided by the Zee Zee Alert Indicator may look complex at first glance, but simply follow the suggestions below.
Buy Entry: Open long trade when the SigCCI reaches -200 level. Next, the yellow dotted line should cross above the violet dotted line. Place your stop loss a few pips below the last swing low.
Sell Entry: Open short trade when the SigCCI reaches 200 level. Next, the yellow dotted line should cross below the violet dotted line. Place your stop loss a few pips below the last swing high.
Exit Trade / Take Profit: Close your open position when the SigCCI reaches the opposite 200/-200 level.
As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology. It is crucial to know when to trade, but also when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, beyond major sessions, exotic currency pairs, wider spread, etc.
Example of GBP/USD H1 Chart
This screenshot below shows an example of the Zee Zee Alert Indicator in action.
How to set up the Zee Zee Alert indicator in MT4?
Copy and paste the zee-zee-alert-indicator.ex4 or zee-zee-alert-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 Zee Zee Alert 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 signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Zee Zee Alert Indicator Free Download
To download the Zee Zee Alert Indicator for Metatrader 4 (MT4) for free just click the button below: