Description:
Meet the Sig_CCI indicator, a straightforward tool built on the classic Commodity Channel Index (CCI). This handy little indicator can help you spot trading opportunities with ease.
Here's how it works: when the CCI value crosses above 100, it's a signal to sell. Conversely, if it dips below -100, that's your cue to buy. Simple, right?
While it generates solid signals, keep in mind that not every trade will be a winner. To enhance your accuracy, consider adding some filters to sift through the noise.
When you get a signal, you can place an order with a stop loss (SL) set just 2-3 points above or below the highest or lowest price of the last two or three candlesticks. This approach helps manage your risk effectively.
As for your take profit (TP) targets, that's where your trading instincts come into play! Adjust them according to your strategy and risk appetite. Remember, trading is as much about psychology as it is about strategy!
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Editor's Note:
This content is a localized adaptation of the original Russian version. If you have any questions or feedback for the author, it’s best to reach out here.
If you find this indicator useful for your trading or educational needs, don’t forget to show your appreciation to the author!
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