CCI Histogram indicator for MetaTrader 4 Download – [TradingFinder]

The CCI Histogram indicator is a modified Commodity Channel Index (CCI) Oscillator version. This MetaTrader 4 indicator detects price fluctuations and generates Buy and Sell signals in financial markets.

CCI Histogram Specification Table

The specifications of the CCI Histogram indicator are presented in the table below:

Uptrend Conditions

The following price chart shows the global gold price against the US dollar (XAUUSD) in a 1-hour timeframe.

When the orange histogram crosses below the -100 level and then rebounds upward, it indicates an oversold condition in the market, suggesting a potential start of an uptrend.

Therefore, a return above the -100 level can be considered a valid Buy signal.

Downtrend Conditions

The chart below displays the Nikkei 225 index in a 4-hour timeframe. When the blue histogram exceeds the +100 level and falls below it, the market becomes overbought, indicating a possible start of a downtrend.

Returning from the +100 level and a subsequent downward move can be considered a Sell signal.

Indicator Settings

Settings for theCCI Histogram in MetaTrader 4 indicator are as follows:

• Chart theme: Chart appearance style;
• Cci period: CCI calculation period;
• Neutral period: Neutral state duration;
• Lookback: Review past candles.

Conclusion

The CCI Histogram indicator is a powerful overbought and oversold indicator for identifying overbought and oversold conditions and reversal points in highly volatile markets.

It is especially effective in conditions with significant price changes.