Commodity Channel Index Oscillator (CCI) Download MT5 - Free [TFlab]

The Commodity Channel Index (CCI) Indicator for MetaTrader 5, developed and designed by Donald Lambert, is a popular technical analysis tool in financial markets, especially Forex and Stock.

The CCI Indicator measures the price deviation from its moving average, helping traders identify optimal entry and exit points and determine overbought and oversold conditions.

Indicator Specifications Table

Uptrend Condition

According to the 4-hour price chart of the NZD/USD currency pair, the blue "CCI" line typically breaks above the +100 level in an uptrend. Oscillations of the CCI line above the midline can signal the start of an uptrend.

Additionally, as long as the "CCI" line oscillates above the +50 level, it indicates the stability of the uptrend. If the price rises and the "CCI" index declines, this divergence warns of weakening upward momentum.

Downtrend Condition

According to the 1-hour price chart of the AUD/USD currency pair, the blue "CCI" line typically breaks below the -100 level for a downtrend to form.

Oscillations of the CCI line below the midline can signal the start of a downtrend. Additionally, as long as the "CCI" line oscillates below the -50 level, it indicates the stability of the downtrend.

If the price decreases and the "CCI" index rises, this divergence warns of weakening downward momentum.

Settings

• T CCI Period: The period for "Turbo CCI" is set to 7;
• CCI Period: The Commodity Channel Index (CCI) calculation period is set to 13;
• Over BS Level: The overbought and oversold level is set to 200;
• Trigger Level: The trigger level is set to 50;
• Weight: The overall calculation period is set to 1.

Conclusion

The Commodity Channel Index (CCI) Indicator is a highly effective tool for identifying trends and optimal entry and exit points in Meta Trader 5.

Calculating the difference between the average price and the Simple Moving Average (SMA) enables traders to identify overbought and oversold points.

Another feature of this indicator is analyzing the divergence between price fluctuations and the "CCI" line.