FX Snipers T3 CCI Indicator for MT4

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FX Snipers T3 CCI Indicator for MT4

Introduction to the FX Snipers T3 CCI Indicator

The classic Commodity Channel Index was first developed by Donald Lambert, a technical trading analyst, who originally published the indicator in Commodities magazine. It was a very effective momentum-based technical indicator. The FX Snipers T3 CCI Indicator is an attempt to improve on the already very effective CCI Indicator.

What is the FX Snipers T3 CCI Indicator?

The FX Snipers T3 CCI Indicator is a momentum indicator which is based on the classic Commodity Channel Index (CCI). It is a modified version of the CCI which smoothens out the oscillations that the classic CCI plots.

This indicator is an oscillator which plots histogram bars connected by a line. Its bars and line oscillate on an open range with a midline at zero. This indicator plots positive green bars to indicate a bullish momentum and negative red bars to indicate a bearish momentum.

FX Snipers T3 CCI Indicator for MT4

This indicator can be used as a trend indicator based on whether the bars it plots are generally positive or negative.

It can be used as a mean reversal indicator based on reversals coming from an extremely high or low level.

It can also be used as a basis for trading reversal signals coming from divergences.

How the FX Snipers T3 CCI Indicator Works?

This indicator has a complex algorithm which modifies the basic calculation of the CCI. It uses the Typical Price as the starting point of its calculation. It then applies a smoothing factor on the calculation itself. The smoothing factor modifies the weight applied on each point of the CCI value causing the indicator to plot a smoother line. The resulting value is then used to plot the histogram bars as well as the points on the line.

How to use the FX Snipers T3 CCI Indicator for MT4

The FX Snipers T3 Indicator has three variables which can be modified within its settings.

How the FX Snipers T3 CCI Indicator Works

“CCI_Period” refers to the number of periods used to calculate the moving average within the base CCI formula.

“T3_Period” refers to the number of periods used on the smoothing of the CCI line.

“b” refers to the smoothing factor used on the indicator’s additional smoothing formula.

Buy Trade Setup

When to Enter?

Observe and identify a bullish divergence signal. Open a buy order if a bullish divergence is confirmed.

When to Exit?

Close the trade as soon as the oscillator line starts to slope down.

How to use the FX Snipers T3 CCI Indicator for MT4 - Buy Trade

Sell Trade Setup

When to Enter?

Observe and identify a bearish divergence signal. Open a sell order if a bearish divergence is confirmed.

When to Exit?

Close the trade as soon as the oscillator line starts to slope up.

How to use the FX Snipers T3 CCI Indicator for MT4 - Sell Trade

Conclusion

Trading a divergence based reversal signal is just one of the different ways this indicator can be used. It can also be used for trading momentum trades and mean reversals. Traders can simply add marker levels which they could use as a basis for identifying momentum and overbought or oversold markets. This indicator is a versatile oscillator which can be used for different trading applications.

MT4 Indicators – Download Instructions

FX Snipers T3 CCI Indicator for MT4 is a Metatrader 4 (MT4) indicator and the essence of this technical indicator is to transform the accumulated history data.

FX Snipers T3 CCI Indicator for MT4 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

Based on this information, traders can assume further price movement and adjust their strategy accordingly. Click here for MT4 Strategies

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How to install FX Snipers T3 CCI Indicator for MT4.mq4?

  • Download FX Snipers T3 CCI Indicator for MT4.mq4
  • Copy FX Snipers T3 CCI Indicator for MT4.mq4 to your Metatrader Directory / experts / indicators /
  • Start or restart your Metatrader 4 Client
  • Select Chart and Timeframe where you want to test your MT4 indicators
  • Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client
  • Right click on FX Snipers T3 CCI Indicator for MT4.mq4
  • Attach to a chart
  • Modify settings or press ok
  • Indicator FX Snipers T3 CCI Indicator for MT4.mq4 is available on your Chart

How to remove FX Snipers T3 CCI Indicator for MT4.mq4 from your Metatrader Chart?

  • Select the Chart where is the Indicator running in your Metatrader 4 Client
  • Right click into the Chart
  • “Indicators list”
  • Select the Indicator and delete

FX Snipers T3 CCI Indicator for MT4 (Free Download)

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