Description

CCI Algo Expert Advisor:

Brief Introduction Of The Commodity Channel Index (CCI) .

The Commodity Channel Index​ (CCI) is a momentum-based indicator which helps to determine when an investment vehicle is reaching a condition of being overbought or oversold. It is an oscillator where there is no limit in the upside or downside. It measures the current price level relative to an average price level over a given period of time. CCI is relatively high when prices are far above their average. CCI is relatively low when prices are far below their average. Using this method, CCI can be used to identify overbought and oversold levels.

Functionality:

• When the CCI moves above +100, a new, strong uptrend is beginning, signaling a buy. Use trending indicators or other technical analysis methods to confirm signals indicated by the CCI.
• When the CCI moves below −100, a new, strong downtrend is beginning, signaling a sell. Close the position on CCI rising above −100. Use trending indicators or other technical analysis methods to confirm signals indicated by the CCI.

The CCI Algo EA: The BrainChild Of This Forex Expert Advisor.

The main idea behind the creation of this robot is to trade the divergence in market trends and continue following the momentum of the trends. The new version of this forex robot which the Moving average filter has been added makes it possible for the robot to execute only buy trades above the moving average and only sell trades bellow the moving aveage.

For Example, if the moving average filter is set at MA 100, the EA only executes buy trades when CCI crosses above the 100 level, and then exit thesame buy trade if CCI crosses bellow the -100 level. No Sell trade is executed above this level. This is known as the Buying Zone.

On the contrary, the selling zone is the area bellow the moving average say MA100 for instance where only sell trades are executed;  that is where CCI indicator crosses bellow the -100 level.

This is intended to follow the current market tends at all times while waiting to close all trades at a certain profit or loss percentage.

Why You Should Use The CCI Algo EA

1. The EA trades the market trend as begins and the trend is your friend
2. The EA can easily pinpoint reversals and execute trades based on it since CCI is an oscillator.

1. The EA executes the trades for you automatically

4. Avoids fear, panic and heart attack since risk is well defined

1. Auto stop loss and take profit
2. Trade multiple currency pairs
3. Dedicated Customer support

Limitations or Weaknesses of the EA

• Can make some minor losses on non-trending markets since the main aim for the EA is to hold ride the trend even if the signal is at overbought zone.
• Most forex traders use oscillators to only find oversold and overbought levels which often leads to loss of Capital if the trend keeps on moving.
• The Trader needs to adhere to proper risk management so as to maintain low drawdown.

The CCI Algo EA: Conclusion.

The CCI Algo EA is one of the best expert advisors in our shop as it takes both in to consideration swing trading and market divergence.  This EA easily exits its positions as market conditions changes.

Despite the fact that some minor loses can occur, the equity curve will always move upward from left to right indicating equity growth over time.

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