How to set CCI indicator in mt4 chart - Forex Function
How to set CCI indicator in mt4 chart
Last Update: 20 February,2015
CCI (Commodity Channel Index) is a trading indicator which is used to find overbought and oversold area of the market price. (+100) and (-100) level has been used in this indicator. Above (+100) level, it indicates overbought of the market and below (-100) level, it indicates oversold of the market price. It also measures momentum of the market price.
In this tutorial, you will learn:
(1)how to set CCI indicator on your chart,
(2)how to customize its parameters,
(3)how to remove CCI indicator from mt4 chart.
How to set CCI indicator First open your mt4 platform and open any chart. Click on ”Insert”. Then click on ”Indicators” and then click on ”Oscillators”. You will see your desired CCI indicator. Then click on ”Commodity Channel Index” .
How to customize its parameter You will find new window to customize different parameters of cci indicator. In ”Parameters” tab, you will get ”Period” option. You can use default value 14 on ”Period” box. You can set ”Apply to” as ”Typical Price (HLC/3)”. Here you can change the color and width of CCI indicator.
In ”Levels” tab, you can add levels on CCI indicator. First you need to click on ”Add” and then you can put value on level. You need add (+100) and (-100) level on CCI. From this tab, you can change the color and style of level line.
How to remove CCI indicator from chart You can remove this CCI indicator from your mt4 chart. To remove this indicator, you need to move your mouse on the indicator and press on ”Right-button”. New window will be appeared on the chart. Then click ”Delete Indicator Window”. Thus CCI indicator will be disappear from the chart.
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