MT4 Indicator CCI Divergence
CCI Divergence Indicator generation III is modern indicator with complex mathematic algorithm (BJF Trading Group innovation). You will see divergenses on the chart and indicator. Arrows painted above/below the open bar and not in the past. You can see when actually you can trade. It is never to late! Signals based on closed bars so the arrows above/below open bar never disappear.
CCI Divergence MT4 Indicator shows fractal divergence by Commodity Channel Index standard MT4 indicator. When divergence arises between CCI indicator and the price it means forthcoming end of current trend. The signal to buy comes when new Low-fractal is below the previous one, and corresponding RSI meaning is above the previous one The signal to sell comes when new Up-fractal is above the previous one and the corresponding RSI meaning is below the previous one.
CCI description: CCI was developed by Donald Lambert, the Commodity Channel Index (CCI) was designed to identify cyclical turns in commodities. The assumption behind the indicator is that commodities (or stocks or bonds) move in cycles, with highs and lows coming at periodic intervals. Lambert recommended using 1/3 of a complete cycle (low to low or high to high) as a time frame for the CCI. (Note: Determination of the cycle's length is independent of the CCI.) If the cycle runs 60 days (a low about every 60 days), then a 20-day CCI would be recommended. For the purpose of this example, a 20-day CCI is used. The indicator has a lot of customizable settings.