GG RSI CCI Indicator
MT4Also Available for MT5GG RSI CCI Indicator For MT4 provides buy and sell forex trend trading signals based on RSI and CCI MetaTrader indicators.
Description
The GG RSI CCI indicator provides forex trend trading signals based on the combination of the classic RSI – Relative strength index and CCI – Commodity channel index. The indicator calculates a slow and fast moving average of the RSI and CCI indicators. However, it provides trading signals based on crossover of these moving averages. As a result, the trading signal of this indicator is a smooth trend following histogram.
The indicator shows the trading signals based on a simple histogram and is easy to interpret. So, the indicator is best suitable for new and advanced forex traders.
GG RSI CCI Indicator For MT4 Trading Signals
The above EURUSD H1 candlestick price chart shows the GG RSI CCI indicator in action. The indicator plots a three colored histogram a green histogram shows a bullish trend while the red histogram shows the bearish trend. However, the yellow histogram shows a neutral market trend.
The trading strategy is simple and straight forward if the histogram turns green it indicates the beginning of a bullish trend. So, traders should enter the markets with a buy trade with a stop loss below the previous swing low.
Similarly, if the histogram turns red traders should open a sell position with a stop loss above the previous swing high. Traders book profits if the histogram turns yellow or exit with a good risk reward ratio.
The indicator combines two indicators and is further smoothened by the combination of the moving averages to provide best trend trading signals.
Conclusion
The GG RSI CCI indicator for MT4 is a very simple trend following histogram. As a result, the trading signals are very helpful for trend following forex traders.
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