CCI
with Support and resistance is
a reversal strategy. This trading system generates buy signal from
support and oversol zone and short signals from overbought zone.
Time
Frame 30 min or higher.
Currency
pairs:any.
Forex
Indicators:
CCI
period 21 (with levels 100, 0, -100).
Draw
support and resistance lines.
Trading
rules CCI with Support and Resistance Forex System
Buy
The price bounces on the support and the CCI is in the oversold area.
When the CCI to cross o level from lower to upper. place a buy orger.
The price bounces on the support and the CCI is in the oversold area.
When the CCI to cross o level from lower to upper. place a buy orger.
Place
initial stop loss 5 pips below the support.
Make
profit with ratio 1:13 stop loss.
Sell
The
price bounces on the resistance and the CCI is in the overbought
area.
When the CCI to cross o level from upper to lower place a sell orger.
When the CCI to cross o level from upper to lower place a sell orger.
Place
initial stop loss 5 pips above theresistance
Make
profit with ratio 1:13 stop loss.
In
charts below random examples.
Below
the link for download support and resistance indicator MT4
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