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The CCI T3 Based fl indicator is a trading algorithm based on a modification of the standard CCI Forex indicator using additional smoothing of calculations due to other trading algorithms. Like the standard version, the CCI T3 Based fl indicator is used in trading to detect the presence of a trend, its strength and direction, as well as the opening of trades during this period. The indicator is presented in the lower window of the price chart in the form of several lines: the main and three signal lines that move in a certain direction relative to the signal level. Taking into account the values of the indicator, a certain trade can be opened.
The CCI T3 Based fl indicator is suitable for trading any currency pairs, on any timeframe.
Input parameters
There are several sections in the settings of the CCI T3 Based fl indicator, each of which affects the overall functioning of the indicator. The Input parameters section is responsible for its technical work, the Colors section is for changing visualization parameters, and the Levels section is for adding signal levels to the indicator window.
-CCI period - CCIindicator period. The default value is 32.
-Price - type of the price to which the indicator calculations are applied. By default, it has the Typical price value.
-T3 hot - T3 indicator hot value. Default value is 0.7.
-T3 type - type of smoothing applied. Default value is Fulks/Matulich way of calculation.
-Smoothing period - calculation smoothing period. The default value is 10.
-Smoothing T3 hot - type of smoothed T3 value. Default value is 0.7.
-Smoothing T3 type - the type of the smoothed T3 indicator. By default it is set to Fulks/Matulich way of calculation.
-Floating levels period - period of floating signal levels (lines) of the indicator. The default value is 32.
-Up level - period of the upper signal level in percent. The default value is 80.0.
-Down level % - period of the indicator's lower level in percent. The default value is 20.0.
Indicator signals
To open a certain trade using the CCI T3 Based fl indicator, first, it is needed to determine the presence of a trend in the market, as well as its direction and strength. To do this, the color of the main line of the indicator, its direction and location relative to its signal levels are taken into account. If the current trend is strong upward, long positions are opened, if the trend is downward, short positions are opened. At the moment of the change in the current trend, in both cases, trades are closed. In the absence of any trend in the current market, trades are not opened at all.
Signal for Buy trades:
- The indicator line has a color with a growth value and moves up, crossing the upper signal level.
Upon receipt of such conditions on a signal candle, a buy trade can be opened, due to the presence of a strong uptrend in the current market. At the moment of a change or weakening of the current trend, namely, upon receipt of reverse conditions from the indicator, the current trade should be closed and a new one should be considered.
Signal for Sell trades:
- The indicator line has a color with a growth value and moves down, crossing the lower signal level
A sell trade can be opened immediately upon receipt of such conditions that characterize the presence of a downtrend. If the current trend changes, namely when opposite conditions are received, the trade should be closed. At this moment, it can be considered opening new trades.
Conclusion
The CCI T3 Based fl indicator is a very effective trading algorithm, the calculations of which are based on the use of an indicator whose accuracy has been proven by time. Due to the modification of the standard Forex indicator, its signals have become clearer and more accurate. Before using the indicator on a real deposit, it is recommended to use a demo account.
