Skip to content

Modified Commodity Channel Index Forex Indicator

    The CCI_ indicator for MetaTrader4 is a modified version that of the original “Commodity Channel Index”. The original creator of the indicator is Donald Lambert and he used it to gauge the difference between a currency’s mean price and the average of the mean price over a specified period.

    The CCI indicator can be used in determining overbought and oversold forex market conditions, along with the beginning and ending of cycles in the fx market.

    Free Download

    Download the “cci_.ex4” MT4 indicator

    Example Chart


    The CCI_ indicator is an “oscillator” due to the fluctuations that is seen in its values between “80” and “-80”. The CCI_ indicator has its lines drawn at “80” and “-80” warning signals values.

    When the values of the CCI_ indicator exceeds this boundary limits, traders interpret them as strong overbought conditions i.e. a bearish signal when above the “80” level, and if the CCI_ indicator curve falls below the “-80” level, the market is said to be in an oversold condition i.e. a bullish signal is in the making.

    When to Possibly Buy:

    Buy when the CCI_ indicator crosses below the -80 level and has shown that it is curving upwards.

    If there’s a bullish divergence between the CCI_ and the actual price action, depicted by upward move in the CCI as price of the pair continues to dip lower or sideways.

    When to Possibly Sell:

    Sell when the CCI_ breaks above the 80 and has started to dip downwards.

    If there’s a bearish divergence between the CCI and the real price movement, where the CCI_ is in a downward movement while the price of the forex pair is going higher or sideways, it is a signal for a buy.


    Download the “CCI_.ex4” MT4 indicator

    MT4 Indicator Characteristics

    Currency pairs: Any

    Platform: Metatrader 4

    Type: chart window indicator

    Customization options: Variable (Description1, InpScaleFactor, InpMaPeriod, InpVolatilityPeriod, Description2, InpCCIPeriod), Colors, width & Style.

    Time frames: Any

    Type: oscillator