While CCI trading I discovered and created a simple yet powerful indicator that is the best way to define the trend I have ever seen. 12 years of trading taught me that price action is everything and using an indicator to trade with the trend is very helpful.
Here is how it works. The green bars above or the red bars below the zero line are the True Trend and show if the current trend is up or down. Any reading of the true trend above the zero line is positive and means an uptrend in the market while any reading below the zero line negative or a downtrending market.
The thin blue line is called the EntryCCI. We use this to show when price is overbought or oversold against the trend. We are looking for the EntryCCI to be puled away opposite to the trend to have a setup and then wait for price to resume back toward the current trend.
http://clip2net.com/clip/m164735/thu...49c26-18kb.png
Here are the settings I use for these setups:
http://clip2net.com/clip/m164735/thu...38147-11kb.png
I am a firm believer of working together in order to help us all achieve our goals. I have also found that the more organized I am that the more focused I become. These scans of the market I do daily help me enormously and I will be sharing them with you all on this thread in video format. I will start off slowly so those following this thread can easily follow along.
Wednesday, January 23 (New York Session)
Here is how it works. The green bars above or the red bars below the zero line are the True Trend and show if the current trend is up or down. Any reading of the true trend above the zero line is positive and means an uptrend in the market while any reading below the zero line negative or a downtrending market.
The thin blue line is called the EntryCCI. We use this to show when price is overbought or oversold against the trend. We are looking for the EntryCCI to be puled away opposite to the trend to have a setup and then wait for price to resume back toward the current trend.
http://clip2net.com/clip/m164735/thu...49c26-18kb.png
Here are the settings I use for these setups:
http://clip2net.com/clip/m164735/thu...38147-11kb.png
I am a firm believer of working together in order to help us all achieve our goals. I have also found that the more organized I am that the more focused I become. These scans of the market I do daily help me enormously and I will be sharing them with you all on this thread in video format. I will start off slowly so those following this thread can easily follow along.
Wednesday, January 23 (New York Session)
Inserted Video
Attached File(s)
True_Trend_JCL.ex4
13 KB
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588 downloads
Price action strategy, good money management, and proper mindset