CC I Candles of Averages
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use CC I Candles of Averages
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
CCI indicator made as candles.
Four different CCIs are calculated:
CCI of smoothed High
CCI of smoothed Low
CCI of smoothed Open
CCI of smoothed Close
Those 4 values are then combined into a "candles" display of CCI. It can be used as usual CCI (using some significant levels) or you can check when the zero line is crossed by the candles in order to check for trend change signal.
Using the prices smoothing makes the CCI values significantly smoother. If, by any case, you wish to turn the prices smoothing off, simply set the smoothing period to less than or equal to 1.
