Forex 5 min Scalping using Commodity Channel Index (CCI)

Forex 5 min Scalping using Commodity Channel Index (CCI)
Rules of Entry:
Find a good up trend or Downtrend
Watch the CCI until it is diving from top or bottom towards 0 line
Make a 3 or 4 lot size
get out after 6 to 8 pips.

CCI : Commodity Channel Index (CCI)
Developed by Donald Lambert and featured in Commodities magazine in 1980, the Commodity Channel Index (CCI) is a versatile indicator that can be used to identify a new trend or warn of extreme conditions. Lambert originally developed CCI to identify cyclical turns in commodities, but the indicator can successfully applied to indices, ETFs, stocks and other securities. In general, CCI measures the current price level relative to an average price level over a given period of time. CCI is relatively high when prices are far above their average. CCI is relatively low when prices are far below their average. In this manner, CCI can be used to identify overbought and oversold levels.

Ephixa & Jim Yosef – Everlasting [NCS Release]

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