semovente
17 posts
msg #93893
- Ignore semovente |
6/15/2010 9:20:02 PM
I came across an approach that uses of the CCI to indicate breakout possibilities and is explained here:
http://www.investopedia.com/articles/forex/08/CCI.asp
The long rules are as follows:
--On the daily or the hourly charts, place the CCI indicator with standard input of 20.
--Note the very last time the CCI registered a reading of greater than +100 before dropping back below the +100 zone.
--Take a measure of the peak CCI reading and record it.
--If CCI once again trades above the +100 and if its value exceeds the prior peak reading, go long at market at the close of the candle.
--Measure the low of the candle and use it as your stop.
--If the position moves in your favor by the amount of your original stop, sell half and move the stop to breakeven.
--Take profit on the rest of the trade when the position moves to two times your stop.
Anyone willing to turn this into a usable filter?
Thanks in advance,
.vp
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