Momentum and trend traders consider positive figures as an indication of an uptrend and negative figures as an indication of a downtrend. The result are figures that typically fall within the range between +/-100 25% of the time.ĭifferent traders interpret the CCI differently. The difference is then adjusted for Mean Deviation. The Super Woodie CCI indicator is a trend indicator based on the Commodity Channel Index (CCI).ĬCI is basically computed by subtracting a Simple Moving Average (SMA) from the Typical Price. Blue bars placed above price candles indicate a bearish trend direction.
Red bars placed below price candles indicate a bullish trend direction. The bars change colors depending on the direction of the trend. It indicates the trend by overlaying bars on the price chart. Sadukey indicator is a momentum indicator which identifies short-term trend directions. Woodie CCI Trend Forex Day Trading Strategy is a trend following day trading strategy that provides trade signals based on short-term trends on the lower timeframes but are filtered based on a mid-term trend moving average.
Your best bet would be to trade on established trends that are aligned with higher timeframe trends. However, intraday trends could reverse any time based on intraday cycles. The lower timeframes could be trendy at times. Some even use trend following strategies exclusively. In fact, many successful traders who have earned millions day trading use this type of strategy. Trading on established trends is one of the staple types of strategies that day traders use.
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