The system for trading on the Forex market “Double CCI and RSIOMA”

This system is designed mainly for scalping, i.e. short-term trading in the Forex market. This system uses graphs with time periods of 1 minute and 5 minutes. It is almost unknown to Russian-speaking traders, but it is well known on foreign forums. The main chart of the system has a well-known indicator Heiken Ashi, although slightly modified. He doesn’t paint the current bars, he paints his own. The bars are green when you go up and red when you go down. The exact name of the indicator is “Heiken Ashi smoothed”, i.e. “Smoothed”. The indicator “DoubleCCIWoody”, from which the system was named, shows the pulse and direction of movement. It combines two lines of CCI indicator with periods 14 and 6. Crossing of lines gives an input signal. Besides, the direction can be easily determined by the color of the bars of the indicator. Yellow is warning, red is down, green is up. The “RSIOMA” indicator uses two moving averages, calculates the RSI (relative strength index) of each and adds the moving average of the calculated RSI. In this case, two lines can accurately signal a trend change. They are displayed in a separate chart window and have values from 0 to 100. In addition, a histogram is displayed below the lines for a quick analysis of the situation. The “2MA crossover” indicator is used as an additional filter in the system. Purple and blue arrows indicate possible entry points. The SpudFibo indicator is used to determine the Take Profit levels, which automatically draws Fibonacci levels by the maximum and minimum of last day’s candlesticks.

Example of a purchase transaction on a 5-minute chart. First, the blue arrow of the “2MA crossover” indicator appeared, and in the “DoubleCCIWoody” indicator there was an intersection of the lines upwards and a green bar appeared. However, the purchase is made only after crossing the blue line of the indicator “RSIOMA” and the green bar of the indicator “Heiken Ashi smoothed” appears. In this case, it’s level 1.1390. According to the Take Profit system rules, the take-profit is 15 points or the nearest Fibonacci level. Given the spread, it’s level 1,1407. Stop-loss is set at 12 points. For a 1-minute chart, Take Profit and Stop Loss are set at 10 pips. For sales, the rules are similar but opposite. After the “2MA crossover” indicator purple arrow appears in the “DoubleCCIWoody” indicator, the lines should cross downwards and a red bar should appear. Sell is performed only after crossing the blue line of the indicator “RSIOMA” and the red bar of the indicator “Heiken Ashi smoothed” appears. Stop Loss and Take Profit levels are the same as for purchases. Download system files