Woodies CCI Charts

[bandlab2]

I will try to post some charts using Woodies CCI method. I am learning this method, will post the charts every day (not during market hours) and based on how it goes will start trading them

I will use NIFTY, BANKNIFTY, RELIANCE, SBIN on 5 min intraday

You can visit http://www.woodiescciclub.com/start.htm for more details on this

Entry : as per Zero Line Reject , Trend Line Break, Ghost
Exit : CCI crossover with TCCI , Extreme Hook

Will explain each of these entry methods with a chart in subsequent posts

Please do NOT trade these yet. Study them for a while, feel comfortable before putting real money

 

[bandlab2]

Zero Line Reject

Set up : CCI(14) and CCI(6).

CCI(14) should be above +100 and start going down and comes near to ZERO and then reverses and starts going up. when it starts reversing, thats where we will enter. opposite is true for shorts. reversal could be near to ZERO , upto +50 and -50. if you see a flat curve at ZERO and then a reversal then that is not counted as long as the flat curve lasts more than 6 bars

In the above chart you can see 5 ZLRs shown with red circle.

Zero Line Reject works on the principle, buy on declines and sell on rallies. ZERO line represents the equilibrium between bulls and bear.

 

[bandlab2]

Trend Line Break

Trend Line is drwan across the peaks, troughs of CCI curves. You can use both CC114, CCI6 for this. You need atleast 2 peaks to draw a trendline or 2 troughs. The TL can be horizontal, diagonal and span across prev day. When this TL is broken then you enter the trade. if TLB is above 0 then enter LONG or SHORT

 

[bandlab2]

Ghost

Ghost pattern is similar to head and shoulder. it will have 2 shoulders and a head. when it breaches the 2nd shoulder trough, then enter the trade. ghost can be in inverse direction also, that means shoulder, head, shoulder are upside down

in the chart first one is upside down ghost and we enter LONG when the trough is broken. if trogh coincides with ZERO line, that adds strength. Ghost can be diagonal also

 

[veekay304]

Good attempt.. best wishes..

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