Woodies CCI trading system

Discussion in 'Advanced Trading Strategies' started by kkeskar92, Jan 25, 2010.

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Is Woodies CCI a leading indicator?

  1. Yes, Woodies CCI is a leading indicator

    49.5%
  2. It is just a lagging indicator like any other technical indicator

    19.0%
  3. Dont know

    31.5%
  1. kkeskar92

    kkeskar92 Well-Known Member

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    This thread is dedicated to the CCI trading system as desribed by Woodies.
    The link to his system is www.woodiescciclub.com

    Many people modify the Woodies system to make their own and complicate the system.
    Woodies recommends

    • One indicator system i.e. CCI
      One timeframe to avoid confusion
      One or two trading patterns out of 8 patterns described by him
      3-5 min timeframe for futures and options
      Avoid watching/interpreting candelsticks since momentum preceds price

    Below is document describing classical woodies CCI system
    official woodies system

    Another document is here.

    Below are videos describing woodies CCI system.

    woodies lecture on CCI
    woodies lecture on stocks
    woodies lecture on options

    visit www.woodiescciclub.com for more videos.


    I will be posting more info about woodies CCI on this thread as I get time.
    More later.
















     
  2. kkeskar92

    kkeskar92 Well-Known Member

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    Here are some charts that demonstrate the woodies CCI system.

    I am using woodies CCI panel with following indicators:
    1.woodies 14 CCI and 6 turbo CCI with coloured histograms that show the trend
    2.chop zone indicator to show the prevailing trend
    3. sidewinder to show the strength of the trend
    4.LSMA or least square MA

    Pivot points which are used by Woodies too.

    The only thing I have added is double Bollinger bands which give me additional info about
    1. trending/ranging market
    2. volatility which are not avident on cci.


    Before entering the trade, I see
    1. trending/ ranging market from bollinger bands. Ref. Boris Schlossberg's book on TA
    2. Momentum from woodies CCI panel and his 8 pattterns
    3. volatility from Bollinger bands
    4.Intraday pivot points for targets
    5. previous day HLC as supports and resistance
    6. Index and general market conditions.

    I am using fxcentral charts which is metatrader 4 for Indian markets.

    [​IMG]

    [​IMG]





    I will be discussing woodies patterns with chart examples in next posts.
    Your opinions are welcome.
     
  3. Trader4242

    Trader4242 Active Member

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    Nice thread Keskar,

    Will look forward to it.

    Thats excellent advice by woddies, to start with just Focus On: One Indicator, One TF, One or two trading Patterns

    But nobody listens

    :)
     
  4. kkeskar92

    kkeskar92 Well-Known Member

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    Today I am posting woodies CCI panel for metatrader 4 which is provided by fxcentral charts...similar panel is available for esignal and amibroker too and can be searched in forum on woodiescciclub.com

    [​IMG]

    The clock on right hand side is meant for entry related to bar close.

    Woodies recommends entry after the cci signal with 20 seconds to bar close on a 3-5 min chart.
    Conservative entry is after full bar close.

    The panel is self-explanatory.
     
  5. kkeskar92

    kkeskar92 Well-Known Member

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    ZEROLINE REJECT

    ZLR is a with trend pattern by woodies.
    It is the most common pattern to trade with trend when we want to buy on the dips and sell on pullbacks.



    ZLR or zeroline reject

    1) Trend SHOULD BE in place. At least 6 bars or more.
    2) CCI above 100 during the trend.
    3) CCI dips below 100. Can go to ZL, even cross it.
    4) Chop zone is Blue or Brown for at least 3 points or more in the trend direction.
    5) Sidewinder is yellow or green.
    6) CCI points change between bars must be +15 to +20 (Green or Blue).
    7) CCI turns up and stays up with 20secs to bar close. This is the trigger.
    8) CCI bar must not close above 120. That would be chasing a trade.
    9) LSMA is NOT used


    Below is today's Nifty chart showing selling on pullbacks with a nice downtrend when the price is near the MA....cci shows exactly when to sell.


    [​IMG]
     
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  6. NFTRADER

    NFTRADER Member

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    I have woodies cci dvd set.
    If any body need them, please tell me.
    I can not post link here as it is against the traderji forum rules,
     

  7. gacsekar

    gacsekar Member

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    Yes I am interested.
    gacsekar
     
  8. akxsat

    akxsat Member

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    hi kkeskar92,

    good initiative friend, pls keep posting.

    linkdon already doing it,

    you people are really helping traders.

    Thanks,
    akx
     
    kkeskar92 likes this.
  9. kkeskar92

    kkeskar92 Well-Known Member

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    FAMIR PATTERN:

    Today we will see what to do when the zeroline reject fails.....just stop and reverse to open the trade in the opposite direction. You can see the Z-like pattern near the zeroline.

    conditions for famir pattern


    1) It is a FAILED ZLR.
    2) LSMA SHOULD BE green for upside FAMIR and red for downside FAMIR.
    3) The FAMIR SHOULD form between the +50 and -50 lines.
    4) Completion of the Z shape at 20secs to bar close is the trigger.
    5) CZI is NOT used.
    6) SI is NOT used.



    See todays chart of SBI where famir pattern appeared

    [​IMG]
     
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  10. linkon7

    linkon7 Well-Known Member

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    very nice initiative. please do keep up the good work...!
     
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