Woodies CCI trading system

[linkon7]

Yes, I agree and based on the half knowledge about the system. I agree with you. I too still want to learn this system. there are some money management lessons worth following.

Well, I am still on it and lets see how things come up.

Thanks

NT

Rest assured, no system works...as per expectations...!

but then, know what to expect from a system...and then you'll have the eureka moment and the same system turns out to be the best in the world...!

 

[linkon7]

Dear Linkon

If you could spare some time then would request you to touch upon the various aspects on the Woodies CCI Panel AFL that you use just to co-relate the same with the original cci panel that is recommended by Woodies.

I have downloaded your afl and am trying to co-relate the same with the videos and the other stuff that i have read on the woodiescciclub.

Also, I am not getting the time left properly on my panel in RT - what do i need to edit in the AFL for the same.

Do i need to edit the market timings etc in the AFL or some settings in Amibroker itself.

Also, the difference in CCI is not getting plotted on the panel as per your post.

Is the color codes on the SI, ZL & CZI the same in the AFL or are they represented differently in this AFL vis-a-vis that mentioned by Woodies.

How do i use or interpret the EMA and LSMA angles etc.

Lastly, how reliable are the patterns that are automatically plotted by this afl and when should one take action on it as in rt there are chances that the patterns may vanish as the bar progresses in either direction.

I hope i have been able to clearly express my queries.

The basic objective of knowing the above is purely to follow all the nuances as is recommended by Woodie.

Thanks in advance
God Bless
Regards
Floyd

I keep changing my afl colors to keep it in sync with my personal color preferences... so please do refer to the original and check what changes i made...

the timer should work fine... unless u have selected range bars..which is independent of time and will not work...

please download the 12 K plus collection i posted in the afl section.. i'm sure that "difference in cci" afl is there somewhere...

EMA angle is important to me as any angle less than 30 degrees has to be bottom fished... if its greater than 45 degrees, then waiting for retracement is more ideal way to approach

LSMA angle doesnt matter. what matters is that LSMA should support when u want to take a counter trend trade...

reliability of the patterns depend on the timeframe u select... lower TF will give more trades, but with low strike rate... higher tf... will give better results...

as for the signals plotted on the system automatically... i have removed it all in the one that i use... they are just a distraction... and most of the time... causes whipsaws... i prefer using higher time frame to select the direction and use lower tf for entry and exit...

woodies way of trading is pure mechanical and is bound to give good results.... I prefer using my own head and so i have adapted the system as just another of my indicators who has its limitations and strength and i trade it accordingly...

 

[niftytrader99]

linkon,

What is your feedback about this system, what time frame did u use ? I tried 5min but that seems to be very slow 2 min is very fast.. I am planning to try 3mins and see how it looks. any advice from you on this system ?

Thanks,
NT

 

[linkon7]

linkon,

What is your feedback about this system, what time frame did u use ? I tried 5min but that seems to be very slow 2 min is very fast.. I am planning to try 3mins and see how it looks. any advice from you on this system ?

Thanks,
NT

i use a combination of many systems. I prefer to take risk and normally i will try to short near the top and buy near the bottom. I am not good at riding the trend and to make it easier for myself, prefer exiting 50% with some profit, so that the whole trade can be carried without any fear of losses...

CCI & RSI forms a vital part of my complex system. I look at 15 min and hourly tf for direction and use 2 min or 3R or 5R or 5 min to size my positions.

Woodies system is good for trending market and is the best for buying retracements. The CZI and SW are useless to me as i have indicators that do a better job and are removed from my screen. Ghost and GB100 remains my favorite pattern. LSMA is a must for contra trades. the difference in cci is a very good momentum indicator and i plot that separately...

I think cci and double BB complimented each other very well... specially if u plan to trade 5 min tf... If it is range bound then i prefer using 5R or 3R to time my entry...

 

[kkeskar92]

Hello
I have been using woodies CCI system for about a year now. 3 min works best for Nifty during initial 3 hrs when Nifty usually is ranging and after 12 pm when europe opens , Nifty finds a definite direction, trend well and gives good signals.
To make it better, I have been using T3 adaptive CCI to smoothen it out a bit. I am now experimenting with range bars with woodies CCI as pointed out by Linkon and another members here. There is a range bar indicator for metatrader to remove time from the charts and am demo trading range bars with woodies CCI on dow or other indices....will use for Nifty soon.

Here is a pic of woodies CCI with range bars on dow jones.

 

[kkeskar92]

Check out this blog of a trader who uses range bars with woodies CCI with very good results.

check here.

 

[fjl24]

Hi kkeskar

How much importance have you given to the SI and the CZI.

Based on your past experiences with Woodies CCI do you feel ignoring SI and CZI would not have any drastic impact on the trades we take irrespective of the tf we trade.

I have been studying various indicators i.e. MACD, RSI, Stocastic's etc. over the last couple of months but based on whatever little exposure that i had on the CCI and Woodies method of trading so far i am quite excited with the same.

Unlike all of you who would be trading it on a lower tf like 3-5 minutes i intend to use it for swing and positional trades to begin with and would later on be applying the same concepts to lower tf.

I do understand the implications of this decision of mine on the SL values but the same would be mitigated through money management concepts.

In a video of Woodies i heard him mentioning that some 17 odd softwares officially use his cci so was interested to know whether MT4 is one amongst those 17 odd softwares.

Also, would appreciate if you could share the weblink leading to the section that caters to the Indian Markets in MT4 as am quite inquisitve about it especially from the coverage of the indian markets and the nature of data that is available through MT4.

Another reason why i am interested in MT4 is from an interactive broking point of view for trading forex in the future directly through MT4 software if the same is possible i.e.

Thanks in advance
God Bless
Regards
Floyd

Hello
I have been using woodies CCI system for about a year now. 3 min works best for Nifty during initial 3 hrs when Nifty usually is ranging and after 12 pm when europe opens , Nifty finds a definite direction, trend well and gives good signals.
To make it better, I have been using T3 adaptive CCI to smoothen it out a bit. I am now experimenting with range bars with woodies CCI as pointed out by Linkon and another members here. There is a range bar indicator for metatrader to remove time from the charts and am demo trading range bars with woodies CCI on dow or other indices....will use for Nifty soon.

 

[kkeskar92]

Hi
SI and CZI are important for ZLR trades and there is a video on wooidesclub on how to use these indicators.If they do not confirm, I take a small position for ZLR and if trade turns in my favour, add to exising position.

There are many versions of woodies CCI for mt4,use the one that suits you. woodies heart panel is the best panel for woodies CCI for mt4 but eats up more memory.

The MT4 for NSE and commodities is provided by fxcentral --the link is at no 12 post here.

 

[kpmfazal]

This is one AFL i got it from WoodiesClub , this AFL programmed to give some good signals , but yet manual confirmation is needed. It includes some good parameter selection for exits.

Try it Amibroker users

 

[Blaiserboy]

Check out this blog of a trader who uses range bars with woodies CCI with very good results.

check here.

Do you think you will start to use the range bars...... any comments.?