{"id":412323,"date":"2018-01-12T15:45:31","date_gmt":"2018-01-12T14:45:31","guid":{"rendered":"https:\/\/ftmo.com\/woodies-cci-system\/"},"modified":"2018-01-12T15:45:31","modified_gmt":"2018-01-12T14:45:31","slug":"woodies-cci-system","status":"publish","type":"post","link":"https:\/\/ftmo.com\/fr\/woodies-cci-system\/","title":{"rendered":"Trading the Woodies CCI System – COMPLETE Guide"},"content":{"rendered":"

In this new series we will focus on the popular Woodies CCI system. The system presented in this series will follow the rules set by Ken Wood and his followers.<\/p>\n

This series will cover the following chapters:<\/p>\n

    \n
  1. \u00a0Introduction to Woodies CCI<\/li>\n
  2. \u00a0Presentation of used indicators<\/li>\n
  3. \u00a0Trend signals<\/li>\n
  4. \u00a0Exit trade rules<\/li>\n
  5. \u00a0Counter-trend signals<\/li>\n
  6. \u00a0Conclusion<\/li>\n<\/ol>\n

    In this article we will cover the first two topics. Let’s get started.<\/p>\n

    Introduction to Woodies CCI<\/h3>\n

    The Woodies CCI system has been named after its founder, Ken Wood, who, thanks to the popularity of this system, has become one of the world’s most famous traders. The popularity of this system was mainly due to the fact that Ken Wood and his followers precisely defined the rules of the whole system. The trader therefore gets a complete system. After reading this manual, you’ll get exact rules for entering both trend and counter-trend signals. You’ll also get exit rules for trend and counter-trend signals, more importantly you will also get information when it is good to do not trade at all. The followers of Ken Wood have proven that the system can be traded in all markets and all time frames. Ken Wood has also set up his own site where he teaches the system. You can find this site here<\/a>. Ken Wood points out that without sufficient screen time, the trader will not be profitable. You need to get a feel for the system and especially a sense for the early recognition of the chop.<\/p>\n

    Presentation of indicators.<\/h3>\n

    The Woodies CCI system consists of several indicators, which can be downloaded for MT4 platform\u00a0here.<\/a><\/p>\n

    The heart of the entire system is the CCI (Commodity Channel Index) indicator created by Donald Lambert in 1980. The aim of the CCI indicator is to help trader to identify potential levels, where a new trend might start. In general, the CCI indicator compares the current price with the average price for the selected period. The value of the CCI indicator will be relatively high when the current price is high above its average price over a given period. Before we move on to the definition of indicators, we need to clarify the calculation of the CCI indicator. Thanks to the knowledge of the formula, we can get the feeling for this indicator faster, which we will use to identify the chop.<\/p>\n