The CCI Hook Reversal uses the Commodity Channel Index as a trigger when it hooks away from an extreme reading.
After the indicator pushes above +100 or below -100 it often snaps back quickly as momentum stalls.
Long trades occur when CCI turns up from oversold while price still prints a marginal new low.
Shorts are initiated when CCI rolls over from overbought with price poking to new highs.
Each trade carries a small fixed stop and is exited when the CCI hooks back in the opposite direction or the stop is reached.
Entry Criteria: indicator signal
Long/Short: Both
Exit Criteria: stop-loss or opposite signal
Stops: Yes, percent based
Default Values:
CandleType = 15 minute
StopLoss = 2%
[*]Filters:
Category: Reversal
Direction: Both
Indicators: CCI
Stops: Yes
Complexity: Intermediate
Timeframe: Intraday
Seasonality: No
Neural networks: No
Divergence: No
Risk level: Medium