Woodies CCI Method

[gopala]

Hi Guys,

 

I thought I would start a new thread just for chatting about this incredible trading system.

 

What amazes me is that Ken Wood (Woodie) has been successfully trading this system for well over 25 years now (his dvd says 32 years of trading, but from what I can make out it took him 10 years to refine and develop this amazing system)

 

One thing clearly sticks out and that is Meta trader 4 traders have never really adopted this system as getting it setup on the MT4 platform is a bitch!!!.

It took me some time today to test and compare the indicators that I manage to get hold off with those on Woodies DVD.

 

What I have come up with is hopefully a very close approximation to the true Woodies system.

 

Some background on my research

=========================

There were 2 main developers over at Forex-TSD that actually took up the challenge of creating the MT4 equivalent indicators.

- FX_Sniper

- LinuxUser

 

Both started at different times and took different directions. FX_Sniper focused only on the Woodies Sidewinder indicator and the Woodies Chop zone indicator, whilst LinuxUser focused just on getting the Woodies CCI correct.

 

Linux User eventually on release 6 managed to get what was hopefully a 100% duplicate.

 

FX_Sniper started his development on the 11th August 2006 and

LinuxUser started his development on the 6th March 2007

FX_Sniper actually got hold Ken Wood directly and was allowed to use Woodies propitiatory code to create the SideWinder indicator for MT4. However nothing was mentioned about the chopzone indicator, so no idea if he used his own logic for this.

FX_Sniper towards the end of August 2006 started feeling the pressure and had a blow-out with another member ValeoFX (really just a stupid misunderstanding). FX_Sniper then ended everything on the 17th of August 2006, and that was the last anyone ever saw any updates to SideWinder and ChopZone.

LinuxUser's last update to his WoodiesCCI indictor was on 2nd August 2007. (so took him roughly 5/6 months to get this right.) However his thread is still active but there have been no new posts from him for quite some time.

Then on the 23rd of Feb 2010 a new user Rishnandar, posted an updated version of LinuxUser last release. This version seems to be the best one at the moment. Rishnandar added the following much needed features:

 

1. Time before the candle close with option to activate the alarm box

2. Current Time and date

3. Notification when the CCI peak to 200 or -200 to prepare for pattern HFE (Hook from Extreme).

4. By default, showing level -50 and 50 for ZLR (Zero Line Reject) strategy

Now for the interresting bits:

FX_Sniper built in experiation code to his Chopzone indicator, which if you try it now will not work. However he never did the same for the SideWinder indicator which still works even to this day.

 

There are 2 parallel indicators that almost draw the same as FX_Snipers Chopzone indicator. Of these 2 indicators I cannot make out which one works better, but they are very very close to each other.

 

I am attaching to this post a set of indicators that I feel comprise and make up the Woodies CCI system for Metatrader 4.

 

I do however believe that Woodies site contains a forum that may have further discussions on this topic with regards to MT4, but for the last 3 days I have not been able to get in as it appears to have crashed... (keep getting MYSQL database errors on the webpage..)

 

I really hope that one day someone can get this right for MT4/MT5.... as I really do not want to fork out $$$ for another trading platform....

The Installation

============

Some explanation on what you will need to do before applying these indicators.

 

- Step 1: Create your Range Bars

This can be achieved by either using the script located in the script folder of

zip file called s-Constant Range Bars.ex4 (Posted by Joy22, big thanks)

or

You can use the indicator located in the indicators folder called

RangeBarChart_v103a.ex4

 

I stumble onto the "RangeBarChart_v103a.ex4" indicator as there was

heated debate between the two authors who created both the Range Bar

indicators over at Forex-TSD. s-Constant Range Bars.ex4 sells for 60 Euros

from MQLService dot com and has not been updated since 2008.

RangeBarChart_v103a.ex4 was created by "The Forex Strategy dot com" and

has been updated very recently to version 2. (which i was not able to locate

and include)

 

I beleive that his version 2 is highly optimized and sorts out some "tick

issues". I may even purcahase it as he is only charging $30 for it and it has

been receiving some very good reviews at Forex-TSD.

 

Here is a video link on how to apply this indicator to your charts to get

Range Bars

http://www.the-forex-strategy.com/index.php/mt4-rangebars-plugin

For my Range bar period I chose a 3 mins timeframe, but you can use any

timeframe you want so long as it's not one of the predefined MT4 timeframes

i.e. 1M, 5M, 15M, 30M, 60M etc..)

 

-Step 2: Apply the SideWinder indicator to the new Range Bar Chart

 

-Step 3: Apply the "Woodie_CCI_Adv.1.0.ex4" indicator (Woodies CCI periods

are defined as 14 for the normal and TCCI is 6 (TCCI = Turbo CCI).

By the way a 14 period is used for any timeframe below and including

60mins, anything higher you have to set it to 20)

 

- Step 4: Apply one of the CZI indicators (like I said they are both very close

in their outputs.)

And Finally:

Remember that the key to Woodies system is this indicator, he encourages you to make this indicator as large as possible and make the Price action bars small, the focus is the CCI indicator, and not the Price Action bars...

 

My intent for this thread is to see if we can get this system pumping the profits it is claimed to produce. Last week when I "thought" I was using Woodies methods, I was wrong as I did not have range bars, so even though I found it quite profitable, it apparantley can do better

 

ps: The reason why I was able to successfully trade last week, is that all I had was a Woodies CCI indicator that I found on Forex-TSD sometime ago, after going back their now, I see the author coded it to work with the normal time price action bars, but he did say that it would never be as profitable and as correct than if it were using range bars.)

 

I have also included in this zip pack, one of FX_Snipers LSMA indicators. I am still trying to figure out where this one goes and why? Could not find any mention of it on Woodies site, but I just included it as most of the guys at Forex-TSD where talking about it...)

 

Here are the links to the 3 developers threads at Forex-TSD

http://www.forex-tsd.com/indicators-metatrader-4/6315-cci-woodie-like.html

http://www.forex-tsd.com/indicators-metatrader-4/3244-sidewinder-cci-my-first-release.

http://www.forex-tsd.com/indicators-metatrader-4/3244-sidewinder-cci-my-first-release.html in 17second.

And then if anyone is interested here is the link to what appears to be the best Range Bar indicator for MT4 (costs $30)

http://www.the-forex-strategy.com/index.php/mt4-rangebars-plugin

Almost forgot, here are the documents for how to trade the Woodie CCI system

http://hotfile.com/dl/88828093/3468d27/Woodies_CCI_Trading_Manual.zip.html

And last but not least:

http://www.woodiescciclub.com/start.htm

Anyway I hope that someone finds this information useful and also wants to learn how to trade the Woodies CCI system on the Metatrader platform.

Cheers StaticX's Woodies CCI system indicator pack.zip

http://www.megaupload.com/?d=DDY9M0PI

[waldorfxt]

looks very good, am already using range bars instead of time charts and find that ma's and other indicators are much more cleaner and reliable, definate potential in this.

 

Had a problem downloading the manual - hotfile keeps freezing at about 4mb of download, though I have found an excellent pdf of rules and patterns at the following link instead.

 

 

http://www.fxyeah.com/d/ea/WoodiesCCI_EN.pdf

[Diesel 10]

Hi Guys,

 

I thought I would start a new thread just for chatting about this incredible trading system.

 

What amazes me is that Ken Wood (Woodie) has been successfully trading this system for well over 25 years now (his dvd says 32 years of trading, but from what I can make out it took him 10 years to refine and develop this amazing system)

 

One thing clearly sticks out and that is Meta trader 4 traders have never really adopted this system as getting it setup on the MT4 platform is a bitch!!!.

It took me some time today to test and compare the indicators that I manage to get hold off with those on Woodies DVD.

 

What I have come up with is hopefully a very close approximation to the true Woodies system.

 

Some background on my research

=========================

There were 2 main developers over at Forex-TSD that actually took up the challenge of creating the MT4 equivalent indicators.

- FX_Sniper

- LinuxUser

 

Both started at different times and took different directions. FX_Sniper focused only on the Woodies Sidewinder indicator and the Woodies Chop zone indicator, whilst LinuxUser focused just on getting the Woodies CCI correct.

 

Linux User eventually on release 6 managed to get what was hopefully a 100% duplicate.

 

FX_Sniper started his development on the 11th August 2006 and

LinuxUser started his development on the 6th March 2007

FX_Sniper actually got hold Ken Wood directly and was allowed to use Woodies propitiatory code to create the SideWinder indicator for MT4. However nothing was mentioned about the chopzone indicator, so no idea if he used his own logic for this.

FX_Sniper towards the end of August 2006 started feeling the pressure and had a blow-out with another member ValeoFX (really just a stupid misunderstanding). FX_Sniper then ended everything on the 17th of August 2006, and that was the last anyone ever saw any updates to SideWinder and ChopZone.

LinuxUser's last update to his WoodiesCCI indictor was on 2nd August 2007. (so took him roughly 5/6 months to get this right.) However his thread is still active but there have been no new posts from him for quite some time.

Then on the 23rd of Feb 2010 a new user Rishnandar, posted an updated version of LinuxUser last release. This version seems to be the best one at the moment. Rishnandar added the following much needed features:

 

1. Time before the candle close with option to activate the alarm box

2. Current Time and date

3. Notification when the CCI peak to 200 or -200 to prepare for pattern HFE (Hook from Extreme).

4. By default, showing level -50 and 50 for ZLR (Zero Line Reject) strategy

Now for the interresting bits:

FX_Sniper built in experiation code to his Chopzone indicator, which if you try it now will not work. However he never did the same for the SideWinder indicator which still works even to this day.

 

There are 2 parallel indicators that almost draw the same as FX_Snipers Chopzone indicator. Of these 2 indicators I cannot make out which one works better, but they are very very close to each other.

 

I am attaching to this post a set of indicators that I feel comprise and make up the Woodies CCI system for Metatrader 4.

 

I do however believe that Woodies site contains a forum that may have further discussions on this topic with regards to MT4, but for the last 3 days I have not been able to get in as it appears to have crashed... (keep getting MYSQL database errors on the webpage..)

 

I really hope that one day someone can get this right for MT4/MT5.... as I really do not want to fork out $$$ for another trading platform....

The Installation

============

Some explanation on what you will need to do before applying these indicators.

 

- Step 1: Create your Range Bars

This can be achieved by either using the script located in the script folder of

zip file called s-Constant Range Bars.ex4 (Posted by Joy22, big thanks)

or

You can use the indicator located in the indicators folder called

RangeBarChart_v103a.ex4

 

I stumble onto the "RangeBarChart_v103a.ex4" indicator as there was

heated debate between the two authors who created both the Range Bar

indicators over at Forex-TSD. s-Constant Range Bars.ex4 sells for 60 Euros

from MQLService dot com and has not been updated since 2008.

RangeBarChart_v103a.ex4 was created by "The Forex Strategy dot com" and

has been updated very recently to version 2. (which i was not able to locate

and include)

 

I beleive that his version 2 is highly optimized and sorts out some "tick

issues". I may even purcahase it as he is only charging $30 for it and it has

been receiving some very good reviews at Forex-TSD.

 

Here is a video link on how to apply this indicator to your charts to get

Range Bars

http://www.the-forex-strategy.com/index.php/mt4-rangebars-plugin

For my Range bar period I chose a 3 mins timeframe, but you can use any

timeframe you want so long as it's not one of the predefined MT4 timeframes

i.e. 1M, 5M, 15M, 30M, 60M etc..)

 

-Step 2: Apply the SideWinder indicator to the new Range Bar Chart

 

-Step 3: Apply the "Woodie_CCI_Adv.1.0.ex4" indicator (Woodies CCI periods

are defined as 14 for the normal and TCCI is 6 (TCCI = Turbo CCI).

By the way a 14 period is used for any timeframe below and including

60mins, anything higher you have to set it to 20)

 

- Step 4: Apply one of the CZI indicators (like I said they are both very close

in their outputs.)

And Finally:

Remember that the key to Woodies system is this indicator, he encourages you to make this indicator as large as possible and make the Price action bars small, the focus is the CCI indicator, and not the Price Action bars...

 

My intent for this thread is to see if we can get this system pumping the profits it is claimed to produce. Last week when I "thought" I was using Woodies methods, I was wrong as I did not have range bars, so even though I found it quite profitable, it apparantley can do better

 

ps: The reason why I was able to successfully trade last week, is that all I had was a Woodies CCI indicator that I found on Forex-TSD sometime ago, after going back their now, I see the author coded it to work with the normal time price action bars, but he did say that it would never be as profitable and as correct than if it were using range bars.)

 

I have also included in this zip pack, one of FX_Snipers LSMA indicators. I am still trying to figure out where this one goes and why? Could not find any mention of it on Woodies site, but I just included it as most of the guys at Forex-TSD where talking about it...)

 

Here are the links to the 3 developers threads at Forex-TSD

http://www.forex-tsd.com/indicators-metatrader-4/6315-cci-woodie-like.html

http://www.forex-tsd.com/indicators-metatrader-4/3244-sidewinder-cci-my-first-release.

http://www.forex-tsd.com/indicators-metatrader-4/3244-sidewinder-cci-my-first-release.html in 17second.

And then if anyone is interested here is the link to what appears to be the best Range Bar indicator for MT4 (costs $30)

http://www.the-forex-strategy.com/index.php/mt4-rangebars-plugin

Almost forgot, here are the documents for how to trade the Woodie CCI system

http://hotfile.com/dl/88828093/3468d27/Woodies_CCI_Trading_Manual.zip.html

And last but not least:

http://www.woodiescciclub.com/start.htm

Anyway I hope that someone finds this information useful and also wants to learn how to trade the Woodies CCI system on the Metatrader platform.

Cheers StaticX's Woodies CCI system indicator pack.zip

http://www.megaupload.com/?d=DDY9M0PI

 

 

Thanks for sharing Gopala.

 

Can you please post a link to your "normal" Woodies CCI indicator that is coded for normal price bars? Also a brief description of the time frame and how you successfully traded it would be appreciated. I want to take a look before investing the time to set up the whole thing with range bars etc... Thanks!