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( Share) Woodies CCI Method

StaticX

Member
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 Metatrader 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

Code:
[URL="http://www.the-forex-strategy.com/index.php/mt4-rangebars-plugin"]Range Bars How-To[/URL]

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 :eek:

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
Code:
[URL="http://www.forex-tsd.com/indicators-metatrader-4/6315-cci-woodie-like.html"]LinuxUser - first versions of the Woodies CCI indicator[/URL]

Code:
[URL="http://www.forex-tsd.com/indicators-metatrader-4/3244-sidewinder-cci-my-first-release.html"]FX_Sniper - SideWinder and Chopzone[/URL]

Code:
[URL="http://www.forex-tsd.com/indicators-metatrader-4/24675-woodies-cci-added-features.html"]Risnandar - Finally and best version of a stand-alone Woodies CCI indicator[/URL]

Update 14 December 2010
Here is a link to one of the most complete Woodies implemention for MT4. Costs $30 a year for a license but it is well worth it.
Code:
[URL="http://www.kardamonfc.com/products.html"]WCCI-KardamonFC[/URL]

And then if anyone is interrested here is the link to what appears to be the best Range Bar indicator for MT4 (costs $30)
Code:
[URL="http://www.the-forex-strategy.com/index.php/mt4-rangebars-plugin"]RangeBars Plugin[/URL]

Almost forgot, here are the documents for how to trade the Woodie CCI system
Code:
[URL="http://hotfile.com/dl/88828093/3468d27/Woodies_CCI_Trading_Manual.zip.html"]Woodie CCI System Manuals[/URL]

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

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

Updates and Revisions to Woodies-CCI-System

============== Begin Update ==============
14 December 2010 Release 1


Contains:
  1. Release 1 of the Range Bar plugin from
    (Would recommend purchasing a license for his newer release 2, it is
    well worth the money. Cost is $30)
  2. Release 1.0 of the WCCI indicator set from .
    (Would also recommend purchasing a license for his newest WCCI pack.
    which as of 14 Dec 2010 is at 1.10)
  3. Radicaltour's template to help obtain the correct period to use for the
    Range bar indicator
  4. Trading Woodies CCI System.pdf
  5. woodie_CCI_2.1.pdf
  6. Woodies CCI basic patterns and terminology.pdf
  7. Woodies CCI examples.pdf

I have also attached to this post a quick reference guide that I have found to be extremely useful for identifying the 8 patterns.

Located on this post You will find a small indicator pack that does not use Range Bars. Its not as reliable as the main link above, but some people were requesting this so I added it for there own investigations.
============== End Update ==============

============== Begin Update ==============
15 December 2010

Using CCI to Make a Living Off Forex

Not quite Woodies-CCI, but uses woodie like values. Still interresting.

============== End Update ==============

============== Begin Update ==============
24 December 2010
Stovedude kindly educated the latest version of this really terrific indicator set for a full Woodies implementation under MT4
(If you guys like it and make some $$$ by using it, please consider paying for it from the author, it's only $30 and he will provide you with updates as they come out.)

============== EndUpdate ==============
==========================================================
 

Attachments

  • Woodie_QuickReferenceGuide_based_on_Doc1.1.pdf
    56.4 KB · Views: 13

StaticX

Member
Hi Marcuss,

I am still tweaking the system, but as soon as I have got it correct, I will definitely post a template.

Cheers
StaticX
 

radicaltour

Moderator
VIP Member
StaticX,
I want to applaud you for such great effort.
I would love to contribute to this journey by buying the $30 indicator that you spoke of.
Please let me know if there are other indicators/products under $100 that i help purchase as well.

Thanks again..
 

StaticX

Member
Thank you Radicaltour,

I actually have just purchased this indicator. And I can say that it is money well worth spending!!!
Also I like to support the guys that I feel are actually providing a good service. The fact that this guy has been constantly enhancing his indicator is very appreciated in my books. The guy from MQLSERVICE, has been pulling a Dittman and has not updated or provided a new script to his client based since 2008.

Here is the Thread over at Forex-TSD where these indicators are discussed.
Towards the end of the Thread you will see where Forex-Strategy comes in and starts talking about his indicator, and this is where the fun starts. MQLSERVICE then starts a mud-flinging competition against Forex-Strategy

Code:
[URL="http://www.forex-tsd.com/metatrader-4/12769-range-bar-chart-mt4-33.html#post380085"]Range Bars at Forex-TSD[/URL]

If you read this thread you will see that both authors took the "script" approach however, Forex-Strategy actually gives you 3 version of the plugin.
Indicator version, EA Version and script version... However his latest release version 2 (which you get after you have purchased the original plugin, is now just in the indicator format and is so much better.)

Version 2 of his Range Bar indicator is actually locked into your Broker account now, he requires you to send him your Live account number so that he can generate a key which you have to now enter.

I know we can educate this, but I feel he well deserves his $$$ for creating and maintaining such a powerful indicator. All updates are free for life so it's a one time payment. YOu can also change your live account as often as you like, you just have to send him your new "account number" and he generates you a new key. You do not need a key for a demo account which is set to unlimited number of uses.

Quick update with regards to the malfunction forming over at Woodies Club, I have sent them an email asking them how long before this will be operational, no reply so far... I even offered my own services for free to help them get it back up and running.

I would dearly love to get a fully working and operation version of the Woodies CCI system up and running for all MetaTrader traders.

Cheers
StaticX
 

StaticX

Member
Hi Guys,

Here is a very interresting article from Ken Wood (Woodies) himself in the Futures Mag about Range Bars and how successful they can be in providing you with that edge we all seek

Code:
[URL="http://www.futuresmag.com/Issues/2009/November-2009/Pages/Time-is-relative-with-range-bars.aspx"]Range Bar Article by Ken Wood[/URL]

Also with regards to Renko Bars (or Brick bars) here is the explanation I posted in another thread about the differences.

"The range bar measures a set range of price movements and when that range is met the bar prints. A Renko bar does the same except the range has to be all in one direction for the bar to print. So with a 10 tick renko bar the range has to be all up or all down for it to print"

Cheers
StaticX
 

StaticX

Member
Hi Zigani,

I stumble onto Kardamon's site this morning. Is this a picture of the same indicator set for on his site that he sells?

Code:
[URL="http://www.kardamonfc.com/products.html"]KardamonFC - Forex Indicators[/URL]

Cheers
StaticX
 

StaticX

Member
There definitely something interesting here with Range Bars. Woodies CCI is only profitable when used with range bars. In fact after converting some of last weeks charts to range bars, even without trading woodies system I would have been able to make far more trades than I did. It is quite remarkable to see the result.

I am looking into WCCI-kardamon now, appears he charges a subscription fee of $30 a year to use his indicators for MT4. They are looking very impressive. I have asked him just how close they are too the real thing... (thank goodness for google translate... I just hope to hell my English to Russian comes out ok)

Cheers
StaticX
 

jasik84

New member
Hey guys. Here are Kardamon indicators.

LSMA
WCCI-CZI Kardamon
WCCI-kardamon
WCCI-SI-kardamon

Template and manual included (manual in Russian).

hxxp://www.multiupload.com/D48TGT0UMR
 

StaticX

Member
Thanks jasik84,

I will check them out now. I have also sent Kardamon payment for a personal license as well. Again I do not mind paying for something that is decent. And at $10 I think that is more than reasonable.

Cheers
StaticX
 

marcuss

Member
Thanks jasik84,

I see in the manual this adress

At this adrees there is Ranged-Bars - version 2.01

Do you also have this?
 

StaticX

Member
Hey Guys,

I just received my licensed copy of WCCI-kardamon indicator set.
I highly recommend this. It works like a dream is a 99.99999% exact replica of the Woodies CCI system, right down to the Sidewinder and ChopZone indicator, and even their positioning on the CCI indicator is spot on.

This guy has done an incredible job and he tells me that he continually supports it and enhances it.

The full WCCI-kardamon indicator set comes with dll. Also as per his site the indicator is run on a subscription bases of $30 a year (not bad when realize that it is only $2.5 a month, one can easily make that in your daily trading :)) So my indicator will expire 12.01.2012.

What is also interesting is that he provides two templates.
- One for using the indicator set without range bars (so normal timeframe bars)
- One for using the indicator set with range bars. (Which he recommends as being the most profitable)

Attached is the English version of his manual. Have a read and look at the indicator pictures.

Cheers
StaticX
 

Attachments

  • WCCI-MT4-eng.pdf
    169.2 KB · Views: 8

StaticX

Member
Here you go,

If you like his stuff I highly recommend the purchase, especially since you will get further updates as he fixes bugs and enhances it even further (he still needs to address that 0.00000000001% of the system :) )
 

zxpips

Member
Hey Guys,

I just received my licensed copy of WCCI-kardamon indicator set.
I highly recommend this. It works like a dream is a 99.99999% exact replica of the Woodies CCI system, right down to the Sidewinder and ChopZone indicator, and even their positioning on the CCI indicator is spot on.

This guy has done an incredible job and he tells me that he continually supports it and enhances it.

The full WCCI-kardamon indicator set comes with dll. Also as per his site the indicator is run on a subscription bases of $30 a year (not bad when realize that it is only $2.5 a month, one can easily make that in your daily trading :)) So my indicator will expire 12.01.2012.

What is also interesting is that he provides two templates.
- One for using the indicator set without range bars (so normal timeframe bars)
- One for using the indicator set with range bars. (Which he recommends as being the most profitable)

Attached is the English version of his manual. Have a read and look at the indicator pictures.

Cheers
StaticX

Hi StaticX, I've been following this new system, i don't have the rangebar indicator to try this, but before I purchase it, I would like to know of what you think about trying exactly the same thing that you describe but instead of RangeBar, I would use Renko charts, as described here:
, i'm sure you probably already know about renko blocks, but i have this link of reference for others that are reading along.

 

StaticX

Member
Hi zxpips,

Funny enough I actually was going to do exactly the same thing. But then I realized that by doing so I would be deviating from the true Woodie CCI System.

I eventually decided that if I were to follow this system then I should do it exactly.

Joy22, actually posted a range bar script a few posts back, you can try that one for now, it does work. I just found that the newer Range Bar plugin from The Forex Strategy works much better and has more features, plus it is constantly updated and improved.

What I am currently in the process of doing is researching the correct and optimal settings for using with the Range Bar. Artur Zus (creator of the Range Plugin) has just sent me a link to a YouTube video where discusses this exact topic: "Finding the best range bar setting for day trading"

Here is the link:

I am also trawling everything I can about the Range bar settings and pip settings that are used by the Woodies CCI System.

In the one pdf document that I posted "woodie_CCI_2.1.pdf" it looks as if the value of the Range Bars for Forex is 15, but I have also seen and heard of guys using values of 5 and 13.

I will keep everyone posted to my findings.

ps: It is becoming very clear that in this new area of Forex Technical Analysis, removing time from charting is proving to have some extremely positive results. Needless to say I will also be looking further into Renko Bars as a side project, but for now I want to just focus on getting to grips with the Woodies CCI system for MetaTrader. Like I said, Mr Woodie has been using this system for well over 25 years now and is still being extremely successful with it.

Historical Note:
Range bars were introduced into Woodies CCI system some time after the mid 1990's. I say this as the Range Bar charting technique was developed by a Brazilian trader, Vicente M. Nicolellis Jr in the mid 1990's.

Maybe it would be an interesting project to run a parallel demo system and trade the Woodies cci system using Renko Bars. Right now I do not know enough the Woodies system to give a comparison, but hopefully one day I will get there.

Cheers
StaticX
 

StaticX

Member
Just found a video of the new Range Bar plugin from Forex Strategy. This is his latest version 2.01b.



Cheers
StaticX
 

StaticX

Member
Hey Guys,

If anyone is interested I finally managed to locate the "Woodies Club Home Study Course DVD set". It's roughly 3gig to download and the links are not mine.

Send me a pm and I will give you the links. I do not want to post them here in fear of getting this thread forcefully closed.

Just a heads up I had to sign up for a 1 month membership for the download service (well that is if you want to download at the fastest speed) as it was not one of the popular ones that most of us use. (cost is $9 a month, just remember to go to PayPal and cancel the subscription after you have completed the download)

Cheers
StaticX
 

stovedude

Active member
Let us know if it's any good. I always liked Woodies. Never tried with CRB or Renko. Maybe that was the missing key...
 

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