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This looks like a good scalping indicator. Seems you can use blue/red as resistance/support, and take as reversal trades when they appear. Use stops of if there is a full bar close opposite side of your entry indicator...
I've just started experimenting with this using better renko 4 range on NT7 and have written myself a few rules to try,
just based on eyeballing the charts.
As Mike said earlier, and it appears to me that it may be possible to trade the reversals and the breakouts
thats what I'm hoping anyway
I'm going to set the stops just on the opposite side of the CCI to the direction of the trade i'm entering
ie: if i go short (on a revesal trade) then i'll set the stop just above the relevant CCI pivot by one or two ticks.
It appears that if you pick the trade correctly it rarely will retest the CCI pivot line by more than a few ticks max. And if you don't pick the trade correctly then the trade will breakdown quickly and recross the pivot and the tightish stop will prevent too big a loss.
A lot of summation on my part atm, hopefully with time, I will prove me right when testing