Magic Up Down (metaTrader indicator) — will show you where the CCI cross with the zero occur (marking it with the red or blue arrow) to help you decide whether to go short or long. It has a minimal lag and a relatively high accuracy. This simple indicator is a good choice for those traders that prefer to keep it simple and hate complex indicators. The indicator is available in MT4 and MT5 versions.

Parameters

As you can see, this indicator gives direct signals for buy (blue arrow pointing up) and sell (red arrow pointing down). You should know that you do NOT enter the trade if the signal is contradicting the current general trend. If it's uptrend and you get a blue arrow — go long, if you get a red arrow — do nothing (just close your long position if you had one open); if it's downtrend and you get blue arrow — close short position but don't go long, if you get red arrow — go short; if chart goes sideways and you get blue or red arrow — feel free to go long or short respectively. I recommend setting your stop-loss directly at the level where the arrow is drawn (it's displayed if you point your mouse at it). I also recommend using trailing stop with this indicator.