The turbo is simply the fast line of the cci. Set your parameters on the cci to 14 and 6. These are usually the defaults. The six is the "turbo".
I have been using Woodies CCI on E-Signal and Tradestation for about 3 years. The first year I sucked, I was trading the S&P emini's intraday with it and I couldn't make a dime. I then switched back to trading equities, which I was always profitable with, and doing more swing trades, 1-3 day holds. I trade equities, Crude, Forex with the CCI. I only use the CCI along with basic candlestick patterns on daily charts. It works great for me. I am not in his chat room, as I don't trade intraday. The thing with the CCI, as with anything trading system, is that you need to find what works for you. Or simply find that it doesn't work for you. I'm sure there are people that use 1 moving average and make bucket. There is no holy grail. Just need to find what works for you.
Great posts by NihabaAshi and Samson. There is nothing wrong with Woodie system, the method is explained in detail, chatroom is free. Just compare it with some black box systems offered on the web. I like the CCI and I use it as one of my confirming indicators.
It's hurbis to think that one simple indicator and a few rules will enable you to take money out of the markets consistently over a period of time. Markets simply do not reward this sort of behaviour. If they did they would cease to exist. Over the long term the only people who make money in the markets are those that exploit inefficiencies. If you don't know what I'm talking about then you won't be around in a year or two.
Who is Woodie? Isn't CCI a momentum indicator? What is magical about this? There are many other indicators that are better than that piece. Electric does not use indicators, as he thinks they are distracting, he does not even use charts. Is this the same Woodie that advertises in SFO? When I saw he puts all the money to charity from his 350 buck 'trade with a woodie" seminar, I get sick to my stomach...
Woodie, in my opinion, is a good guy. He shared his ideas with others and he should be applauded for that. You may not like his cult status and I certainly don't, but it is his followers who created it, so why blame him for this? Having said that, if you want to be really good at CCI or anything else you need to spend some time to master it. While doing so, you may eventually realize that there is nothing special about it, but if you were smart enough you would have known this without even studying the whole subject. That's what happened to many of Woodie's followers who after months if not years of using the CCI finally figured out that trading can be done even with moving averages (like Kiwi, I believe). Sure, it can be. I have a friend, a very good trader, who always insists that it is the big picture that matters and if you don't have it, you should not trade. One of the limitations of the CCI or any other oscillator is that they are very local. You need to supplement them with global indicators, but since the global indicators are dominant, you soon find out that you can really trade without the CCI, using the price action for signals. Well, anyway, what I sometimes do is to use the CCI for confirmation of my entries, but not as the main tool. The main tool is the big picture.
Ha ha ha, I hope you're feeling better now. "Woodie's CCI System" includes: 1. Using a modified CCI Indicator with specific rules about the different setups (I personally found it kind of confusing, but if it works for you, cool). 2. Using a "turbo cci" and drawing all different types of divergencies. 3. Using at least one customized indicator to determine if the market is in "trend mode" or is in "chop mode" (there's one called "Sidewinder" and there is another one). 4. Using "Woodie's Pivots" to determine potential support and resistance areas. 5. Using at least one Moving Average (25 LSMA) and maybe a 34 EMA as well to help to determine "trendliness". 6. The traders may also use something called an Ergodic (exactly what that is, I honestly don't know, but I THINK it is some type of MACD type indicator). So there you go. Go to Woodie's URL figure-out how they have a system incorporating some or all of these indicators (lots of free literature, BTW), READ all of the free literature, and practice for 3 or 6 months, and you might have a trading system. (P.S. I tried and I didn't like it for intra-day trading of the e-mini's, so I don't use it, but if you can find any market that has basic trendliness and divergencies like the aforementioned stocks, crude, etc., you'll do well). Best Regards, Jimmy
Read Woodie's info in this Gurus Crapola (lower right hand side links) : http://tradersparadise.blogspot.com/