I use an ECO2 (bottom panel here) setting of 3 (fast), 7 (signal), 21 (slow) for discretionary trading. The CCI is the yellow line in the second panel (my own flavor, basically I an averaged CCI setting of 9 with 5 smoothing).
Look for zero line cross on both to enter a trade, and then look for reversal in both to know when to get out.
Often, the ECO2 is the last to cross zero. But that is ok, we aren't trying to catch every single tick of the movement and we don't have to be in first... we just want consistent points. By not being "first" to trade we'll leave the fake outs to the other traders to deal with.
If you are in a long trade and the ECO2 turns purple, look to get out or take some contracts off the table and lock in profits. Same is true (vice versa) for shorts.
Stay tuned, I will be releasing the "Mike Trend" (second panel) indicator soon. But first, I need a better name for it... :)