100% FREE “Center of Gravity” MT4 Forex Channel Indicator
Center of Gravity (Cog) is a channel indicator that consists of 5 lines on the chart:
The blue line is called the center of gravity line (the middle line)
Green lines are internal borders of the channel
Yellow lines are external borders of the channel
The distance between the internal and external borders are in direct dependence on the level of volatility. The higher the volatility is, the shorter the interval between boundaries.
With Center of Gravity indicator you can use two types of entry points:
- Rebound from the border of the channel
When a price rebounds from the lower border of the channel, open a buy position, set the first take profit at the middle line of the channel (the blue line) and the second take profit – at the top border of the channel.
When a price rebounds from the upper border of the channel, open a sell position, set the first take profit at the middle line of the channel (the blue line) and the second take profit – at the bottom border of the channel.
- Price crosses the center line of the channel
When a price crosses the midline of the channel from the bottom up, open a buy (long) position. When a price crosses the blue line from top to bottom – open a sell (short) position. Take Profit and Stop Loss levels are set at the internal borders of the channel.
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