The COG RSI Metatrader 4 indicator is a technical tool that combines COG, also known as the Center of Gravity indicator with the Relative Strength Index indicator to yield a hybrid type indicator.
The COG RSI MT4 indicator comfortably combines the ability to determine support and resistance levels, along with overbought and oversold price conditions in the market.
Therefore, the indicator has minimal lag in response to price data, while also revealing distinct market turning points.
- In order to fully understand how price plays out on the activity chart, more attention should be given to the COG RSI indicator signal line color.
- A good combination of candlestick patterns and the COG RSI indicator signal system will greatly enhance signal accuracy and should be well considered.
- The preconfigured settings on the COG RSI Metatrader 4 indicator sufficiently rewards trader’s profit yearnings.
- The indicator also acts like an oscillator type technical tool with no fixed minimum and maximum values, thus offering users floating values.
Feel free to explore the COG RSI indicator’s different parameters and settings to create your own personalized indicator setup.
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COG RSI Forex Indicator Chart (EUR/ZAR M15 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The COG RSI MT4 Indicator
Buy Signal: Go long when the signal multi-colored line of the COG RSI MT4 indicator changes to steel blue within the indicator’s sub-window.
When price open and closes above the magenta 32 SMA MT4 indicator line, it is a buy signal confirmation.
Sell Signal: Go short when the signal multi-colored line of the COG RSI indicator changes to indian-red within the indicator’s sub-window.
When price open and closes below the magenta 32 SMA indicator line, it is a sell signal confirmation.
Exit buy trade: Close all buy orders if while a bullish trend is running, the signal multi-colored line of the COG RSI indicator reverts to indian-red. Else, price open and closes below magenta 32 SMA indictor line.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the signal multi-colored line of the COG RSI indicator turns steel-blue. Else, price open and closes above magenta 32 SMA indicator line.
Tips: The COG RSI MT4 indicator is trade-ready and runs smoothly on the activity chart once added.
Aside being able to function as a standalone technical tool, it can be traded alongside a wide spectrum of technical indicators.
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RSI Period, RSI price, SIG period, SIG mode, bars back, FIBO band, STD koef, m per, i per.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Oscillator
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.