The COG RSI Histogram Metatrader 4 indicator combines the Center of Gravity and Relative Strength Index trading indicators.
Using this indicator offers traders insight into the overall market trend direction along with impending reversal signals.
Traders can also plot profitable entries when using the COG RSI Histogram indicator, while also determining the equilibrium point between buyers and sellers on any time frame for any forex pair.
Key Takeaways
- In order to fully understand how the market works and also derive the appropriate trading insight, we must lend more focus to the positioning of the histograms and the line on COG RSI Histogram indicator.
- The indicator rightly offers two distinct signal components: the histograms are the RSI factor while the lines represent elements of the “COG” Center of G
- The signal mechanism on the COG RSI Histogram is multi-directional i.e. users can take advantage of the way and manner in which the histograms position above/below the zero-horizontal level and the positioning of the indicator’s lines.
Feel free to explore the COG RSI Histogram indicator’s different parameters and settings to create your own personalized indicator setup.
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Download the “cog-rsi-histogram.ex4” Metatrader 4 indicator
COG RSI Gravity Histogram Forex Indicator Chart (NZD/CHF M30 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 Histogram MT4 Indicator
Buy Signal: Go long when the COG RSI Histogram indicator prints steel blue histograms above the zero-horizontal level, and the orange line of the indicator also breaks above the 0.00 level. Plus, the blue line of the Alligator indicator crosses below the lime and red lines in a downward up fashion.
Sell Signal: Go short when the COG RSI Histogram indicator prints Indian red histograms below the zero-horizontal level, and the orange line of the indicator also breaks below the 0.00 level. Plus, the blue line of the Alligator indicator crosses above the lime and red lines in a top downward fashion.
Exit buy trade: Close all buy orders if while a bullish trend is on course, the COG RSI Histogram indicator prints an Indian red histogram below the 0.00 level and the orange line dips below the zero level. Else, the red line of the Alligator indicator intersects the lime line.
Exit sell trade: Close all sell orders if while a bearish trend is running, the COG RSI Histogram indicator prints a steel blue histogram above the 0.00 level and the orange line surges above the zero level. Else, the red line of the Alligator indicator intersects the lime line.
Tips: The COG RSI Histogram indicator is designed to help traders stick to the right market direction during trading.
The indicator is known to function pretty well as a standalone indicator.
However, it can be used together with other trading indicators (see the Alligator indicator example above) to improve its overall performance.
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Download the “cog-rsi-histogram.ex4” MT4 indicator
Adjustable Parameters
RSI period, RSI price, sig period, sig mode, bars back, fibo band, std koef, mper, iper.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Trend, reversal.
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
