COG MACD Indicator

COG MACD Indicator

COG MACD Indicator For MT4 replaces the classic MACD Zero line with COG indicator line. Best for additional forex trend confirmation of MACD trading signals

The COG MACD indicator for MT4 replaces the classic MACD Zero line with COG indicator line. The combination of the MACD – moving average convergence and divergence and COG – center of gravity acts as additional conformation of the trend direction. So, MACD based trend traders get quality forex trading signals from this indicator.

The indicator works well in all chart time frames and is suitable for intraday trading, short and long term trend trading. However, new forex traders should understand the COG indicator signals, Fibo and the slope before using this indicator. Advanced forex traders can use the indicator for formulate advanced forex trading strategies.

COG MACD Indicator For MT4 Trading Signals

The indicator plots the upper band of the COG as red and the lower one as green. Additionally, the MACD bullish bars are olive and the bearish ones are red. The Zero level COG is dark blue while the MACD signal line is light blue.

The trading strategy is to enter the markets upon the crossover of the histogram bars above or below the ZERO line. For additional confirmation traders should place trades if the direction of the slope corresponds to the MACD signals.

If the histogram bars appear above the Zero line with a positive COG slope, it confirms as a bullish trading signal. So, traders should enter the markets with a buy trade and place a protective stop below the previous swing low.

Similarly, if the red histogram bars appear below the Zero line with a negative COG slope, it is bearish trading signal.

Conclusion
In summary, the COG MACD indicator for MT4 gives additional confirmation for the MACD using the COG indicator.