COGSTOCH Indicator

COGSTOCH Indicator

COGSTOCH Indicator For MT4 combines the center of gravity and stochastic indicator to provide forex trading signals with better risk reward ratio

The COGSTOCH indicator for MT4 combines classic COG – Center of gravity and stochastic indicator to provide overbought and oversold forex trading signals. The COG indicator detects price reversals as early as possible and the stochastic provides overbought and oversold conditions. A combination of these provides better trading signals at the beginning of a new trend direction.

The indicator works well for new and advanced forex traders. Furthermore, it works on all intraday price charts as well as the daily, weekly and monthly price charts. Additionally, the indicator is suitable for intraday, short and long term forex trading.

COGSTOCH Indicator For MT4 Trading Signals

The indicator plots blue and red oscillator lines on the COG channel of green lower and red upper channels. The channels slope downwards in a bearish market and slope upwards in bullish market conditions. Trading strategy is to enter the markets at the overbought and oversold levels while keeping the slope of the channel in mind.

Trades should enter a buy trade, if the blue oscillator line moves higher after touching or moving lower than the lower band. Similarly, if the blue line reaches the upper band and the reverses traders should open a sell position.

Moreover, traders should enter in the direction of the channel slope and avoid entering in opposite direction. The best trading strategy is to exit at an opposite trading signal or if the slope of channel changes. Since, the indicator provides reversal forex trading signals it is important to confirm the entry signals using price action.

Conclusion
In summary, the COGSTOCH indicator for MT4 provides oversold and overbought forex trading signals with better risk reward ratio.