Generic COG strategy | Foreign exchange EA download- MT4/MT5 resources
Hello everyone
I'm currently trying out some stuff on the M5 and higher timeframes while working on other things.
This is a very simple center of gravity strategy. I provided the settings for the E/U 5M, which worked great, but did not fine-tune the pair. The idea is that if both RSIs are near or above the upper limit, and the price is at least outside the upper green zone of the COG, and preferably at the orange line of the COG, you can sell. You buy when price is below or below the RSI line and when price is at least equal to or below COG's green line, or preferably the orange line. It's all as shown in the picture. This strategy is not complete, and I don't see the use of presenting something complete when the idea here is collaboration.
The price target should be at the blue line or similar, or before the blue line if price surges toward your price target. SL should be slightly larger than TP. So for M5 daytime TP is probably around 15 pips and SL around 20 pips. When you look at COG, it's very easy to calculate TP/SL for other time frames. For counter trades on breakouts, TP needs to be lowered to 11-13 and SL can be adjusted accordingly.
I've used this on a few other pairs, E/G, U/C, G/U, etc., although it's still in demo since I haven't finished fine-tuning it yet, but it's coming soon. The only thing I changed for other pairs is the limit of RSI 5 so it reaches that line at the same time as RSI 14.
So what I'm doing now for this strategy is:
Look at time frames other than M5 when I have time. When switching to M15, M30, etc., RSI 5 seems to need adjustment.
Adjust the RSI so that the target is reached at the same time.
Try other RSI, CCI or other strategies to avoid bad trades with this strategy, if you are not a daredevil and trade simultaneously on many pairs, having 3-5 good trades per day is a very dangerous thing (since they are all interconnected, if one trade fails, there is about a 50-80% chance that simultaneous trades will also fail.)
Looking at USD/CAD, I find this pair to be very interesting. I made a few good trades on this pair earlier this summer and I found it had nice, calm waves sweeping through it, which was fun to trade on M5-M30 (I was never as slow as H1, I was uncomfortable staring at my money pouring out, and I didn't sleep more than 3 hours on an open trade).
So I think we'll all help you make this 0.2 strategy profitable if you think you can do it.
Remember guys, COGs are your friends, and like all friends, even if they never betray you, they are never 100% reliable (and no friend knows everything either).
Hats off to Endroute for showing me the fine art of COG, hats off to Hoss, and hats off to Forexcube for showing me the fine art of staring at RSI all day long.
JB COG does not repaint.
EDIT: Can't upload the file anymore (max7), so I can't show you this with a COG that doesn't redraw.
I'm currently trying out some stuff on the M5 and higher timeframes while working on other things.
This is a very simple center of gravity strategy. I provided the settings for the E/U 5M, which worked great, but did not fine-tune the pair. The idea is that if both RSIs are near or above the upper limit, and the price is at least outside the upper green zone of the COG, and preferably at the orange line of the COG, you can sell. You buy when price is below or below the RSI line and when price is at least equal to or below COG's green line, or preferably the orange line. It's all as shown in the picture. This strategy is not complete, and I don't see the use of presenting something complete when the idea here is collaboration.
The price target should be at the blue line or similar, or before the blue line if price surges toward your price target. SL should be slightly larger than TP. So for M5 daytime TP is probably around 15 pips and SL around 20 pips. When you look at COG, it's very easy to calculate TP/SL for other time frames. For counter trades on breakouts, TP needs to be lowered to 11-13 and SL can be adjusted accordingly.
I've used this on a few other pairs, E/G, U/C, G/U, etc., although it's still in demo since I haven't finished fine-tuning it yet, but it's coming soon. The only thing I changed for other pairs is the limit of RSI 5 so it reaches that line at the same time as RSI 14.
So what I'm doing now for this strategy is:
Look at time frames other than M5 when I have time. When switching to M15, M30, etc., RSI 5 seems to need adjustment.
Adjust the RSI so that the target is reached at the same time.
Try other RSI, CCI or other strategies to avoid bad trades with this strategy, if you are not a daredevil and trade simultaneously on many pairs, having 3-5 good trades per day is a very dangerous thing (since they are all interconnected, if one trade fails, there is about a 50-80% chance that simultaneous trades will also fail.)
Looking at USD/CAD, I find this pair to be very interesting. I made a few good trades on this pair earlier this summer and I found it had nice, calm waves sweeping through it, which was fun to trade on M5-M30 (I was never as slow as H1, I was uncomfortable staring at my money pouring out, and I didn't sleep more than 3 hours on an open trade).
So I think we'll all help you make this 0.2 strategy profitable if you think you can do it.
Remember guys, COGs are your friends, and like all friends, even if they never betray you, they are never 100% reliable (and no friend knows everything either).
Hats off to Endroute for showing me the fine art of COG, hats off to Hoss, and hats off to Forexcube for showing me the fine art of staring at RSI all day long.
JB COG does not repaint.
EDIT: Can't upload the file anymore (max7), so I can't show you this with a COG that doesn't redraw.
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