Need a EA to trade with the Center of Gravity indicator

MQL4 Experts

Job finished

Execution time 24 days
Feedback from employee
Nice working with him. Thanks!

Specification

hi developers - do share your experience with the CoG indicator if you have developed in the past as well. 


Trade principle

1.       The strategy in essence is a counter trend strategy – sell at tops, buy at bottoms, with the expectation that price will keep returning to the center blue line after everytime going to the extremes of red line (over bought) or green lines (over sold)

2.       SELL in the RED lines, BUY in the GREEN lines, exit at blue solid line (blue line is the center and TP for all trades)

3.       The candle average indicator helps to time the entry – the entry will be when the candle average returns to 0.33 level AFTER spiking to 0.8 levels. The sequence to analyze will be – price touches RED line (either the dotted RED line or the solid RED line), then wait for candle average indicator to spike to 0.8 level, then wait for candle average indicator to return to 0.33 level. Entry at market at the open of new candle.

4.       Since the CoG indicator repaints as the price action develops and the lines will change slope – trading to be avoided when the slope indicates a very sharp rise or fall. The shape of the indicator becomes like an inverted boomerang

 

 

5.       The boomerang indicates very strong trend, and counter trend trades to be avoided until the shape of the indicator starts to flatten out and slope becomes less than 45degree


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Project information

Budget
75+ USD
For the developer
67.5 USD
Deadline
to 5 day(s)