Scalping system #11 (The Center of Gravity)

Andy,

I like your approach very much. The big drawdowns I was showing in earlier pic would have been avoided with it. Like you say maybe less opportunities, but less losses wich is what I prefer. Thanks.

Chamane

Manus,

Do you know the exact rules for this new template? I can guess a few, but there are lots of COG lines in the setup, dotted and nondotted. Also, do the candle of the indicator (and what color) have to close in overbought/oversold territory or just touch it? Thanks for further explanation or links if available.

Chamane

Chamane,
No I don't re-enter after reaching the first sweetspot. For me the trade is over and I start afresh again. After a short trade, for example, the price will be below the COG so at this point I wait for one of two things to happen. Either I wait for the price to rise back through the (pointing DOWN) COG and CLOSE ABOVE it and start looking for it to pass through it again downwards,OR if the price doesn't rise back through the COG I wait for the COG itself to change direction and then look for the price to rise UP through it, and look for it to hit the first sweetspot. I personally like to SEE the price pass through the COG either upwards or downwards, before looking to enter a trade and don't look for a down trade if the price is already below the COG when I start my computer. Again, this is my own personal way and I DO NOT trade for a living so please, please find what works best for you and listen to what other, more experienced, traders may have to say regarding my ideas.
regards
Andy

Speak about COG; i heard there is a new version about COG here's the screenshoot :

Only Trade in a bigger Timeframe 4 hours & up.

Here's the Indicators :

Oan_fixed.zip

Regards;

Manus168

* P.S. Not Suitable for Smaller Timeframes Under 4 Hours (like 15 minutes, 5 minutes, etc)

Chamane,
If, for example, I take a short trade as the price PASSES THROUGH the centre line downwards and then hits the first sweetspot I take the profit and then wait for another opportunity. I personally don't re-enter at this point. I wait for one of two things to happen. At this point remember the price is below the COG centre line so I wait for the price to rise back up through the centreline, which is still pointing down, and close ABOVE the COG. I then wait to see if it passes back down again through the COG ready for another trade (if it hits a sweetspot). It may be that after the first short trade, the COG then reverses direction UP ready for a potential long trade if the price passes through the COG and hits a sweetspot in the new direction. Basically after a trade is closed out for either a profit or loss I am starting again from scratch each time. Sure, I will miss some big moves but I'll never take a big loss. As I said this is just me, and I don't even stick to my own rules sometimes so it's best to try a few things and see what works for you.
Good luck and let me know how you go on because you may find a better method of trading this indicator.
regards
Andy

Andy,

Your suggestion as a rule for trading this method looks very interesting. What do you do after reaching the first sweet spot of profit? Reenter? I like the idea of using 50 pips stop loss, meaning two sweet spots. I think it's close to the best. We get many signals on prime time (EUR/NY sessions), so enough wining entries to compensate positively I would say. I'm still demoing though, I will be able to tell later.

Regards.
Chamane

Here's what I mean by big drawdowns. I plotted a non repainted COG indicator just to show that lines were heading down just before the big reversal (first drawdown) whereas the standard COG shows lines going upwards because of the repainting. The second drawdown is happening right now as COG lines are going down. So if the stop loss is too far away, many hours of hard work will just go down the drain. I would say to set the stop loss at the second or third sweet spot at the most behind the entry point. Last week, I did not get many of those.

Chamane

Chamane,
I've seen the images you posted earlier and have to say that I use the indicator in a totally different way which seems to be giving 70-80% success. For example, I am only interested in the thick blue centre line of the COG, I ignore the other lines. If I see the COG pointing down I look for a 5 minute bar to OPEN ABOVE the COG and wait for it to pass down through it, confirming that the price is now moving in the same direction as the COG. I then wait for it to hit a sweetspot line and enter a short trade. I exit at the next sweetspot and set a stop loss of 50 pips. If the price moves down through the COG but then goes back up through it before it hits the sweetspot in the down direction, I leave it alone and repeat the process again until a trade is triggered. Long trades would be the reverse of this. Using my method, looking at your second screenshot, the very first bar on the left (very hard to see) passes UP through the COG, hits a sweetspot and continues up through the next sweetspot. On the same screenshot, but some time later, The COG is pointing down when the price passes through the centre blue line, hits a sweetspot a few bars later, and eventually hits the next sweetspot for a profit. Hope you can see what I mean. By the way, on the first screenshot I couldn't see any trade at all. Of course this is only my own way of looking at it and may not be the best, but it seems to work quite well. Anybody's comments/improvements on this would be appreciated. Cheers Andy

I started practicing on it seriously this week. I am happy with the results as I had many more wins than losses. But I still feel uncomfortable with all the systems using COG (Belkhayate, Oan, Paulus, etc.) because of the repainting and also because I don't understand really why the COG seems to be driving the price. I know it has to do with the oscillation, but I am always waiting for a big drawdown. That is one reason we need a good money management system. If we have a 1:1 risk/reward, we would not be able to place more than a trade of course as Ashur suggests. But maybe with more wins than losses it would still be profitable.

Chamane

I like this so far. Anyone have any results on testing this? I did go on Oan site and ask him a couple questions but he is not receptive to that without buying his $1000 system, sounds like he got burned on FF. so understandable.

I change it in the -sub level- field. I just double click and it allows me to change it to 250 instead of 25. Hope this helps.

Hi David,

I don't know about the possibility of using COG on other platforms.
What problem did you have with that file, is it corrupted?

Regards,
Edward

Ashur/Edward/Stuart/Patrick/User/Andy and certainly others . . .

I think it was asked before without answer, but can the CoG work on other or be imported for use on other than Metatrader?

If yes, any advice? I, too, could not open the .tpl file.

Your mutual enthusiasm is enticing, of course.

Thanks, David

Hi,

Just wanted to share entry points (see yellow arrows). COG is strongly heading down on two pairs , price above center line of COG, profit target at next sweet spots. I set stop loss 100 pips, but could be less.

Chamane

Thanks C_flow!!

Martin