Scalping system #11 (The Center of Gravity)

Hi,

How long on average are you in a trade? Have you found any pair to stay away from?

Hi Stuart,

I'm intrigued by the way you use this system but one part of your statement baffles me. Having entered a trade, either short or long, you then say "If the price continued further, I entered a 2nd trade". Do you mean you let the 5 minute bar that crossed through the COG line end, take whatever profit there is at this point, and then open another trade on the next 5 minute bar if it continues to go in the same direction as the previous one (but don't take the trade if it starts to go the other way)? Hope this makes sense. Thanks Andy

hey everyone,

Can you only use this system with meta trader 4?

Hi Ashur, I've posted a few comments over the past week saying how effective the C.O.G. indicator seems to be, with many winners and very few losers. However, I am now convinced that I am not seeing the full picture and may have got it completely wrong and would like your advice regarding "repainting". When I look back over the 5 minute charts I can see approximately 12 hours of C.O.G information on there and I assumed that this didn't really change too much over the 12 hour period as each new bar was added to the graph (right hand side) and a bar was removed from the indicator on the left hand side. I now suspect, however, that the indicator can change direction very quickly and present a whole new situation as each bar is added, therefore making it a worthless exercise looking back over the 12 hour period the indicator covers as it changes so often. Is this your observation or does the indicator actually change at a fairly slow pace. I ask this question because I work full time and can only look back at a chart when I get home in the evening so I need to know if what I am seeing is reliable or whether it shows a distorted view of the day's trading opportunities.
Thanks.
Andy

Thanks a lot my friend

Ashur

Done!

Edward if you can rename the center of gravity file where my first post was to, "Center of Gravity 1" that would be great so it doesn't trick people. Thanks.

Ashur

Hi its ashur once again, sorry for the late response. The reason why you guys are getting a different setup than i am is because when i uploaded the center of gravity indicator the name changed :S So rename the file to "Center of Gravity 1" and load my template and there you have it. Also if your seeing the sweet spot levels REALLY close together its because your broker deals with 5 digit prices, so all you have to do is right click on the chart go to indicators list, and press sweet spots and edit. Then change the number 25 to 250. My template is located in the zip file where my first post was. So change the indicator name to "Center of Gravity 1", restart metatrader and load my template, and everything should be good.

Nice one Stuart!! I've just checked again today and there's 7 winners 1 loser on the three currency pairs I mentioned earlier. These are all taking the full 25 pip profit (less spread) from one sweetspot level to the next one. Total for this week 34 winners 3 losers, but as you've shown with your own test there appear to be several methods of using this indicator to good effect.

ASUR,

your systems seems to be fine in starting, i am starting testing on it, Hope to get good Results

the Picture you posted shows 3 Levels of Rings, but the Indicator you posted shows 2 level of rings only

2. Can you please post what are the settings of the indicator you used and how to increase the no of rings

Waiting and Thanks in Advance

regards

Vikram Sachdeva

Hi Ashur, and all ...

I found this system truly amazing today!! Although I was trading it a little differently. I would as the system states trade WITH the gravity line, but entered a trade immediately as the price fell below or above the line (depending on direction). If the price continued further, I entered a 2nd trade. As it is scalping, I set my TP to between 5 and 10 pips only.

The results were amazing! I traded 6 pairs, resulting in 59 trades, of which 2 were minor losers, and 1 break even. They were only losers because I closed the trades due to taking too long, and a possible direction change. The break even was due to the same reason. This however was on a demo account. I did trade some of these same transactions on my OANDA live account, which resulted in a 27% return!!

I have attached my statement for you to have a look at. Please only look at the transactions after 13:00 - the few before that were another method. Basically, on a $2000 account, my returns today were $900 - almost 50% in one day???

DetailedStatement_1.htm

Thanks a million, and I will post more results as I get them. :-)

Stuart

Oh, I forgot to mention, I am checking this system using GBP/USD, EUR/USD and EUR/GBP currency pairs because they have the tightest spreads for me( I use IG Index for spread betting).
Regards Andy

Hi, I just thought I'd let you all know that I am still checking this system daily to see how it performs over the long term. The COG indicator does keep "re-painting" but there is always about 12 hours worth of indicator on the chart. This means if you look back at the charts two or three times during the day you can get a full 24 hour view of the indicator working. Further to Monday's observation of 13 winners and 1 loser, I can say that I observed 5 winners and 1 loser yesterday (3rd March)and 8 winners and 1 loser today. I have to say that I have NOT traded this system due to daily work commitments and, as I said in a previous posting, I may not be using the system as Ashur would recommend but if these observations can be turned into actual winning trades, then who cares!! My observations have been based on taking the 20-25 pip profit between sweetspot indicators with a stop loss of 40 pips for each trade. If anyone else is following this system and is not seeing the sort of results that I am, could you please post your info here, so that I could compare and, once again, make sure that I am not completely mis-understanding the system.
Regards. Andy

what setting will COG & sweet spots indis be ?

Thomas, as I am just observing this system at the moment I am unable to give you any screenshots or results, but if you look at the screenshot supplied by Ashur you can see (on the left hand side)the thick blue centre line change from upwards to downwards direction, soon after this the price drops through this line 3 times but no trade is taken because neither of the price drops hits a sweet spot line. Soon after this the price drops through the line and hits the sweetspot line, before going on to hit the second one soon afterwards. Soon after this the price again drops through the line but at this point the line is "flat" so I don't think I would have taken this trade. As the line then turns upwards a trade is signalled in the up direction, the first sweetspot line is hit followed very quickly by the second a short time later. As I said, I'm no expert but it looks to me that it could be traded like this. Oh, by the way, I just checked some trades that were signalled last night (early morning actually) that I wouldn't have taken due to the time, but there were 4 winners 0 losers. Regards Andy