Scalping system #11 (The Center of Gravity)

I have tested this strategy for about 24 hrs and I got around 150+ pips in total across different pairs (eurusd gpdusd usdcad usdchf aususd nzdusd usoil).

I also searched around for centre of gravity and seems like the original strategy is to enter when the price reaches the channel boundaries rather than "sweet spots". But I think this one works better.

Has anyone tested for a longer period of time?

Hi Ashur

Amazing indicator - it's very pretty! Just a couple of observations from first runt/test (M5 timeframe, as per instructions):

1. COG lines appear to lag behind price action, so that the trend has already reversed and COG lines are pointing wrong way

2. You did not define how to set stoploss levels

The combination of these two means I opened a SELL order and the price went up 80 pips and counting. Will continue to try this system though, as it's my first time using it :D

Cant get "SweetSpots.mq4" to display anything, and yes, I've turned off the grid, and tried zooming in and out. Looking at the code, it does not have any indicator buffers?

Also, what do I do with the .tpl file? How do I use it?

Thanks!

I've started testing last night and so far so good. But need to keep an eye on the chart, so that you can get out if the channel reserves its direction.

This rich from usa, i like this system very much, i trade it on the one min tf it works well!!!! i can stay in my trade longer with out a big draw down. I have not been stop out yet, and there are times went i make 70-200 pips a day thank you, the best part about your system, it is free!!!! I saw the same system for 97.00 usd, on the webb, what a joke. Thanks again...

At present all screenshots should be sent to [email protected]

Thank you.

Thomas

Hi Thomas or other Moderator,

I would like to post some screen shots of the set ups I mention above in my post on 05/13/11 at 9:54 am....but can't quite figure out how to do it on this site? Can anyone help? I might just be having a brain fart...but I can't figure it out. It won't let me copy and paste. Can I download my screen shot? Thanks.

KC_Jed

I'm attaching some pictures of the charts that were mentioned above in my previous post at 9:54 this morning.

By the way Gerhard....if noone has helped you yet (you've probably already figured it out)...to install they system follow these steps:

1. Double click on my computer
2. open Program Files then click on the File for the broker platform you are using
3. next click on experts then indicators
4. drag the Center of Gravity and Sweet Spot indicators into this folder and close the folder
5. next open the templates folder and put the template with Ashur's name in it in this folder
6. Exit back to your Desktop and Re Open your trading platform
7. Finally, open whichever chart you want to use and add the template to this chart. All of the indicators will be on the chart for you at that point.

Cheers und Gueten Tag,

KC_Jed

This is a FANTASTIC System.....I cannot say enough how much I LOVE it. It takes all the worry of whether or not you're going in the right direction out of the equation....which is the biggest "brain wrencher" in my opinion. I've only been using this a short time, but have already been successful and have fallen in love with it. Thanks to Ashur and all the rest for your work. I have added a couple of other indicators below my charts that make this about as fool proof a system as you can have in Forex. Obviously....there is no "fool proof" system...but in my mind this comes awful darn close. I don't actually use the Sweet Spots indicator with it....too many lines clogging up the chart. I simply use the Center of Gravity with a Trend Scalping indicator based on Elliot Waves and the CCFp indicator which is a Currency Strength indicatorthat graphs the currency pairs individually to show you visually which currency is in control (Buy) and which one is losing strength. Simply google the indicators if you're interested in them and they can be downloaded for free.

Please understand...I'm not taking anything away from the existing system...it's great as it is. I've just found these other indicators help me see the whole picture "Crystal Clear". Also...one thought for entries and exits with this. If you're familiar with Fibonacci...trading the retracing of the fib off the 61.8, 50, or 38.2 level in the direction of the COG makes for great entries...with targets at the 138.2 level or the 161.8 level and stops above the most recent swing high leaving enough room above the swing high to account for the spread. Also, I've had good luck so far with trading off the dark blue lines in the direction of the COG with the target at the next dark blue line.

I've place about 15 trades so far without a loser. So...like I said...still in the Early Stages. I've trading FOREX for about 7 years on a very part time basis and now FULL TIME (yeah!!) as of February this year. Cheers to everyone and great work on this site Edward.

Hi Mike,

The main idea behind the Center of Gravity (COG) indicator is that price tends to gravitate towards the center line of the indicator.
This knowledge is very useful for anticipating the general "price flow", if you wish.

The trick of trading with COG is that it relies on always changing momentum, e.g. what was considered a trading signal (or profit target, or stop level etc) this moment, may not be true few moments (few candles) later. So, basically, you're trading with signals received "here and now" while constantly monitoring the change of the general price flow. With COG you can't do backtesting or even look back a few candles down, it won't be valid anymore. The only valid information is the one you receive "this very moment".
Hope I managed to explain this tricky point with time relevance.

With COD indicator traders look to enter a trade in the direction of the COG channel: COG channel UP - Buy, COG channel Down - Sell.
When Buying, look to enter at the lowest (out of 5) COG line. When Selling, you sell from the top or the highest COG line in the 5 line channel.

Best regards,
Edward

Edward,

could you explain what are the rules for trading with center of gravity? I have searched all over the internet and found nothing useful...

Thanks.

Mike

COG is supposed to have 5 lines, not 7.

Thomas

i uploaded the cog indicator and template too but i just got 5 lines cog indicator not the seven as your chart!Again i google it and download another cog indicator tht also shows the same 5 lines.what happend?

Hello !

Who can me help to install the System on Mt 4.

Please help me.

Best regards

Gerhard