Scalping system #11 (The Center of Gravity)
Submitted by User on February 27, 2009 - 18:35.
Submitted by Ashur
Alright first of all, I just want to say the indicators that i'm going to post and show are not mine so i take no credit for them. The center of gravity indicator was created by Oan. The idea is based on Mostafa Belkhayate's system. Also the sweet spots indicator was taken from "Patrick Bourgeois" with his submission of "Trading by Psychological Levels". So I'm going to upload all the indicators, and all you do is, put them in Metatrader/Experts/Indicators folder. Im also going to upload the template so all you have to do is load the template.
The rules are these:
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Wow, if you guys use this system with the Scalping system 14's Bollinger Band's Set up, O.M.G. Only take trades when prices are at or near both the COG and Bollinger Band's Red Line... Amazing!!! I'm scalping EU GU UJ GY and the AU, sexy!
Ok got it, I had to change the 25 to 250. Let's see how this goes.
why do I have so many yellow lines? I can't even see through all of this clutter.
Okay, got it, thanks Edward. You are a blessing to many.
Use Right mouse click + Save as..
Regards,
Edward
Why aren't the files on here downloadable? When double clicking they keep showing the actual programming.
To find out time for Singapore, you'd need to add +13 hours, which would make it an overnight trading:
21:00 to 13:00 the following day.
Regards,
Edward
Hi Edward, according to Ashur the best time to trade is 8am to 12pm. I am from Singapore. What should be the above best time to trade(8am to 12pm eastern time) in Singapore time?
Hi Kata,
The reason the system did not work for you was because you did not follow the second rule. In order to enter short, the price must be above the center of gravity line (the light blue). You should have shorted at about ~14:00 when it reached the horizontal dotted line and taken profit at 1.33. The reason is simple. First of all, the price is above the center of gravity (light blue line) so it is safe to sell. Second of all, the gravity lines have reversed and now are going down. And the price reached the dotted yellow line (1.3325) at ~14:00. Then the price dropped to the line under it which should have been your take profit (25 pips).
the other lines in COG are deviation lines - you'd use them for entries and exits. E.g. When GOG slopes up, it would be nice to enter somewhere at the lower band on a retracement. then, if you're for some quick profits, you'd be looking to exit when price hits the highest (or the highest but one) upper COG band.
Hi
I have been using this on a higher timeframes like 15M and 30M. It seems the more the lines squeeze that the trend is about to end. I am mainly using the cog line thick light blue one. Can somebody explain what the other actually do. Regards Mat
Regards Mat
Hi Mike,
no need, of course, to use all time frames for confirmation.
I haven't traded with this indicator for a while, but I'd recommend using 15 min COG to confirm 5 min COG, just because we don't need to look any further than that.
At the same time 1 hour chart can contradict the direction, which is fine. But should it, on the other hand, also confirm the direction - that's just perfect.
Best regards,
Edward
Hi Michael,
There were several variations of COG.
Center_of_Gravity1 is the one to use. I also have this COG with price boxes, (initial settings are slightly different, can be changed if necessary):
Gravity_Center2.mq4
Best regards,
Edward
Hi Edward/Ashur/Other Users
Can anyone explain why the COG lines from the template that Ashur has produced (in the zip file) and the COG line indicator (Center Of Gravity1)are different in appearance - which should i be using in conjunction with the sweet spots??
Thanks
Michael
Hi Edward - first of all this is a brilliant site i find it really inspiring that you are willing to enable others to reach trading success.
I have applied the Ashur Template from the Zip file and will often look to see which direction the COGs on higher timeframes are going - but what timeframe should i be relying on for a confirmation direction of there COG's to support a 5min move - ie just confirmation of 15min COG direction or just 30min COG direction or 1 hour COG direction or all of these???
Often for example COG's will be pointing up on 5min, down on 15min, up on 30 min and down on a 1 hour graph all at exactly the same time. What does one do here - by principle if all of Ashur's rules confirm the move I should be entering a trade - but with such variation of COG direction it just makes me indecisive.
I suppose i am asking which timeframes have to confirm (with 5 min COG direction) and does it matter if there is discrepancy in COG directions in the manner that I detailed? Should i enter trades regardless?
Kind Regards
Mike
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