Discover the trend scanning accuracy of the Center of Gravity Forex strategy.
Both experienced and inexperienced currency traders can secure good buy and sell entry and exit signals from this strategy.
Lets quickly take you through its workings, as you get acquainted to this incredibly forex trading strategy.
MetaTrader4 Indicators: Center of Gravity v 3.ex4 (Inputs Variable Modified; Bars Back=1000, Method=Arc, Beginning=2, Multiplier=0.05), fxprime.ex4 (Default Setting)
Preferred Time Frame(s): 1-Minute, 5-Minute, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week
Recommended Trading Sessions: Any
Currency Pairs: Any pair
Buy Trade Example
Long Entry Rules
Enter a bullish trade if the following indicator or chart pattern gets put on display:
- If the price bar opens and closes above the arcs of the Center of Gravity v 3 Metatrader 4 forex indicator as depicted on Fig. 1.0, the market is said to be tilting in favor of the bulls, therefore a buy alert will suffice.
- If the lime horizontal bar of the fxprime custom indicator pops up within its window as shown on Fig. 1.0, the overall market sentiment is said to be bullish i.e. a trigger to go long on the selected currency pair.
Stop Loss for Buy Entry: Place stop loss 3 pips below support.
Exit Strategy/Take Profit for Buy Entry
Exit or take profit from all trades if the following rules or conditions takes precedence:
- If after a buy position(s) have been entered, price closes below the red upper outer arc of the Center of Gravity v 3 custom indicator, bulls power is said to be weaning, as such an exit or take profit is advised.
- If the fxprime custom indicator pops up a corn flower blue signal ball within its window as exemplified on Fig. 1.0, it is pointing to a likely bearish reversal, as such an exit or take profit is duly recommended.
Sell Entry Rules
Go short if the following setups gets displayed rightly on the activity chart:
- If the price bar opens and closes below the arcs of the Center of Gravity v 3 custom indicator as demonstrated on Fig. 1.1, the market is said to be driving price lower, therefore a sell alert will do.
- If the red horizontal bar of the fxprime technical indicator pops up within its window (refer to Fig. 1.1), the general market sentiment is said to be bearish i.e. a trigger to go short on the currency pair of focus.
Stop Loss for Sell Entry: Place stop loss 3 pips above resistance.
Exit Strategy/Take Profit for Sell Entry
Exit or take profit if the following takes center stage:
- If price bar closes above the lower outermost lime green arc of the Center of Gravity v 3 forex indicator while a bearish trend is running, bears power is said to be halting, as such an exit or take profit stance is apt.
- If the fxprime custom indicator pops up a corn flower blue signal ball within its window as depicted on Fig. 1.1, it is pointing to a probable bullish reversal, as such an exit or take profit is rightly advised.
Sell Trade Example
About The Trading Indicators
The Center of Gravity v 3 is a technical indicator that is dependent on statistics and Fibonacci golden ratios.
In most cases, the Center of Gravity v 3 forex indicator is deployed during channel trading.
The fxprime is a trend-following indicator that merges the Relative Strength Index, Commodity Channel Index and Moving Average into one enhanced trading tool.