OPEN-SOURCE SCRIPT
Center Of Gravity Oscillator
Aktualisiert
The COG Oscillator (center of gravity) is an indicator based on statistics and the Fibonacci golden ratio. It uses ALMA as a trigger and LSMA as "zero line". The trigger is set tight by default but can be tweaked by adjusting the window size and sigma in settings. This is a great indicator for setting up trades and spotting reversals. There are 2 main strategies that come with this indicator:
Strategy 1: Long positions are entered when current low point is higher than previous low. Short positions are entered as current high is lower than previous high. (Shown in image above)
Strategy 2 : If market is bullish long trades are entered as COG line crosses over red LSMA line. Traders have the option of scalping the first crossover or even scaling out of trade to close on second exit. This works the opposite for shorts when market is bearish.
Above shows different configurations of the indicator. Top shows length of 50, Middle has length of 21 and bottom is default 9.
Strategy 1: Long positions are entered when current low point is higher than previous low. Short positions are entered as current high is lower than previous high. (Shown in image above)
Strategy 2 : If market is bullish long trades are entered as COG line crosses over red LSMA line. Traders have the option of scalping the first crossover or even scaling out of trade to close on second exit. This works the opposite for shorts when market is bearish.
Above shows different configurations of the indicator. Top shows length of 50, Middle has length of 21 and bottom is default 9.
Versionshinweise
Added some extra features that can be turned on in settings:- Fibonacci Levels
- RMA smoothing
- High/Low levels
- Price line (helps identify price breaking previous high/low)
Versionshinweise
Added 2 new themes : Fibonacci and Fibonacci 2Versionshinweise
Added "clean" theme. This theme is the same settings I use, cog length: 9, smoothing on with smoothing length: 9. It also uses SMA as the trigger.Sometimes I also use cog length: 50 to find more significant pivots. Open-source Skript
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