Introduction to the COG MACD Trend Indicator
The COG MACD Trend is a forex trend indicator based on popular Center of Gravity and Moving Average Convergence Divergence indicators.
That gauge gives an interesting trend-following channel wrapped around the MACD bars.
It’s really easy to follow the signals provided by the COG MACD indicator:
- The trend is considered to be bullish (uptrend) when the channel is sloping up and MACD bars turn olive color.
- The trend is considered to be bearish (downtrend) when the channel is sloping down and MACD bars turn tomato color.
It fits all kinds of timeframes and currency pairs.
The indicator is displayed in a separate window placed just below the main trading chart.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the COG MACD Trend indicator in MT4?
Copy and paste the cogmacd-v2-indicator.ex4 or cogmacd-v2-indicator.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The COG MACD Trend indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
COG MACD Trend Indicator Free Download
To download the COG MACD Trend Indicator for Metatrader 4 (MT4) for free just click the button below: