COG RSI Indicator
Platform: MT4 Type: Oscillator Last update: October 6, 2024The COG RSI Indicator is, as the name suggests, a forex trading tool based on the Center of Gravity and Relative Strenght Index (RSI).
The indicator is displayed in a sub window placed just below the main trading chart.
This tool uses overbought and oversold market levels to generate trading signals, that are triggered when these values turn from negative to positive and vice versa.
Related: RSI Divergence Indicator MT4
How to apply cog rsi in trading?
Signals provided by the COG RSI Indicator shouldn’t cause you any difficulties. Take attention to details and simply follow the suggestions below.
Buy Entry: Open long trade when the RSI drops below 30 level, then reverse and crosses the yellow dotted line. The RSI should be colorized to dark red. Place your stop loss a few pips below last swing low.
Sell Entry: Open short trade when the RSI goes above 70 level, then reverse and crosses the yellow dotted line. The RSI should be colorized to dark blue. Place your stop loss a few pips below last swing low.
Exit Trade / Take Profit: Close your open position when an opposite signal occurs, or use your own preferred method of trade exit.
Example of EUR/AUD H1 Chart
This screenshot below shows an example of COG RSI in action.
