The COGMACD forex trend indicator is based on the highly popular MACD technical indicator.
This indicator includes an interesting trend-following channel wrapped around the MACD bars.
It’s more easy now to discover the true trend as follows:
- The trend is seen to be positive when the channel is sloping up.
- The trend is seen to be negative when the channel is sloping down.
Better performance trading with the COGMACD indicator.
Go long on the following conditions:
- Channel must be sloping up.
- MACD colored bars turn Olive from Tomato.
Go short on the following conditions:
- Channel must be sloping down.
- MACD colored bars turn Tomato from Olive.
Feel free to experiment with the different indicator’s inputs settings to suit your needs and preferences.
The EUR/USD 15-Minute chart below displays the COG MACD Trend Metatrader 4 forex indicator in action.
Basic Trading Signals
Signals from the COG MACD Trend MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open a buy trade when the trend channel is sloping up and the MACD bars turn back to Olive from Tomato color.
Place a stop loss below support or use your own preferred SL method.
Sell Signal: Open a sell trade when the trend channel is sloping down and the MACD bars turn back to Tomato from Olive color.
Place a stop loss above resistance or use your own preferred SL method.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (bars back, fma, sma, sigma, fib band, m, j) Width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly
Copy and paste the cogmacd-v2-indicator.ex4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)