The Center of Gravity indicator for Metatrader 5 delivers solid FX signals that work for both beginners and seasoned currency traders.
The buy and sell signals are displayed in a separate chart window and can be used for both trade entry and exit.
How does it work?
- A green colored signal line indicates an uptrend.
- A red colored signal line indicates a downtrend.
For maximum profit when trading off the M1 and M5 price charts, deploy the indicator on the lower spread currency pairs.
The indicator contains the following inputs and parameters: period (32), price, and change color method.
Make yourself familiar with this technical indicator and test it first on a demo account.
Remember to have realistic expectations, performance will vary depending on market conditions (trending markets, sideways markets, etc.).
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Center of Gravity – extended.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Center of Gravity indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Center of Gravity Forex Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal occurs when the green colored Center of Gravity line appears in the bottom chart.
- Open a buy trade and place your stop loss order below the previous swing low.
- Exit the buy trade for a risk/reward ratio of at least 1:1, or wait for a sell signal.
Sell Signal
- A sell signal occurs when the red colored Center of Gravity line appears in the bottom chart.
- Open a sell trade and place your stop loss order above the previous swing high.
- Exit the sell trade for a risk/reward ratio of at least 1:1, or wait for a buy signal.
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Center of Gravity – extended.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Center of Gravity – extended.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration