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.
Free Download
Download the “cogmacd-v2-indicator.ex4” MT4 indicator
Indicator Chart (EUR/USD M15)
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.
COG MACD Trend + Keltner Channel MT4 Forex Strategy
This MT4 strategy combines the COG MACD Trend indicator with the Keltner Channel with Signals.
The COG MACD Trend identifies short-term trend reversals:
Open a buy when the trend channel slopes up and the MACD bars change from Tomato to Olive, and open a sell when the channel slopes down and bars change from Olive to Tomato.
The Keltner Channel adds confirmation with blue stars for bullish trends and brown stars for bearish trends.
Combining these two gives strong trend-aligned entries suitable for M15 and H1 charts.
Buy Entry Rules
- Wait for the COG MACD Trend channel to slope upward.
- Confirm the MACD bars turn from Tomato to Olive, signaling bullish momentum.
- Look for a blue star on the Keltner Channel as additional confirmation.
- Enter a buy trade at the close of the confirming candle.
- Place a stop loss below the recent swing low or the lower Keltner line.
- Set a take profit near the next resistance level or use a 1.5:1 reward-to-risk ratio.
Sell Entry Rules
- Wait for the COG MACD Trend channel to slope downward.
- Confirm the MACD bars turn from Olive to Tomato, signaling bearish momentum.
- Look for a brown star on the Keltner Channel for additional confirmation.
- Enter a sell trade at the close of the confirming candle.
- Place a stop loss above the recent swing high or the upper Keltner line.
- Set a take profit near the next support level or use a 1.5:1 reward-to-risk ratio.
Advantages
- Combines trend slope and momentum for reliable entries.
- Keltner Channel signals provide visual confirmation of trend direction.
- Works well on multiple timeframes, including M15 and H1.
- Helps filter out counter-trend trades and reduces false signals.
- Clear visual signals make it easy to follow.
Drawbacks
- Requires patience for proper trend alignment before entering trades.
- Not ideal for scalping on very low timeframes.
- Performance may vary across different currency pairs.
Example Case Study 1
On EURUSD H1, the COG MACD Trend channel sloped upward, and the MACD bars changed from Tomato to Olive.
A blue star appeared on the Keltner Channel, confirming bullish momentum.
A buy trade was entered at 1.1120 with a stop loss at 1.1100 and a take profit at 1.1160.
Price followed the trend and reached the target, yielding +40 pips.
Example Case Study 2
On GBPJPY M15, the COG MACD Trend channel sloped downward, and the MACD bars switched from Olive to Tomato.
A brown star appeared on the Keltner Channel, confirming bearish momentum.
A sell trade was opened at 154.25 with a stop loss at 154.45 and a take profit at 153.80.
The pair moved downward and hit the target, resulting in +45 pips.
Strategy Tips
- Use higher timeframe analysis for context before taking M15 trades.
- Consider partial exits or trailing stops in strong trending moves.
- Pairs like EURUSD, GBPJPY, AUDUSD, and USDJPY often provide clear signals and good liquidity.
Download Now
Download the “cogmacd-v2-indicator.ex4” Metatrader 4 indicator
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
Type: oscillator
