Center of Gravity – extended – indicator MetaTrader 5
by
Theory:
The original (to the letter as described) version of Center of Gravity was published here : Center of Gravity – Ehlers. But, as described there, the original lacks what we could use as “significant level(s)” (not even zero can be used on the original version).
This version:
In this version a correction in the calculation is added that allows us to have the zero level as a “significant level”. Due to that change, 3 color change methods are added in the options:
color change on signal / trigger line cross (the default)
color change on level zero cross
color change on slope change
Usage:
Depending on the way you desire to use it (by setting the color change method) you can use that color change as a signal.
