The Center of Gravity oscillator, developed by John Ehler, produces less lag indicating pivot points. The indicator was the result of studies of adaptive filters.
Configuration Options
- Period: Number of days in the to use for calculations.
- Field: Price or combination of prices to use as the base for average calculations. Possible values include:
- Open
- High
- Low
- Close
- Adjusted Close
- HL/2 ( left ( frac{High + Low}{2} right ) )
- HLC/3 ( left ( frac{High + Low + Close}{3} right ) )
- HLCC/4 ( left ( frac{High + Low + Close + Close}{4} right ) )
- OHLC/4 ( left ( frac{Open + High + Low + Close}{4} right ) )
- Color Selectors: Colors to use for graph elements.
- Display Axis Label: Whether to display the most recent value on the Y axis.
Formula
[COG = frac{-sum P_{n}times left ( n+1 right )}{sum P_{n}}]