A Non-Repainting COG Indicator Using Smoothed Median Prices

Summary

The document describes a chart indicator built from the median price, defined as the average of each bar’s high and low. It calculates a rolling mean over a configurable lookback, then applies a short triangular moving average to that series. The current value’s direction relative to its prior value determines whether the indicator displays an upward or downward arrow. Average true range is used to offset the arrows from the indicator line for display.

The example uses a lookback of 20 and an ATR period of 14, but provides no performance tests, signal rules for entering or exiting positions, or comparison with other indicators. Although the title calls the indicator non-repainting, the text does not explain or verify that property. It should therefore be treated as a construction example, not evidence of predictive value or a complete trading strategy.

Key ideas

• The indicator smooths a rolling average of bar median prices with a triangular moving average.
• It marks rising values with upward arrows and falling values with downward arrows.
• Average true range offsets the arrows visually from the indicator line.
• The document offers no backtest evidence or complete trading rules, and does not substantiate its non-repainting claim.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.