COBRA is based on a channel calculated from a moving average using a proprietary formula taking into consideration the recent movement of the market.
The calculation is automated. You do not need to look for the best settings for each currency or each timeframe.
- COBRA is a trend following indicator.
- The pullbacks respect the channel.
- Also the turning/reversal points when the channel is broken and the color changes.
- The only feature is "Draw Central Line" (true/false).
The screenshots show some examples of how COBRA can be used.