Center Of Gravity COG

COG stands for Center Of Gravity and is based on the cycle work of Hurst; they are Hurst bands. Hurst's theory was all that instruments move in a cycle and this cycle will show up in highs and lows. Prices tend to regress toward the mean, which is represented by the blue center-line. The band above and below the center-line represent the sigmas of the actual data points from the mean center-line. There is only a 5% chance price will exceed the sigma line. So when price reaches these channels a reverse trade can be taken.

They are designed to exploit the cycle of the underling much like the RSI indicator prem which is typically 14 i.e. 14 up and 14 down is one cycle on the daily = 28 days (one moon cycle).