Cloud Indicators MetaTrader 4 Download - Free | Forex Indicators Download - MT4/MT5 Resources
The Cloud Indicator is a technical analysis tool unlike the Ichimoku Cloud Indicator (Ichimoku Cloud), which is a combination of two ATR Trailing Stops.
The cloud formed by this indicator eliminates price noise and makes trend detection in the Forex market more effective. Additionally, entry and exit positions can be determined by analyzing price interactions and breakouts of these levels.
This MetaTrader 4 indicator shows bullish clouds in green and bearish clouds in red for better trend visualization.
Cloud Metrics Specification Sheet
The following table details the characteristics of cloud metrics :
| Indicator categories: | MT4 Support and Resistance Indicators Signals and Predictions MT4 Indicators MT4 indicator levels |
| Platforms: | MetaTrader 4 Indicators |
| Trading Skills: | Elementary |
| Indicator Types: | Leading MT4 Indicators Reversal MT4 Indicators |
| Time frame: | Multi Time Frame MT4 Indicators |
| Trading Style: | Day Trading MT4 Indicators Intraday MT4 Indicators Scalper MT4 Indicators |
| Trading Tools: | Stock MT4 Indicator Index Market MT4 Indicator Commodity Market MT4 Indicator Stock Market MT4 Indicator Cryptocurrency MT4 Indicator Forex MT4 Indicator |
Cloud metrics at a glance
Entry and exit positions in this indicator are determined by the price's position relative to the cloud. When green clouds form below the price, it signals a bullish trend.
Conversely, when a red cloud appears above the price, it signals a bearish trend. Furthermore, the clouds formed by this indicator are also considered support and resistance zones.
Buy Entry Signal
According to the GBP/USD currency pair chart, a green cloud forming below the price on the 15-minute time frame indicates an uptrend.
Interacting with Cloud's price can also serve as a buy entry signal (Buy).
Sell Entry Signal
According to the Binance Coin (BNB) cryptocurrency chart analysis on the 1-hour timeframe, the red cloud above the price indicates a bearish trend.
In this case, the price candle interacts with the cloud to provide a sell entry opportunity (Sell).
Cloud indicator settings
The following table outlines the adjustable settings cloud metrics:
- Factor: determines the width of the cloud
- ATR Period: Setting related toAverage True Range(ATR) calculations
- Back Period: Number of past candles used for indicator calculations
- SEND_ALERT: Enable alert when signal is generated
- SEND_MAIL: Email notification to activate alert
Conclusion
Cloud indicators were developed to identify trend directions and optimize entry and exit points in trading. Additionally, the clouds formed by this MT4 Support and Resistance indicator serve as key price reaction levels.
One of the features of this trading tool is its ability to send email alerts when a signal is generated.
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