Cloud Indicator MetaTrader 4 Download - Free - [TradingFinder]

The Cloud Indicator is a technical analysis tool that, unlike the Ichimoku Cloud Indicator (Ichimoku Cloud), is composed of a combination of two ATR Trailing Stops.

The clouds formed by this indicator eliminate price noise, making trend detection in the Forex market more effective. Additionally, entry and exit positions can be identified by analyzing price interactions and breakouts with these levels.

This MetaTrader 4 indicator displays bullish clouds in green and bearish clouds in red for better trend visualization.

Cloud Indicator Specifications Table

The table below details the features of the Cloud Indicator:

Buy Entry Signal

According to the GBP/USD currency pair chart in the 15-minute timeframe, the formation of green clouds below the price indicates an uptrend.

Price interactions with the cloud also serve as buy entry signals (Buy).

Sell Entry Signal

According to the Binance Coin (BNB) cryptocurrency chart analysis in the 1-hour timeframe, a red cloud above the price indicates a bearish trend.

In this situation, price candles interact with the cloud to provide sell entry opportunities (Sell).

Cloud Indicator Settings

The following table outlines the adjustable settings of the Cloud Indicator:

• Factor: Determines the width of the clouds
• ATR Period: Setting related to Average True Range (ATR) calculations
• Back Period: Number of past candles used for indicator calculations
• SEND_ALERT: Enables alerts when a signal is generated
• SEND_MAIL: Activates email notifications for alerts

Conclusion

The Cloud Indicator is developed to identify trend direction and optimize entry and exit points in trading. Additionally, the clouds formed by this MT4 support & resistance indicator serve as key price reaction levels.

One of the features of the Cloud Indicator is its ability to send email alerts when a signal is generated.