Cloud Indicator MetaTrader 5 Download - Free - [TradingFinder]

The Cloud Indicator filters out excessive price fluctuations by drawing colored clouds, helping traders identify major trends in Forex and other markets. 

Price breakouts and interactions with these levels also provide optimal entry and exit opportunities for trades.

Unlike the Ichimoku Cloud Indicator (Ichimoku Cloud), this MT5 signals & forecasting indicator is based on the combination of two ATR Trailing Stops, displaying green bullish clouds and bearish red clouds.

Cloud Indicator Specifications Table

The table below outlines the features and capabilities of the Cloud Indicator:

Uptrend Conditions 

According to the 1-hour NZD/USD currency pair chart, green clouds below the price indicate a bullish market trend.

Additionally, when the price touches the cloud, it creates an ideal buy entry (Buy) opportunity.

Sell Entry Conditions 

Based on the Ethereum (ETH) cryptocurrency chart, the formation of red clouds above the price signals a bearish trend.

In this scenario, the points where the candlesticks touch the cloud can be considered sell entry (Sell) signals.

Cloud Indicator Settings

The following table presents the adjustable parameters and settings of the Cloud Indicator:

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

Conclusion

The Cloud Indicator is designed to identify trend direction and optimize entry and exit points in trading. The cloud levels created by this MT5 level indicator serve as key price reaction zones.

Additionally, one of the most useful features of this indicator is its ability to send email alerts when trading signals are generated.