As the name of the indicator implies, the Forex cloud indicator for Metatrader 4 draws clouds above or below the market price.
Below the price means that the trend is moving upwards, above the price means that the trend is moving downwards.
Trading Signals
Buy: Wait for the price to move above the grey dotted line. The Forex cloud must be green.
Sell: Wait for the price to move below the grey dotted line. The Forex cloud must be red.
Tip: Many traders place a protective stop-loss above (sell) or below the cloud (buy).
Indicator Preferences
Currency pairs: any
Preferred Time frames: Suitable for 5 min charts and above.
Sessions: Around the clock
Download
Download the ForexCloud.ex4 indicator.
Configurable Indicator Options
Time frame, up color, down color, dotted line color
AUD/NZD Daily Time Frame Example
How to install the Forex Cloud Trend Prediction custom indicator in Metatrader 4?
- Download the ForexCloud.ex4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.