The Real Cloud Metatrader 4 forex indicator is a technical tool that combines two moving averages to create a price cloud on the activity chart.
The Real Cloud indicator can be used to check for buy/sell trends on the current timeframe.
The indicator can also be used as a tool that defines support and resistance, as well as momentum for a currency pair.
The clouds are uniquely colored to gauge market trends, with the aqua and magenta colored clouds indicating bullish and bearish price sentiments respectively.
The positioning of the clouds is also a pointer to price momentum.
The farther price is away from the cloud, the stronger the market trend.
The USD/JPY H1 chart below displays the Real Cloud Metatrader 4 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the Real Cloud Metatrader 4 forex indicator forms an aqua cloud that is positioned fairly below the candlesticks.
Sell Signal: Go short when the Real Cloud Metatrader 4 forex indicator forms a magenta cloud that is positioned above the candlesticks.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the Real Cloud indicator displays a magenta cloud.
Exit sell trade: Close all sell orders if while a bearish trend is running, the Real Cloud indicator pops up an aqua cloud.
Tips: The cloud indicator can be used as a standalone buy/sell technical indicator and works for scalping, day trading and swing trading.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern indicator
Customization options: Variable (TimeFrame1, TimeFrame2, Period1, Period2, Method, Metho1, Metho2, Price, Price1, Price2), width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the real-cloud.ex4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)