Forex Cloud Indicator

Forex Cloud Indicator

Forex Cloud Indicator For MT4 plots a bullish and bearish cloud to identify the forex market trend and provides buy and sell forex trading signals.

The forex cloud indicator for MT4 provides bullish and bearish trend as a cloud. It plots the trend direction of a chart time frame in any lower time frame. As a result, it helps forex traders to identify the trend direction of a higher time frame chart and enter the markets in a lower chart time frame.

The indicator works best for new and advanced forex traders as it shows the trend direction as a cloud which is easy to follow. Though the indicator works on all time frames, a daily trend cloud plotted on a H1 price chart provides profitable trading signals compared to lower time frames.

Forex Cloud Indicator For MT4 Trading Signals

The above EURUSD H1 candlestick price chart shows the Forex cloud indicator for MT4 in action. The indicator plots the bullish cloud in green and bearish cloud in red. Additionally, the outer layers of the cloud are in silver.

The trading signals are pretty simple and are based on the crossover of the price and the cloud. If the price closes higher than the cloud and if the cloud color is green, then traders should enter the markets with a buy trade. A stop loss below the cloud is sufficient to secure the trade, however traders should exit the position in profits at an opposite trading signal.

Similarly, if the candlestick closes below the red bearish cloud it indicates the beginning of a down trend. So, forex traders should place a sell position.

Conclusion
The Forex cloud indicator is a simple and efficient indicator for trend following. The simple to use bullish and bearish cloud helps both new and advanced technical traders.