This trend indicator shows direction of a trend on the current time interval. The indicator considers volatility of the currency pair, so it can be used for determining a spot for placing a stop loss order. It is easy to set and has only one adjustable parameter. Examples of the indicator operation can be found in the screenshot, or you can download and test its demo version.
Parameters
- Period - Period (number of bars) to calculate the indicator.
- The lower limit of the cloud - Configuring the lower border of the cloud;
- The upper limit of the cloud - Configuring the upper border of the cloud;
- Show Price Label - Enabling / disabling a price tag.
Please note that the value of " The lower limit of the cloud " parameter must be less than the value of " The upper limit of the cloud " parameter.
