donchian fibo clouds
Info
The donchian fibo clouds is a Indicator for MetaTrader 5 that guilherme santos & luis guilherme damianithe indicator implemented as a cloud. originally this indicator has been written in mql5 and was first published in the on 22.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use donchian fibo clouds
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
guilherme santos & luis guilherme damianithe indicator implemented as a cloud.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Breakout Distance - Donchian Channel with Distance-to-Trigger Panel in ATR Units - another powerful indicator for MetaTrader 5 traders.
Also recommended: fibonacci structure engine - similar indicator with strong performance on MetaTrader 5.
guilherme santos & luis guilherme damianithe indicator implemented as a cloud.
originally this indicator has been written in mql5 and was first published in the on 22.05.2015.
fig.1. the donchian_fibo_cloud indicator
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_chart_window
#define indtotal 6 //
#define buftotal 12 // buftotal*2
#property indicator_buffers buftotal
#property indicator_plots indtotal
#property indicator_type1 draw_filling
#property indicator_color1 clrdodgerblue.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.