s rm cloud
Info
The s rm cloud is a Indicator for MetaTrader 5 that real hgcl2 the indicator utilizes the idea of adding to a bar open time the value equal to the average minimum swing from the open price for a few days or weeks, and the standard deviation from the average swing multiplied by a coefficient to determine the possible resistance level. it's vice versa for the support level.
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 s rm cloud
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
real hgcl2 the indicator utilizes the idea of adding to a bar open time the value equal to the average minimum swing from the open price for a few days or weeks, and the standard deviation from the average swing multiplied by a coefficient to determine the possible resistance level.
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: Ichimoku Cloud Indicator - another powerful indicator for MetaTrader 5 traders.
real
hgcl2
the indicator utilizes the idea of adding to a bar open time the value equal to the average minimum swing from the open price for a few days or weeks, and the standard deviation from the average swing multiplied by a coefficient to determine the possible resistance level. it's vice versa for the support level.
Also recommended: Three Ichimoku Cloud Moving Averages - similar indicator with strong performance on MetaTrader 5.
the minimum swing relative to the open price of a day or week is the lowest of the distances high - open and open - low.
resistance level of the indicator is:
r = open - k * av - k_std * std;
where:
av is the average minimum swing from the open price for a few days;
k - coefficient of the average minimum swing;
std - standard deviation from this minimum swing;
k_std - multiplier coefficient. (is available in the indicator settings).
for the support level:
s = open + k * av + k_std * std;
in contrast to the methods of finding support and resistance levels using gsv ('long-term secretes to short-term trading' by larry williams, chapter: 'greatest swing value'), all minimum swings of 4 and 9-day or week bars are used in calculation without separating divergent bars.
the mean swing value and its standard deviation are calculated separately for the period defined in the input parameters, and at the end of calculation the indicator selects the largest sum of the average swing and standard deviation multiplied by the coefficient. this ratio can be modified in the indicator settings window (the default is one, which means that one standard deviation is added to the mean minimal swing as a filter).
in this indicator version you can set any period. it also includes a built-in filter of weekend bars, i.e. weekend bars are combined with monday bars. the s and r levels for monday are calculated relativ eto the open price of the weekend bar. if monday's low is below the weekend bar's low, the monday's low will be used in calculations, and vice versa. similarly, for monday's and weekend bar's highs.
the original indicator was developed in the mql4 language and published in the
codebase
on 26.08.2013.
figure 1. the srm_cloud indicator
You may also like: x2 MA BBx3 Cloud - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_plots 1
#property indicator_type1 draw_filling
#property indicator_color1 clrpaleturquoise
#property indicator_label1 "srm_cloud"
enum applied_price_ // .......
⚠ 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.