Forex Super Cloud is a free mt4 (Metatrader 4) indicator that reveals the real trend with the help of a bi-colored cloud.
The indicator pops up the main MT4 chart window as a trend cloud.
Super cloud is a pretty accurate trend-following indicator that’s simple to use.
Buy & Sell Trade Example
- A new buy position should be opened as soon as the super cloud indicator turns back to green.
- A new sell position should be opened as soon as the super cloud indicator turns back to red color.
The Forex Super Cloud indicator can be used for both trade entry and exit, or as an additional confirmation filter for other strategies and systems.
The indicator works equally well on all currency pairs (majors, minors, and exotics) and shows promising results when used correctly.
Free Download
Download the “forex-cloud-indicator.ex4” indicator for MT4
Indicator Chart (USD/CAD H4)
The example chart below displays the Forex Super Cloud mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Forex Super Cloud indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Cloud trading
Does the indicator repaint? No.
Intraday Scalping Strategy: Super Cloud & Coppock MT4 Indicators
This intraday scalping strategy combines the trend-following power of the Super Cloud Indicator with the momentum insights of the Coppock MT4 Indicator.
Designed for active traders, this approach aims to capture short-term price movements by identifying clear trend directions and confirming momentum shifts.
It is particularly effective on 5-minute and 15-minute charts across various currency pairs.
Buy Entry Rules
- Enter a buy trade when the Super Cloud Indicator is green, indicating a bullish trend.
- Confirm the bullish momentum with the Coppock MT4 Indicator displaying a positive histogram above the zero line.
- Place a stop loss just below the most recent swing low to protect against unexpected reversals.
- Set a take profit target at a 1:1.5 risk-to-reward ratio or exit when the Coppock MT4 Indicator shifts to a negative histogram below the zero line, indicating a weakening trend.
Sell Entry Rules
- Enter a sell trade when the Super Cloud Indicator is red, indicating a bearish trend.
- Confirm the bearish momentum with the Coppock MT4 Indicator displaying a negative histogram below the zero line.
- Place a stop loss just above the most recent swing high to limit potential losses.
- Set a take profit target at a 1:1.5 risk-to-reward ratio or exit when the Coppock MT4 Indicator shifts to a positive histogram above the zero line, indicating a weakening trend.
Advantages
- Combines trend direction with momentum confirmation for higher probability trades.
- Adaptable to various currency pairs and timeframes, offering flexibility for traders.
- Clear entry and exit points reduce decision-making time and enhance trading efficiency.
- Effective in capturing short-term price movements, suitable for scalping strategies.
Drawbacks
- Requires active monitoring of charts to manage trades effectively.
- False signals may occur during sideways or choppy market conditions.
- Spread and slippage can impact profitability, especially on lower timeframes.
Example Case Studies
Case Study 1: USD/CHF 5-Minute Chart
At 10:15 AM, the Super Cloud Indicator turned green, indicating a bullish trend.
The Coppock MT4 Indicator confirmed the momentum with a positive histogram above the zero line.
A buy trade was executed at 0.9205 with a stop loss at 0.9195 and a take profit target at 0.9220.
The trade reached the take profit level within 25 minutes, yielding a 15-pip profit.
Case Study 2: GBP/JPY 15-Minute Chart
At 2:30 PM, the Super Cloud Indicator turned red, indicating a bearish trend.
The Coppock MT4 Indicator confirmed the momentum with a negative histogram below the zero line.
A sell trade was executed at 165.00 with a stop loss at 165.10 and a take profit target at 164.85.
The trade reached the take profit level within 45 minutes, yielding a 15-pip profit.
Strategy Tips
- Utilize a low spread broker to minimize trading costs, especially on short-term trades.
- Avoid trading during major economic news releases to reduce volatility risk.
- Always wait for both the Super Cloud Indicator and Coppock MT4 Indicator to align before entering a trade.
- Practice proper risk management by risking only a small percentage of your trading capital per trade.
Download Now
Download the “forex-cloud-indicator.ex4” indicator for Metatrader 4
