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.
- Period - Period (number of bars) to calculate the indicator.
Added the "The lower limit of the cloud" and "The upper limit of the cloud" parameters.
The "The lower limit of the cloud" parameter should be smaller than "The upper limit of the cloud".
Added the ability to display the price label on the chart (the Show Price Label parameter) of the current value of the cloud borders.