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Forex Indicator “SRm_Cloud”

This indicator displays the idea of adding to the ledge opening price the average minimum fluctuation from the opening price for a few days or weeks and the standard deviation from this average vibration, multiplied by some coefficient to determine the likely level of resistance.

The calculation for the value of the average fluctuation and its standard deviation is carried out separately for the period determined in the input parameters. Then the greatest value of the average and standard deviation fluctuations is chosen, and multiplied by a coefficient. This coefficient can be changed in the Settings window of the indicator (by default it equals one, which means adding one standard deviation to the average minimal fluctuation as a filter).

This indicator can be set for any time. There is also an integrated filter of output bars. It means that the weekend ledges are combined with Monday ledges. S and R Monday levels are calculated with respect to the opening of the output bar. If the Monday minimum is lower than the minimum of the ledge output, the Monday minimum will be used in the calculation, and vice versa. Similarly, for Monday's maximum and an output ledge.

 

Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. 

 

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