The Walk Cloud Easy Signals Metatrader 5 forex indicator is also known as Random Walk, as revealed by Ron Davis in his article “random Walk Revealed”.
The original poster of this indictor is William Feller, a known probability theorist and teacher.
The Walk Cloud Easy Signals Metatrader 5 forex indicator is a modification of the original version i.e. Random Walk – Ron Davis was able to make some changes to the calculation in this version.
In order to spot current prevailing currency trends, the indicator uses colored lines, along with colored zones.
Free Download
Download the “Drunkard walk.ex5” MT5 indicator
Example Chart
The EUR/JPY H1 chart below displays the Walk Cloud Easy Signals Metatrader 5 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the undotted line of the Walk Cloud Easy Signals Metatrader 5 forex indicator turns green, with a lavender cloud formed below the line.
Sell Signal: Go short when the undotted line of the Walk Cloud Easy Signals Metatrader 5 forex indicator turns red, with a misty rose cloud formed below the line.
Exit buy trade: Close all buy orders if while a bullish trend is ongoing, the lines (dotted and undotted) of the MT5 forex indicator crosses.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the lines (dotted and undotted) of the MT5 forex indicator crosses.
Tips: The Walk Cloud Easy Signals MT5 forex indicator can be used to a large extent to predict trend and its strength.
The wider the gap or the bigger the cloud between the dotted and undotted lines, the stronger the trend in review.
Download
Download the “Drunkard walk.ex5” Metatrader 5 indicator
MT5 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 5
Type: chart window indicator
Customization options: Variable (Drunkard walk period), Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend strength | oscillator
Installation
Copy and paste the Drunkard walk.ex5 indicator into the MQL5 indicators folder of the Metatrader 5 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL5 > Indicators (paste here)