Gaussian Gator for MT4 is a non-repaint trend-following Rainbow colored Forex indicator that’s primarily based on the Gaussian trading algorithm.
The indicator pops up in the main MT4 chart window as a Rainbow that follows the overall trend.
Buying and selling currency pairs with this indicator is considered an easy task.
Buy & Sell Trade Example
- Buy the currency pair whenever the candlestick is positioned above the Rainbow (strong uptrend).
- Sell the currency pair whenever the candlestick is positioned below the Rainbow (strong downtrend).
- Close and reverse the open position whenever an opposite trading signal gets printed on the chart.
For scalping and day trading on M1, M5, and M15 charts, the indicator tends to work best during the London and American trading sessions.
The Gaussian Gator 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 exotic) and shows promising results if used correctly.
Free Download
Download the “Gator.mq4” indicator for MT4
Indicator Chart (EUR/USD M1)
The example chart below displays the Gaussian Gator mt4 indicator in action on the trading chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Gaussian Gator 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: Trend
Does the indicator repaint? No.
Gaussian Gator + Trend Predictor MT4 Day Trading Strategy
This strategy combines the powerful Gaussian Gator Forex Indicator MT4 and the Trend Predictor v1.0 Forex Indicator MT4 to capture intraday trends with high accuracy.
By using one indicator to confirm the trend direction and the other for precise entry points, traders can make informed decisions for day trading.
This system works best on 15-minute, 30-minute, and 1-hour charts.
It is suitable for both beginners and experienced traders who want clear rules and a structured approach to intraday trading.
Buy Entry Rules
- Check the Gaussian Gator MT4: the candlestick must close above the rainbow, indicating a bullish trend.
- Wait for a blue buy arrow from the Trend Predictor v1.0 MT4.
- Enter a buy trade at the close of the arrow candle.
- Place a stop loss below the nearest swing low or rainbow support.
- Set take profit at a 1:2 risk/reward ratio or near the next resistance level.
Sell Entry Rules
- Check the Gaussian Gator MT4: the candlestick must close below the rainbow, indicating a bearish trend.
- Wait for a red sell arrow from the Trend Predictor v1.0 MT4.
- Enter a sell trade at the close of the arrow candle.
- Place a stop loss above the nearest swing high or rainbow resistance.
- Set take profit at a 1:2 risk/reward ratio or near the next support level.
Advantages
- Combines trend confirmation with precise entry signals.
- Clear and easy-to-follow rules suitable for day trading.
- Reduces false entries during sideways markets.
- Works well across multiple currency pairs.
- Helps maintain disciplined trading and risk management.
Drawbacks
- Sideways or choppy markets can produce false signals.
- Requires patience to wait for proper trend confirmation.
- Stop loss may be triggered during temporary retracements.
- Frequent monitoring is needed for intraday trading.
Case Study 1: EUR/USD 30-Minute Chart
On March 15, the EUR/USD was trending above the Gaussian Gator rainbow.
A blue arrow from the Trend Predictor appeared at 10:45.
A buy trade was executed at 1.1035 with a stop loss at 1.1010 and a take profit at 1.1075.
The trade reached take profit after 2 hours, capturing 40 pips with proper risk management.
Case Study 2: GBP/USD 15-Minute Chart
On April 2, GBP/USD closed below the Gaussian Gator rainbow, signaling a bearish trend.
A red sell arrow appeared on the Trend Predictor at 13:15.
The trade was entered at 1.3150, stop loss at 1.3175, and take profit at 1.3100.
The trade successfully hit the target within 90 minutes, earning 50 pips.
Strategy Tips
- Use major currency pairs for higher accuracy, such as EUR/USD, GBP/USD, and USD/JPY.
- Confirm trades with the overall market trend or news events to avoid volatility spikes.
- Keep your lot size consistent and manage risk carefully.
- Do not enter trades if the arrow appears against the Gaussian Gator trend.
- Regularly check multiple timeframes for trend alignment before trading.
