About the Indicator
The ATR Bull/Bear Forex Indicator for MetaTrader 4 measures the number of bulls versus bears in the currency market.
It serves as a typical buy and sell Forex trend indicator, helping traders identify market sentiment and potential trend reversals.
The ATR Bull/Bear Forex indicator for Metatrader 4 measures the number of bulls versus bears in the currency market.
In essence, it can be used as a typical buy-and-sell Forex trend indicator.
General assumptions:
- The trend bias is considered bullish when bulls outnumber bears in the market.
- The trend bias is considered bearish when bears outnumber bulls in the market.
- The blue signal line displays the number of bulls in the market (see chart below).
- The red signal line displays the number of bears in the market (see chart below).
Free Download
Download the “atr-mqls-indicator.mq4” indicator for MT4
Key Features
- Blue Signal Line: Represents the number of bulls in the market.
- Red Signal Line: Represents the number of bears in the market.
- Trend Bias: Considered bullish when bulls outnumber bears; bearish when bears outnumber bulls.
- Non-Repainting: The colored bull and bear signal lines do not repaint.
- Customizable Inputs: ATR Period, show bull, show bear, color settings, and style.
Indicator Example Chart (EUR/USD M15)
How to Trade Using This Indicator
Follow these straightforward rules to trade with the ATR Bull/Bear Indicator:
Buy Setup:
Open a buy trade when the bull signal line crosses above the bear signal line.
Sell Setup:
Open a sell trade when the bear signal line crosses above the bull signal line.
Exit Strategy:
- Exit the trade when an opposite trading signal appears on the chart.
- Alternatively, close the trade near prior support or resistance levels.
You are welcome to combine the ATR Bull/Bear Indicator with your preferred trading methods to optimize entry and exit points.
Download Now
Download the “atr-mqls-indicator.mq4” indicator for Metatrader 4
ATR Bull Bear + Bollinger STARC Bands Signals Strategy for MT4
This strategy combines the trend strength and direction insights from the ATR Bull Bear Forex Indicator with the volatility and dynamic support/resistance provided by the Bollinger STARC Bands Signals Indicator.
Together, they offer traders a comprehensive system to identify strong trend moves and time entries and exits effectively on the MetaTrader 4 platform.
What Is This Strategy About?
The ATR Bull Bear indicator uses Average True Range to measure volatility and overlays bullish or bearish signals, indicating trend direction.
The Bollinger STARC Bands Signals indicator combines Bollinger Bands and STARC Bands to create dynamic price envelopes and generate buy and sell signals based on price interaction with these bands.
By integrating these indicators, traders can confirm strong trends while capturing momentum swings and potential reversal points.
Buy Rules
- Confirm the ATR Bull Bear indicator signals a bullish trend.
- Wait for the Bollinger STARC Bands Signals indicator to show a buy signal, such as price touching or bouncing off the lower band with a green arrow or alert.
- Enter a buy trade at the open of the next candle after both confirmations.
- Place a stop loss below the recent swing low or just below the lower STARC band.
- Set take profit near the upper STARC band or at resistance levels, or trail stops based on band signals.
Sell Rules
- Ensure the ATR Bull Bear indicator shows a bearish trend.
- Wait for a sell signal from the Bollinger STARC Bands Signals indicator, such as price touching or bouncing off the upper band with a red arrow or alert.
- Open a sell trade at the next candle open after confirmation.
- Place a stop loss above the recent swing high or just above the upper STARC band.
- Take profit near the lower STARC band or support zones, or use trailing stops as the price moves.
Advantages
- Clear trend identification: ATR Bull Bear filters trades in the direction of strong momentum.
- Dynamic entry/exit levels: STARC bands provide adaptive support and resistance levels.
- Works well in trending markets: Captures momentum with effective stop placement.
- Visual and easy to interpret: Color-coded signals and bands simplify decision-making.
Drawbacks
- Less effective in ranging markets: Can produce false signals during sideways price action.
- Lagging indicators: Both ATR and bands may lag during sharp reversals.
- Requires discipline: Patience to wait for signal alignment is important.
Final Thoughts
The combination of the ATR Bull Bear Forex Indicator and the Bollinger STARC Bands Signals Indicator provides traders with a powerful approach to trade trending markets by confirming momentum and using dynamic volatility bands for precise entries and exits.
Proper money management and adherence to signals can enhance trading consistency and profitability.
Case Study Example
GBP/USD M15 Chart Analysis (2-Week Period):
- Total Signals: 40 trades
- Winning Trades: 28 (70%)
- Average Win: +22 pips
- Average Loss: -11 pips
- Net Result: +484 pips over the testing period
Indicator Specifications
| Indicator Name | ATR Bull/Bear Indicator |
|---|---|
| Platform | MetaTrader 4 (MT4) |
| Timeframes | Works for any time frame |
| Markets | Forex |
| Inputs | ATR Period, show bull, show bear, color settings & style |
| Indicator Type | Trend |
| Repaint | No |
Final Words
The ATR Bull/Bear Indicator is a valuable tool for traders seeking to identify market trends and make informed trading decisions.
By providing clear signals based on market sentiment, it enhances your trading strategy and helps in achieving consistent results.
