About the Gideos ATR Indicator
The Gideos ATR indicator for MT4 is a trend-following tool designed to provide precise trade entries and exits.
It plots a purple channel directly on the price chart that follows the market’s volatility and trend direction.
The channel slopes upward in bullish markets and downward in bearish markets, helping traders easily identify trend strength.
Traders can use it as a standalone trading tool or as a confirmation filter alongside other strategies.
The indicator simplifies decision-making by showing optimal buy and sell zones along the channel.
Its clear channel bands make it suitable for scalping, day trading, and swing trading.
Free Download
Download the “gideos-atr-indicator.mq4” indicator for MT4
Key Features
- Trend-following purple channel on the main MT4 chart
- Identifies rising and declining trends using ATR-based calculations
- Provides optimal entry points at channel bands
- Can be used for trade entries, exits, or trend confirmation
- Works on all MT4 timeframes and currency pairs
- Suitable for scalping, day trading, and swing trading
Indicator Chart
The chart example shows the Gideos ATR indicator on an MT4 chart.
The purple channel highlights the trend direction.
Buying is recommended near the lower band in an uptrend, while selling is recommended near the upper band in a downtrend.
Guide to Trade with Gideos ATR Indicator
Buy Rules
- Open a buy trade when the price touches the lower channel band and the channel is sloping up
- Confirm that the trend is bullish and momentum supports upward movement
- Enter at the close of the confirmation candle
Sell Rules
- Open a sell trade when the price touches the upper channel band and the channel is sloping down
- Confirm that the trend is bearish and momentum supports downward movement
- Enter at the close of the confirmation candle
Stop Loss
- For buy trades, place the stop loss just below the lower channel band
- For sell trades, place the stop loss just above the upper channel band
- Adjust stop distance based on timeframe and market volatility
Take Profit
- Target the opposite channel band as the primary exit
- Consider partial profit taking at mid-channel levels
- Adjust the take profit based on volatility and session conditions
Practical Tips
- Trade in the direction of the channel slope for higher probability setups
- Use higher timeframes to confirm the dominant trend
- Combine with momentum or trend indicators for stronger signals
- Stand aside when the channel flattens, as trends are weak or sideways
- Focus on currency pairs with clear volatility patterns for best results
Gideos ATR + Instant Profit Scalper MT4 M1/M5 Scalping Strategy
This scalping strategy combines the Gideos ATR Forex Indicator MT4 and the Instant Profit Scalper MT4 to capture fast intraday movements.
The Gideos ATR defines the short-term trend with its channel: a rising channel signals bullish momentum, and a declining channel signals bearish momentum.
The Instant Profit Scalper provides precise entry points with magenta buy arrows and yellow sell arrows.
This setup is ideal for M1 and M5 charts for quick scalping sessions.
Buy Entry Rules
- Trend confirmation: the Gideos ATR channel must be rising, indicating a bullish trend.
- Entry signal: wait for a magenta buy arrow from the Instant Profit Scalper to appear.
- Trade execution: enter a buy trade at the close of the arrow candle.
- Stop loss: Place a tight stop below the lower boundary of the ATR channel or recent swing low.
- Take profit: aim for a 1:1 or slightly higher risk/reward ratio, or exit at the upper channel boundary.
Sell Entry Rules
- Trend confirmation: the Gideos ATR channel must be declining, indicating a bearish trend.
- Entry signal: wait for a yellow sell arrow from the Instant Profit Scalper to appear.
- Trade execution: enter a sell trade at the close of the arrow candle.
- Stop loss: Place a tight stop above the upper boundary of the ATR channel or recent swing high.
- Take profit: aim for a 1:1 or slightly higher risk/reward ratio, or exit at the lower channel boundary.
Advantages
- Fast and precise entries for M1 and M5 scalping sessions.
- Combines trend confirmation with exact arrow signals to reduce false trades.
- Flexible across multiple currency pairs with tight spreads.
- Helps scalp small pip movements multiple times per session.
Drawbacks
- Requires high focus and fast execution due to very short timeframes.
- Sideways markets can generate false signals.
- Frequent trades may increase transaction costs on some brokers.
- Scalping is sensitive to spreads and slippage, especially during low liquidity.
Case Study 1: EUR/USD M1 Chart
On June 10, the Gideos ATR channel was rising.
A magenta buy arrow appeared on the Instant Profit Scalper at 09:15.
A buy trade was entered at 1.1025, stop loss at 1.1020, take profit at 1.1035.
The trade closed in 5 minutes with 10 pips profit.
Case Study 2: USD/JPY M5 Chart
On June 12, the Gideos ATR channel was declining.
A yellow sell arrow appeared at 11:30.
A sell trade was entered at 149.85, stop loss at 149.95, take profit at 149.70.
The trade reached take profit in 15 minutes, netting 15 pips.
Strategy Tips
- Use major currency pairs with low spreads for scalping.
- Avoid trading during major news releases to reduce volatility risk.
- Keep lot sizes small and follow strict risk management.
- Confirm trend direction with the ATR channel before entering a trade.
- Consider using a trailing stop for longer M5 scalps to maximize profit.
Download Now
Download the “gideos-atr-indicator.mq4” indicator for Metatrader 4
FAQ
Can the Gideos ATR indicator be used for scalping?
Yes. On lower timeframes, the channel helps identify quick entry and exit points, but confirmation from higher timeframes is recommended.
How do I know if the trend is strong?
A strong trend is indicated when the channel slope is steep and consistent, with price frequently respecting the channel bands.
Can I use it alongside other indicators?
Yes. Many traders combine it with moving averages, RSI, or other trend-following tools to confirm entries and avoid countertrend trades.
What if the channel flattens?
A flat channel signals low volatility or sideways movement. Traders should avoid new positions until the trend resumes.
Summary
The Gideos ATR indicator for MT4 helps traders identify trends and optimal entry points along a purple ATR channel.
Its clear visual signals and channel slopes allow precise trade entries and exits.
It works effectively when combined with trend-following tools such as moving averages or momentum indicators.
This combination increases trade accuracy and helps traders align entries with the overall market direction.
With disciplined execution, the Gideos ATR indicator can enhance both short-term and swing trading strategies.
