The Vidya Bands Forex indicator for Metatrader 4 represents a colored buy/sell bands system that follows the overall market trends.
The Vidya Bands consist of the CMO, moving average and average true range technical indicators.
After loading the indicator on the chart, the 3-colored bands system will pop up on the main activity chart (see chart example below).
Buy & Sell Trade Example
- Open a new buy position when the bands are sloping up and the price reaches the lower green band.
- Open a new sell position when the bands are sloping down and the price reaches the upper red band.
The indicator is very reliable, lightweight, and will not slow down your trading platform.
Vidya Bands can also work together with any existing trading strategy or Forex system.
Free Download
Download the “Vidya bands.mq4” indicator for MT4
Indicator Chart (EUR/USD M5)
The example chart below shows the Vidya Bands mt4 indicator in action.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method when trading with the Vidya Bands Forex indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
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: Bands
Does the indicator repaint? No. It dynamically updates the bands in real-time.
VIDYA Bands + Waddah Attar MT4 Forex Scalping Strategy
This scalping strategy combines the VIDYA Bands Forex Indicator for MT4 with the Waddah Attar Forex Scalping Indicator for MT4.
It is designed for fast-paced intraday trading on M1 and M5 charts, helping traders identify trend direction and precise entry points.
The VIDYA Bands indicate the market trend based on the slope of the bands, while the Waddah Attar histogram provides buy and sell signals.
How This Strategy Works
The VIDYA Bands indicator shows the trend direction: an upward slope indicates a buy trend, while a downward slope indicates a sell trend.
The Waddah Attar histogram confirms momentum with green bars signaling buy opportunities and red bars signaling sell opportunities.
Trades are taken only when both indicators align, increasing accuracy and reducing false signals.
Buy Entry Rules
- Confirm that the VIDYA Bands are sloping upward, indicating an uptrend.
- Wait for a green bar on the Waddah Attar histogram.
- Enter a buy trade at the close of the candle where both conditions are met.
- Set a stop-loss below the recent swing low.
- Take profit around 10–20 pips on M1 or 15–30 pips on M5, or exit when the bands slope down or a red histogram bar appears.
Sell Entry Rules
- Confirm that the VIDYA Bands are sloping downward, indicating a downtrend.
- Wait for a red bar on the Waddah Attar histogram.
- Enter a sell trade at the close of the candle where both conditions are met.
- Set a stop-loss above the recent swing high.
- Take profit around 10–20 pips on M1 or 15–30 pips on M5, or exit when the bands slope up or a green histogram bar appears.
Advantages
- Combines trend direction with momentum confirmation for higher probability trades.
- Works well on short-term charts for multiple intraday opportunities.
- Visual signals are clear and easy to follow.
- Helps avoid counter-trend trades and improves win rate.
Drawbacks
- Scalping requires constant attention and quick execution.
- Profit targets are small, requiring multiple trades for meaningful gains.
- High market noise on M1 charts may result in some premature exits.
Case Study 1 – EUR/USD M1 Chart
During the London session, the VIDYA Bands were sloping upward, and the Waddah Attar histogram turned green.
A buy trade was entered with a stop-loss 5 pips below the recent low.
Price reached the take-profit level of 12 pips within 8 minutes, and the trade was closed.
Case Study 2 – USD/JPY M5 Chart
On USD/JPY, the VIDYA Bands sloped downward, and a red Waddah Attar histogram bar appeared.
A sell trade was entered with a stop-loss 10 pips above the recent high.
The price moved to the take-profit target of 25 pips within 20 minutes before reversing.
Strategy Tips
- Focus on liquid pairs such as EUR/USD, GBP/USD, and USD/JPY for tighter spreads.
- Trade during the most active sessions for clearer trends and better execution.
- Adjust stop-loss levels based on the volatility of the currency pair.
- Ensure both the trend and momentum signals are aligned before entering a trade.
- Consider early exit if the trend slope changes or the histogram reverses, even before the take-profit target is reached.
This strategy uses trend slope from VIDYA Bands and momentum signals from Waddah Attar to generate high-probability scalping opportunities.
By applying strict risk management and maintaining disciplined trade execution, traders can consistently take advantage of multiple short-term market opportunities.
