Gimat Reversal Indicator: Four Tests Behind One Arrow

Written by Dominic Walsh · Published 8 Jun 2026 · Last updated 18 Sep 2026

The gimat reversal indicator asks four questions before it marks anything. Price against the fast EMA. Fast EMA against the slow one. RSI against `InpRSILevel` `50.0`. Range now against range on the bar before.

This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.

Platforms	MT4 (.ex4) + MT5 (.ex5)
Chart window	Main price chart
Plots	4: EMA Fast, EMA Slow, Buy, Sell
Alerts	popup
Inputs	8

The drawn output

A dodger blue `EMA Fast` line runs at `InpFastEMA` `5`.

An orange red `EMA Slow` line runs at `InpSlowEMA` `13`.

`Buy` uses arrow 233 in lime and `Sell` uses 234 in red.

Each mark sits `InpArrowOffsetPt` `12` points from the candle.

• EMA Fast: line, dodger blue, width 2
• EMA Slow: line, orange red, width 2
• Buy: arrow, lime, width 2, arrow code 233
• Sell: arrow, red, width 2, arrow code 234

What feeds each plot

Two EMAs set the direction

iMA gives both lines. A buy wants the close above the fast line and the fast line above the slow one. The sell case flips both comparisons.

RSI adds a third filter

iRSI runs at `InpRSIPeriod` `7`. A buy needs the reading above `InpRSILevel` `50.0` and a sell needs it below. Seven bars keeps that reading quick.

ATR checks the bar has life

iATR at `InpATRPeriod` `14` gets read twice, on this bar and the one before. The current value has to beat the previous one times `InpATRFactor` `0.8`. That is a low bar to clear, so it removes only dead stretches.

What you act on

A mark says all four tests agreed on one closed bar.

The two lines show the direction the tests wanted.

Marks tend to arrive in runs, since the stack stays true for a while.

The name says reversal, but the tests describe a move already underway.

Alert channels in this build: popup, one message per closed bar.

One route exists here. `InpAlertsOn` ships true and raises a terminal popup on a fresh mark. No phone, mail or sound option lives in this build. The guard reads closed bars, so a mark reports once.

Every Gimat Reversal Indicator input

Core settings

Setting	What it does	Default
InpFastEMA	Fast EMA period. Bars in the fast line, default `5`.	5
InpSlowEMA	Slow EMA period. Bars in the slow line, default `13`.	13
InpRSIPeriod	RSI period. Bars in the RSI filter, default `7`.	7
InpRSILevel	RSI confirmation level. Line the RSI filter compares against, default `50.0`.	50.0
InpATRPeriod	ATR period. Bars in the range average, default `14`.	14
InpATRFactor	ATR vs prior-ATR factor. How much of the previous range value the current one must beat, default `0.8`.	0.8

Display settings

Setting	What it does	Default
InpArrowOffsetPt	Arrow offset in points. Distance from candle to mark, in points, default `12`.	12

Alert settings

Setting	What it does	Default
InpAlertsOn	Enable alerts. Terminal popup on a new mark, default `true`.	on

Getting the chart right

Short averages want a chart that moves. EURUSD H1 is the reference chart, where `InpSlowEMA` `13` covers half a day. On M5 the stack flips often and marks cluster. H4 charts leave far fewer of them.

Where it stops working

The name promises a turn, yet every test points the same way as the recent move.

`InpATRFactor` `0.8` lets a shrinking range through, so it filters very little.

Four conditions on one bar means the mark lands after the move started.

Copy the compiled Gimat Reversal Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.

Background reading on the method behind the Gimat Reversal Indicator: Island reversal on Wikipedia, Rate Of Change ROC at StockCharts ChartSchool.

Download the Gimat Reversal Indicator for MT4 and MT5

The zip holds the compiled Gimat Reversal Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.

FAQ

What does InpRSILevel 50.0 filter?

It splits the RSI reading in half. A buy needs the seven-bar reading above fifty and a sell needs it below. Fifty is the midpoint rather than an extreme, so this filter agrees with the EMA stack far more often than it blocks it.

Is InpATRFactor 0.8 a strict filter?

No, and that is worth knowing. The current range value only has to beat eight tenths of the previous one. A bar with a shrinking range still passes. Raise it above one to demand genuine expansion instead.

Does the Buy plot really mark a reversal?

Not as the code stands. Every test wants price, the two EMAs and RSI pointing the same way, which describes a move in progress. Read the arrows as continuation and the tool makes far more sense.

What does InpArrowOffsetPt 12 control?

How far a mark sits from the candle, in points. Twelve suits a five-digit currency pair. On an instrument with a different point size you will want to change it, since the gap is fixed rather than scaled.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Gimat Reversal Indicator as one input. Always backtest before trading live.