Are you struggling to catch reliable breakouts on the forex charts? Tired of chasing false moves or getting whipsawed before price takes off? You’re not alone. Breakout trading can be super profitable — but only if you know when to strike. That’s exactly where the NR4 NR7 Indicator Source Code for MT4 steps in.


This lightweight, code-transparent MetaTrader 4 indicator helps you identify periods of low volatility compression — when the market is gearing up for a breakout. It highlights NR4 (Narrow Range 4) and NR7 (Narrow Range 7) candle setups, two of the most effective price action strategies made famous by legendary trader Toby Crabel.


And the best part? You get full source code. That means you’re not tied to a black-box system — you can customize it, tweak alerts, or even build your own EA logic on top of it.


So let’s dive into what the NR4 NR7 indicator does, how it works, and how you can use it in your daily forex trading.



What is the NR4 NR7 Indicator?


At its core, this is a price-action-based volatility tool. It scans candles and marks those that qualify as:




  • NR4 (Narrowest Range of the Last 4 Candles)




  • NR7 (Narrowest Range of the Last 7 Candles)




These bars typically indicate consolidation or volatility compression — when price is "resting" before making its next significant move.


Traders look to trade breakouts of these bars because once price escapes the tight range, there’s usually enough fuel for a decent run.


The NR4 NR7 Indicator for MT4 highlights these bars visually and optionally alerts you in real-time.



Why NR4 and NR7 Patterns Work


Markets tend to move in cycles — from expansion (big candles, high volatility) to contraction (small candles, low volume). Breakouts from contraction zones often lead to strong directional moves.


That’s the logic behind NR4 and NR7 patterns:




  • NR4 means today’s (or current bar’s) range is the


    Introduction: Find the Calm Before the Storm in Forex


    Ever feel like you’re always a few steps late to the big breakout? Like the market exploded… right after you stepped away? That’s the frustration of many traders who miss the compression phases before a major move. But there’s a secret weapon you probably haven’t explored yet—the NR4 NR7 Indicator for MT4.


    This underrated yet highly effective breakout tool scans for narrow-range bars (NR4 and NR7) to identify potential breakout zones—those moments when the market is “holding its breath” before a significant shift.


    And the best part? You can now download the source code for free on MQL5.software and plug it directly into your MetaTrader 4. No gimmicks. No bloated promises. Just pure strategy.


    Let’s dive into how the NR4 NR7 system works, how to install it, and why YoForex is giving this away for free (spoiler: we believe in empowering real traders).



    Overview of the NR4 NR7 Indicator


    The NR4 NR7 Indicator is a price action-based tool designed to highlight areas of low volatility—specifically the narrowest candles of the last 4 and 7 bars. These “quiet” periods tend to precede explosive movements, making them a perfect signal generator for breakout or volatility expansion traders.


    Originally popularized by trading legends like Tony Crabel, this method has stood the test of time. And now it’s built into a plug-and-play MetaTrader 4 indicator for both beginners and pro traders.


    Developed and tested by the YoForex dev team, this MT4 indicator:




    • Highlights NR4 (Narrowest Range of Last 4 bars)




    • Highlights NR7 (Narrowest Range of Last 7 bars)




    • Supports all timeframes and currency pairs




    • Displays breakout direction once confirmation occurs




    This isn’t some “hype strategy” thrown together in a weekend. It’s a back-tested, battle-proven concept now coded into MT4 to save you hours of chart work.



    Key Features of NR4 NR7 Indicator for MT4


    • + Highlights both NR4 and NR7 candles visually on chart
    • + Works on any timeframe (M15 to D1 recommended)
    • + Breakout alerts via arrows or notifications
    • + Compatible with all major Forex pairs, gold, crypto
    • + Pure price action—no lagging indicators used
    • + Low CPU usage, lightweight script for fast execution
    • + Adjustable sensitivity for different market types
    • + Clean coding—easy for developers to modify or expand
    • + Ideal for manual or EA-based breakout strategies
    • + Detects market compression patterns reliably
    • + Comes with full MQ4 source code for customization
    • + 100% free, no license restrictions (courtesy of YoForex)



    Strategy Behind NR4 NR7: What Makes It So Powerful?


    The logic is simple, but don’t confuse that with ineffective.


    • NR4 (Narrow Range 4): Current candle has the smallest range of the last 4 bars
    • NR7 (Narrow Range 7): Current candle has the smallest range of the last 7 bars


    When you see both NR4 and NR7 occur at the same time, the market is typically in a squeeze. Think of it like a coiled spring… waiting to release.


    Professional traders often combine this compression signal with:




    • Breakout confirmation: Place pending orders above/below the NR7 high/low




    • ATR filter: Only trade if ATR confirms low volatility conditions




    • News avoidance: Skip NR setups during major announcements




    The idea is to catch that initial volatility pop out of the tight range, ride it with a tight stop, and exit once the move loses steam.


    Best timeframes?
    M30, H1, and H4 seem to produce the most reliable signals without too much noise.


    Ideal pairs?
    EURUSD, GBPUSD, USDJPY, and gold (XAUUSD) during Asian or London sessions.






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    Backtest Results & Live Market Performance


    Backtesting the NR4 NR7 breakout strategy across multiple pairs (H1 timeframe) produced surprisingly strong win rates—especially when paired with tight stop losses and modest take profits (1:1.5 or 1:2 RR).


    Here’s a quick overview of our internal backtest:




    • Symbol: EURUSD




    • Timeframe: H1




    • Period: Jan 2022 – Jan 2024




    • Total Trades: 490




    • Win Rate: 63.7%




    • Avg. Risk-to-Reward: 1:1.8




    • Max Drawdown: 4.3%




    • Profit Factor: 1.76





    How to Install & Configure the NR4 NR7 Indicator (MT4)


    Step-by-step install guide:




    1. Download the Source Code:
      Download NR4 NR7 Indicator MQ4




    2. Copy the File:
      Place NR4_NR7_Indicator.mq4 into your MT4 directory under MQL4/Indicators.




    3. Compile the File:
      Open MetaEditor and compile the script. Restart MT4 if needed.




    4. Attach to a Chart:
      Go to Navigator → Indicators, then drag NR4 NR7 Indicator onto your desired chart.




    5. Adjust Settings:
      You can set:




      • Candle highlight colors




      • Notification alerts




      • Breakout arrow display




      • Timeframe overrides






     






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    Why Choose YoForex-Powered Tools?


    YoForex isn’t just some random EA factory. We build and test tools we actually use in our trading desks.


    • 💡 Free access to powerful, no-nonsense indicators
    • 🔄 Regular updates & community-requested features
    • 🤝 Built by real traders for real traders


    Our mission? To level the playing field. You shouldn’t need to spend $200+ for a basic indicator that’s been around for decades.


    Explore more of our free tools at MQL5.software or learn more about us at YoForex.net.



    Support & Disclaimer


    Got questions? Bug report? Wanna request a custom feature?


    • 📲 Message us on WhatsApp
    • 📢 Join our Telegram Group


    Disclaimer: This tool is for educational use. Past performance does not guarantee future results. Always backtest and use on demo accounts before going live. Trade responsibly.



    Call to Action – Download It Free Now!


    Why wait to find out if the next breakout will catch you off guard?


    👉 Download NR4 NR7 Indicator for MT4 now — it’s 100% free.
    Put it on your charts, test it out, and finally take control of your breakout entries.


    YoForex has your back.




 


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