It provides excellent ridge-walking over the fells. Due to the topography, there are multiple variants of the horseshoe with the option for walkers to add in a variety of extra peaks if they choose.
A horseshoe of high summits surrounds Coledale, from Grisedale Pike in the north, round through Hopegill Head, down to the pass of Coledale Hause, and then up to Eel Crag (known as 'Cragg Hill' on Ordance Survey maps) and Sail. To the south the ridge splits into two, with Scar Crags and Causey Pike on the outer ridge and Outerside and Barrow forming what Wainwright called “a lower and parallel ridge like an inner balcony”.
There is no definitive version of the round.  The Coledale Horseshoe fell running race takes in Grisedale Pike before dropping down to Coledale Hause, and then covers Eel Crag, Sail, Outerside and Barrow,  which is the shortest version of the Horseshoe.  It is common to add Hopegill Head to this core version after Grisedale Pike and before the hause .
The most obvious other variant is to take the outer southern ridge over Scar Crags and Causey Pike rather than the inner ridge over Outerside and Barrow, with the stretch from Eel Crag to Causey Pike considered by Wainwright as “a grand ridge walk...an excellent ridge-walk”.  which figured among his top ten ridge walks. Walkers may combine the two southern ridges by connecting between Causey Pike and Outerside over High Moss.  Additionally, either or both of the peaks of Wandope and Grassmoor can be visited between Eel Crag and Coledale Hause for an extended walk. 
- Coledale Horseshoe
- A Wainwright, The North-Western Fells (Kendall 1964) Outerside 2
- "Coledale Horseshoe 2021". Ellenborough AC. Retrieved 12 September 2021.
- S Marshall, Walking the Wainwrights (2000) p. 72-4
- A Wainwright, The North-Western Fells (Kendall 1964) Eel Crag 6
- H Davies, A Walk around the Lakes (London 1989) p. 320-1
- "The Coledale Horseshoe". Treks and Tours.
- "The Coledale Horseshoe with extras". Brians Walks. Retrieved 12 September 2021.
- A Wainwright, Fellwalking with Wainwright (London 1984)