In this post I will review the Forex Stryder Strategy which is another manual trading system that has been developed for the MetaTrader 4 platform which you can download for free from most online forex brokers.
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The system can be utilised by both beginner and experienced traders. You may wish to take the trading signals that the Forex Stryder Strategy generates as they are or to include your own additional markets analysis.
All that is required is that you have an MT4 trading account and the MT4 desktop platform to load the indicators on. You may wish to practice with the Forex Stryder Strategy on a demo account to begin with until you familiarise yourself with how it trades and produce consistent results.
Forex Stryder Strategy
The Forex Stryder Strategy can help traders to quickly and accurately identify the direction of the trend. The indicator combines price action and multiple sophisticated market timing algorithms to determine these significant turning points in the markets.
Once the Stryder Strategy has spotted a trend change, it clearly displays these Buy or Sell alerts on your charts, thus showing you exactly where this may occur.
You can set the software to send you alerts when it finds a signal which is useful as you do not need to stare at the charts all day long and can monitor multiple instruments and time frames simultaneously. This includes Popup Alerts, Email Alerts, Push Alerts & Sound Alerts.
The Forex Stryder Strategy can be used on any currency pair or other trading instrument including stocks, commodities, cryptos, metals, energies, etc. It can also run on any time frame that you prefer and which fits around your availability.
I prefer longer term charts as they present me with opportunities to catch big moves and mean less time analysing charts.
I also prefer to trade major currency pairs such as the EURUSD and GBPUSD as I find they have plenty of liquidity for good moves and also some of the lowest spreads, especially on ECN forex brokers.
How to use the Forex Stryder Strategy?
Forex Stryder Strategy is a unique trend-following trading system that includes the Rate of Change (ROC) indicator for examining the true changes in price actions. Besides defining the market trends, this strategy also provides information about current support and resistance of the market and points the best possible places to enter the market.
Forex Stryder Strategy can be applied to trade all kinds of forex currency pairs around the financial markets. Moreover, you’re free to apply it to any sort of timeframe chart available within the MT4 trading platforms. Download Forex Stryder Strategy and install it on your MT4 terminal. Once completed, you’ll find your chart like the following image:
Stryder Signals: It is the main trend defining indicator of this strategy. This tool has been equipped with one main trend line and two bands representing the short-term overbought/oversold area of the market. The main trend line automatically changes its colors when there is a change in the trend. For better understanding, it plots signals arrows indicating the possible direction of the upcoming market entries.
Stryder ROC: This indicator closely monitors up to 20 currency pairs and keeps calculating the rate of changes in the instruments for a better understanding of the market trends. This ROC tool is a good filter for any trend signaling indicator. It turns green when there is a positive change in the price of the asset and turns red in case of a negative change in price actions.
Rate of Change (ROC) Indicator
The Rate of Change Indicator is a big part of the Forex Stryder Strategy. The Rate-of-Change (ROC) indicator, which is also referred to as simply Momentum, is a pure momentum oscillator that measures the percent change in price from one period to the next. The ROC calculation compares the current price with the price “n” periods ago. The plot forms an oscillator that fluctuates above and below the zero line as the Rate-of-Change moves from positive to negative. As a momentum oscillator, ROC signals include centerline crossovers, divergences and overbought-oversold readings. Divergences fail to foreshadow reversals more often than not, so this article will forgo a detailed discussion on them. Even though centerline crossovers are prone to whipsaw, especially short-term, these crossovers can be used to identify the overall trend. Identifying overbought or oversold extremes comes naturally to the Rate-of-Change oscillator.
Forex Stryder Strategy Summary
Overall, I would say that the Forex Stryder Strategy is a basic forex system that requires the user implements good money management principles whilst keeping trading psychology in check. This means to remain patient and disciplined without letting fear, anger and greed get in the way of the trading plan.
I would be looking to cut losing trades short and let my winners run, also locking in profits where possible and trailing positions. I would certainly also filter the trading signals that it generates with my own analysis of the currency pair chart.
The Forex Stryder Strategy includes instructions, full support and free updates.
I think that this is a basic forex strategy, and I do not think it is much different from a trading strategy template that you could build yourself in the MetaTrader platform by simply using the default technical indicators and drawing objects that are included within the platform free of charge. If you want to learn more and get the Forex Stryder Strategy download you can visit the website by using the link below.
Forex Stryder Strategy
$37
Pros
- Manual Trading System
- Signal Alerts
- Technical Indicators
- Any Chart Time Frame
- Any Trading Instrument
- Detailed Instructions
- Full Support
- Free Updates
Cons
- MetaTrader 4 Only
- Requires Some User Initiative
- Quite Basic Forex Strategy
- Not Very Innovative
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
