In this post I will be reviewing the Forex WindWaker System which is a manual forex trading strategy for the MetaTrader 4 (MT4) platform which you can download free of charge from most forex brokers. You will need the desktop version of the MT4 platform to be able to load the Forex WindWaker trading template and indicators onto the currency pair charts and timeframes that you wish to trade. The Forex WindWaker Strategy will constantly analyse these charts for possible buy and sell signals, then send you an alert when it finds an opportunity for you to consider.
In this Forex WindWaker Review, I will be taking a closer look at the forex strategy that it uses along with the key features, advantages and disadvantages. This should help you to decide if this is a manual forex trading system that you would like to implement within your day trading activities.
Forex WindWaker Strategy
The Forex WindWaker trading system uses a combination of forex indicators to automatically conduct technical analysis. When all of the strategy’s indicators agree that the market might be heading in one direction, that is when you get a forex signal to consider.
You will see a series of specialized trend candlesticks which tell you the momentum of the market. You have green and red Eye-Circles which indicate trend peaks and a belt of confirmation signals below. There is also a panel at the top left of the chart which shows you the status of the signal. This will either show wait, buy or sell.
The Forex WindWaker is really easy to use as everything is colour coded and displayed clearly on the charts via the trader dashboard. Therefore, it can be used by forex traders of all experience levels. You do not need to be stuck at your screen all day if you don’t want to because the Forex WindWaker system can be set to send you signal alerts via SMS, email and platform pop-ups.
I do appreciate how versatile the Forex WindWaker strategy is. You can use it on any currency pair and any chart timeframe. You can also use it on other financial instruments including stocks, indices, commodities, precious metals, energies and cryptocurrencies. It can be used for scalping forex on the lower chart timeframes, day trading on the 1-hour charts and swing trading the daily charts. You can adapt it in a way that works for you depending on your time constraints and trading style.
If you have made it this far, it may seem like the Forex WindWaker System can be a good way to get automated forex signals for you to follow. This may be especially attractive for those of you who do not have the time to learn how to trade yourself. However, do not expect a magic system that gets it right every time. Nobody can predict what will happen in the markets moving forward, so there will be good and bad signals generated by this forex software.
In order to get the most out of it, I would certainly be wanting to confirm each and every Forex WindWaker Signal with my own market analysis before taking a position. You may want to add extra additional technical analysis and/or fundamental analysis. This can help you to filter out some of the low probability trades whilst also improving your trading skills over time.
Then you need to think about your forex money management. It would not be unusual to see 2 forex traders using this trading strategy get a completely different set of results, simply because they might be using different stop loss and take profit levels.
I would personally be looking to trade on the higher timeframes to try and filter out some of the market noise that I often find on the lower timeframes. I may look to lock good trades in at breakeven point and cut losing trades short. I might then trail the remainder of a winning trade with a trailing stop in order to try and make the most out of a move.
Forex WindWaker Features
- Buy and sell trading signals for manual trading
- Combines technical indicators in an MT4 trading template
- Trading dashboard displays everything clearly on your charts
- Can be used on any asset class and chart timeframe
- Can work on any MT4 forex broker
- Includes plenty of examples, video and detailed instructions
Forex WindWaker Summary
Overall, I certainly think that the Forex WindWaker System has some potential but I do believe it will require the user to take the initiative. This is because there can be quite a few false signals and the money management is open to interpretation. I would want to do my own chart analysis to confirm every signal and make sure I am using sensible money management with a favourable risk to reward ratio. Yes, you can use it straight out of the box and blindly take every signal that it alerts you on. I just think this would not be a good idea in my humble opinion.
Other than that, you might even be able to create a similar forex trading system simply by using the default technical indicators that are included free of charge in the MT4 platform. You could then even improve on the Forex WindWaker Strategy by implementing fundamental and price action analysis. I find that the more analysis you combine, the better you can filter out potentially bad signals – without overdoing it of course.
If you are interested in downloading the Forex WindWaker System, you could always start on a demo trading account to begin with. This could be a great way to familiarise yourself with how to trade with the Forex WindWaker Strategy and get the most out of it. You can get a free demo trading account from most forex brokers. Once you have built some confidence and have some success, you may then consider switching over to a real live account.
- BUY/SELL Signals
- Easy To Use
- Versatile Forex System
- Signal Alert Notifications
- Any Financial Instrument
- Any Chart Time Frame
- Any Trading Style
- Any Forex Broker
- Detailed Instructions
- Full Support
- MetaTrader 4 Only
- Takes Time To Learn How To Use
- Not Very Innovative
- No Verified Results
- Requires Some User Initiative
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.