The Stryder Forex Trading Strategy is a trend-following trading system based on the Stryder entry Signal and the Rate of Change indicator. That ROC forex indicator examines the true changes in price actions. Besides defining the forex market trends, this forex strategy also provides information about the current chart support and resistance of the forex market and, most importantly, the best potential chart entry points for trades marked with buy/sell arrows.
The Stryder Forex trading Strategy fits all kinds of timeframes and mt4 currency pairs. It is shown directly on the main trading chart and in a window below it. The main default settings can be modified directly from the input tab. Experiment with the parameters and settings to fit your preferences.
How to trade with the Stryder Forex Trading Strategy?
The Stryder Forex Trading Strategy consists of just two forex indicators, which are the following:
- Stryder entry Signals: this is a core element of the forex strategy as it defines trend direction. It is just a main chart trend line and two bands representing the market’s short-term overbought/oversold area. It automatically changes its colors when a change in the chart trend takes place. Additionally, it plots signals as buy/sell arrows triggering potential market entries.
- Stryder Rate of Change: this indicator watches up to 20 currency pairs and keeps calculating the rate of changes in the instruments. It turns green when there is a positive change (bullish) in the asset’s price and red in the case of an adverse change (bearish) in its price.
Buy Signal
Follow these steps for a long trade:
- Stryder Signal turns blue.
- An upward arrow is placed.
- Stryder ROC shows a positive change in price action.
- Buy entry trade is triggered after the above conditions are met.
- Set stop loss(SL) a few pips below the triggering arrow
- Take profit or exit trade whenever the opposite arrow is plotted, or use your preferred method of trade exit.
Sell Signal
Follow these steps for a short trade:
- Stryder Signal turns red.
- A downward arrow is placed.
- Stryder ROC shows an adverse change in price action.
- Sell entry trade is triggered after the above conditions are met.
- Set stop loss(SL) a few pips above the triggering arrow.
- Take profit or exit trade whenever the opposite arrow is plotted, or use your preferred method of trade exit.
As always, remember to achieve the best results in forex money management. To be a profitable trader, you must master discipline, emotions, and psychology. It is crucial to know when and when not to trade. Avoid trading during unfavorable times and forex market conditions like low volume/volatility, beyond major sessions, exotic currency pairs, wider spread, etc.
How to set up the Stryder Forex Trading Strategy in MT4?
Installation Guide
Download the Stryder Forex Trading Strategy.zip archive at the end of this post, unzip it, then copy and paste the indicators files of the Stryder Forex Trading Strategy into the MQL4 folder of the MT4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Furthermore, you must copy the template file into the templates folder to run the Stryder Forex Trading Strategy. To proceed, right-click on a chart, then Template > Open Templates, and copy the Stryder Forex Trading Strategy.tpl file into that folder. Next, select the file and click Open to load the system on your chart.
Bottom Line
The Forex Stryder Strategy is well worth adding to your trading collection. A good forex strategy will enhance your chance of success. Nonetheless, remember to have realistic expectations. Like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex trading strategy provides false entry signals occasionally. Its performance will vary significantly depending on market conditions.
Download Free MT4 Stryder Forex Trading Strategy
Read More Super Hedge Forex Robot FREE Download
