The SSRC Indicator Metatrader 4 forex indicator is a simple overbought/oversold technical indicator that works, even for beginners.
A buy/sell alert is triggered in the region of oversold/overbought levels, and the SSRC indicator is known to be more accurate than the Stochastic at 8, 3, 3 settings.
The SSRC Indicator will mimic price, thus providing updated signals on current market movements.
It shows a lime line within a separate window that runs through the varying alert levels.
These critical levels are -0.9, -0.75, +0.75, and +0.9.
Price is said to be oversold when it is driven below the -0.9 level and overbought when it jumps above the 0.9 level.
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Indicator Chart (USD/CAD M15)
The USD/CAD M15 chart below displays the SSRC Indicator Metatrader 4 forex indicator in action.
Basic Trading Signals
Buy Signal: Go long when the lime line of the SSRC Indicator Metatrader 4 forex indicator breaks above the zero signal level.
Sell Signal: Go short when the lime line of the SSRC Indicator Metatrader 4 forex indicator dips below the zero center level.
Exit buy trade: Close all buy orders while a bullish trend is ongoing, the lime line of the SSRC Indicator dips below the zero signal level.
Exit sell trade: Close all sell orders while a bearish trend is running, the lime line of the SSRC Indicator breaks above the zero centre level.
Tips: The SSRC indicator is a perfect scalping tool when used in combination with other indicators on lower charts of M1, M5, and M15.
SSRC Indicator + Tether Line Forex Day Trading Strategy
This day trading strategy combines the SSRC Metatrader 4 Forex Indicator with the Tether Line Forex Signals Indicator for MT4.
The strategy is designed to capture intraday trends by confirming momentum and trend direction.
It works well on M15, M30, and H1 charts and is suitable for traders who prefer clear signals with structured entries and exits.
Buy Entry Rules
- Wait for the SSRC indicator to break above the zero level.
- Confirm that the Tether Line indicator shows a red line indicating a buy trend.
- Enter a long position once both conditions align.
- Set the stop loss below the recent swing low or a nearby support level.
- Take profit at a previous resistance level, a 1 to 2 reward ratio, or when SSRC crosses back below zero.
Sell Entry Rules
- Wait for the SSRC indicator to break below the zero level.
- Confirm that the Tether Line indicator shows a blue line indicating a sell trend.
- Enter a short position once both conditions align.
- Set the stop loss above the recent swing high or a nearby resistance level.
- Take profit at a previous support level, a 1 to 2 reward ratio, or when SSRC crosses back above zero.
Advantages
- Simple and clear trading signals for day trading.
- Combines momentum (SSRC) with trend direction (Tether Line) for higher accuracy.
- Works on multiple currency pairs with strong intraday movement.
- Helps traders avoid entering counter-trend trades.
Drawbacks
- Whipsaws can occur during low volatility or consolidating markets.
- Requires monitoring charts during active sessions for timely entries.
- Stop loss must be carefully placed to avoid being hit by normal intraday fluctuations.
Case Study 1
On EURUSD M30, the SSRC indicator broke above zero following a short consolidation period.
The Tether Line showed a red line confirming a buy trend.
A long trade was entered with a stop loss under the recent swing low.
The price moved steadily upward, reaching a resistance level 40 pips higher.
The trade was closed for a successful intraday gain.
Case Study 2
On GBPJPY H1, the SSRC indicator broke below zero after a minor rally.
The Tether Line displayed a blue line, signaling a sell trend.
A short position was opened with a stop loss above the previous high.
The price continued downward and reached the next support zone, yielding a 55-pip profit within the same trading session.
Strategy Tips
- Focus on trending pairs where price moves clearly in one direction to reduce whipsaws.
- Combine this strategy with a higher time frame analysis to identify the overall trend direction before entering.
- Use a smaller position size during choppy markets to limit risk.
- Consider closing part of the position at the first target and letting the rest run to capture larger intraday moves.
- Pay attention to key support and resistance levels as potential reversal points for exits.
- Maintain discipline and only take trades that meet both SSRC and Tether Line conditions.
- Monitor multiple pairs, but focus on the ones showing clear trends for higher probability trades.
- Adjust your stop loss dynamically based on recent volatility to protect profits and reduce losses.
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Download the “ssrc-indicator.ex4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customisation options: Variable (SnakeRange, FilterPeriod, MartFiltr, PriceConst), width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend
