Forex Rider Evo Trading Indicator V1.0 MT4 – Free Download & Setup Guide

By: Swarnalata

Published on: Apr 07, 2025

 Introduction

The Forex Rider Evo Trading Indicator V1.0 is a powerful MetaTrader 4 (MT4) tool designed for traders who want high-accuracy signals on major currency pairs like EUR/USD, GBP/USD, and USD/JPY. Whether you're a scalper or swing trader, this indicator works efficiently on M5 (5-minute) to H1 (1-hour) timeframes, making it ideal for quick decision-making.

In this guide, we’ll cover:
✅ How to Download & Install the Indicator
✅ Best Settings for EUR/USD, GBP/USD, and USD/JPY
✅ Optimal Trading Strategy for Maximum Profits
✅ Minimum Deposit & Risk Management Tips

Key Features of Forex Rider Evo Indicator

✔ Multi-Timeframe Compatibility – Works on M5, M15, M30, H1
✔ High-Accuracy Signals – Clear buy/sell alerts with minimal repainting
✔ User-Friendly – Easy to install, even for beginners
✔ Low Minimum Deposit – Start with just $200
✔ Works on Major Pairs – Optimized for EUR/USD, GBP/USD, USD/JPY

 How to Download & Install Forex Rider Evo Indicator

Step 1: Install on MT4

1. Open MetaTrader 4 (MT4)


2. Go to File > Open Data Folder


3. Navigate to MQL4 > Indicators


4. Paste the Forex_Rider_Evo.ex4 file here


5. Restart MT4


6. Drag & drop the indicator onto your chart

Step 2: Configure Settings

Recommended Settings for M5 Scalping:

1. Sensitivity: Medium


2. Signal Strength: Strong


3. Alerts: Enabled

Best Trading Strategy with Forex Rider Evo Indicator

 For EUR/USD (M5 Scalping)

• Entry: Wait for a green arrow (BUY) or red arrow (SELL)


• Stop Loss: 15-20 pips


• Take Profit: 30-50 pips


• Best Session: London & New York overlap

 For GBP/USD (H1 Swing Trading)

• Entry: Confirm with trendline breaks


• Stop Loss: 25-30 pips


• Take Profit: 50-80 pips

 For USD/JPY (M15 Intraday Trading)

• Entry: Use price action confirmation


• Stop Loss: 20 pips


• Take Profit: 40-60 pips

 Risk Management & Minimum Deposit

• Minimum Deposit: $200 (Recommended for safe trading)


• Risk per Trade: 1-2% of account balance


• Leverage: 1:100 (Ideal for beginners)

Pros & Cons of Forex Rider Evo Indicator

✅ Pros:
✔ Easy to use for beginners
✔ Works on multiple timeframes
✔ Free download available

❌ Cons:
✖ Requires manual confirmation (not fully automated)
✖ Best results on low-spread pairs

 Frequently Asked Questions (FAQ)

❓ Is Forex Rider Evo Indicator free?

Yes! You can download it for free from the link above.

❓ Does it work on other pairs like AUD/USD?

It’s optimized for EUR/USD, GBP/USD, USD/JPY, but you can test it on other pairs.

❓ Can I use it on a $100 account?

Yes, but $200 is recommended for better risk management.

 Final Verdict – Should You Use It?

The Forex Rider Evo Indicator V1.0 is a great tool for scalpers and intraday traders, especially on EUR/USD, GBP/USD, and USD/JPY. With clear signals and easy setup, it’s perfect for beginners and experts alike.

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Happy Trading