Free Killer Forex System
Killer Forex System is a trend following system primarily designed to buy dips and sell rallies in trending markets. It suits beginners, intermediate and advanced traders. Moreover, you don’t need to be an expert to be able to understand and successfully trade with it. The system can be used for scalping, day trading and swing trading.
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Chart Setup
Used Metatrader 4 indicators: RSIFilter.mq4, ScalpCycle.ex4 (default input settings)
Preferred time frame(s): 1 min charts and up
Recommended trading sessions: London & US session for M1, M5 and M15 charts. Any session for M30 and up.
Currency pairs: majors + currency crosses (avoid exotic pairs such as MUR Mauritius Rupee)
Example:
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| Free Killer Forex System |
Trading Rules
Buy trade:
RSIFilter indicator paints orange bar (buy zone)
Scalpcycle indicator paints gray arrow (bullish short-term trend)
* This is your buy trading signal. A stop-loss order should be placed below the most recent swing low point.
Take profit method: Close the trade for positive risk:reward ratio such as 15 pip stop and 30 pip limit. Alternatively, close the buy trade when the RSIFilter indicator changes from buy zone to sell zone (this approach works great for up trending currency pairs found one higher timeframe’s such as H4 and D1).
Sell trade:
RSIFilter indicator paints blue bar (sell zone)
Scalpcycle indicator paints red arrow (bearish short-term trend)
* This is your sell trading signal. A stop-loss order should be placed above the most recent swing high point .
Take profit method : Close the trade for positive risk:reward ratio such as 22 pip stop and 48 pip limit. Alternatively, close the sell trade when the RSIFilter indicator changes from sell zone to buy zone (similar to buy trades, this approach works great for down trending currency pairs found one higher timeframe’s such as H4 and D1 ).
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