FOREX BILL KILLER

Forex Bill Killer Trading System

A trend-following system designed to capture long-term trend movements and avoid trading during weak or unclear trends. Here are the key buy and sell rules:

Buy Rules

  • Trend Confirmation:
    • Simple Moving Average (SMA): Ensure the 9 SMA (blue line) is above the 200 SMA (red line), indicating an uptrend.
    • RSI Divergence: Look for a blue bar above the 0 line after an up arrow, indicating a buy signal.
  • Trade Execution: Open a buy market order when both the SMA and RSI indicators confirm an uptrend.

Sell Rules

  • Trend Confirmation:
    • Simple Moving Average (SMA): Ensure the 200 SMA (red line) is above the 9 SMA (blue line), indicating a downtrend.
    • RSI Divergence: Look for a red bar below the 0 line after a down arrow, indicating a sell signal.
  • Trade Execution: Open a sell market order when both the SMA and RSI indicators confirm a downtrend.

Additional Guidelines

  • Time Frame: Best used with a 1-hour chart.
  • Currency Pairs: Can be applied to all currency pairs.
  • Indicators Setup: Use the provided template to install all necessary indicators in the MetaTrader 4 (MT4) platform.
  • Exit Strategy for New Traders:
    • Set a target profit of 30 pips and a stop loss of 30 pips.
    • Exit the trade upon reaching the target profit or when reverse signals appear from the indicators.
  • Advanced Exit Strategy:
    • Use Fibonacci levels to set stop loss and target profit levels.
    • Place Fibonacci levels over the last
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