Forex Tools

Forex Killer Review




Forex-Killer is a standalone software program written for Windows PCs. It works independently from brokers/platforms to provide signals on demand, and recommendations for the current market conditions. There is no required installation, so downloading and running is very easy.

Summary



FULL REVIEW



Getting Set up

The only configuration required is to load in data from the broker that you want to use. It took me a couple of minutes to figure out where to export the data from when using MetaTrader, so to save you the same time, you need to go to Tools|History Center, select the pair and timeframe you want to export data for, then click export. This will create a .csv file that you can use to import into Forex-Killer.

Forex-Killer Main Display click to view full image

Generating Signals

The process to generate a signal is very simple and laid out on the GUI for you. Firstly you load the data (click the load button and import the .csv file you generated). Secondly you choose the timeframe and currency pair. You then provide a stoploss and take prodit level, and click calculate. It takes a few seconds then the short and long term signals are generated, indicating the direction for each. It provides 2 signals, long term and short term, indicating the trades that should be made from the current market price.

The quality of the analysis is very good, I tested it on EURUSD at what I deemed to be a good high probability trade setup, and as you can see from the screenshot, i got the correct signal on both timeframes. A few hours later the trade was 40 pips up. You are advised to close the open positions when a reverse signal is generated. Im not sure how practical this is for short term trading, but it would work fine for long term trading when you are only checking the signals once per day. For short term trading you would have to check the data more frequently or have an alternative exit method.

Software Support

The supported currency pairs are EURUSD, USDCHF, GBPUSD, USDJPY, AUDUSD, EURGBP, EURCHF, EURJPY, GBPCHF, GBPJPY, EURAUD, USDCAD, NZDUSD. It also works with GOLD prices. The software has its own file format and you are able to load and save profiles generated. The software works very nicely and one feature that would enhance it is the ability for it to automatically do the analysis and forward the results to you, at fixed intervals.

Back To Reviews Page | View their Home Page