EFC Indicator Review
Today I’m looking at new Forex product promising to find a winning trade opportunities for its clients in less than 60 seconds, EFC Indicator. The purpose of this indicator is to help traders find more accurate trade entries. The creators of the system believe that it is an easy, fast and clean indicator that is “proven to make you money.” I’ll let you know if that’s the case in my extensive and analytical review.
The product is created by trading strategy guides, a website that promotes multiple products and different written guides to help traders better understand Forex trading strategy. It is unknown who the creators of this website are, and what type of trading experience they have to offer the marketplace. To get in touch with support, traders can email email@example.com. I couldn’t find an email directly for the indicator, but this one should do.
EFC Indicator Review
Built to work with the Beta-trader 4 platform, and Trading View, the EFC Indicator claims that their clients can “consistently make over $1000 per week.” The developers tell us that they’ve taken one of the most popular strategies, back tested it to make this indicator that “automatically detects reversal patterns.” The indicator will provide traders with the entry point, the take profit target and the stoploss target. In doing so, traders can rely on a 1 to 3 risk reward ratio to grow their accounts.
With this type of software, the trader has to place the trade manually, and set the take profit and stoploss on their own. As I mentioned above, both of these elements are provided by the software.
One of the main aspects the producers of the system want to push to the market, is the fact that the indicator provides ample opportunities so that you can trade all throughout the day and night.
- Type: Forex Indicator
- Price: $99
- Strategy: Reversal
- Timeframe: Any
- Pairs: 30 Pairs
At $99, the EFC Indicator is priced around where most Forex indicators are. One of the main issues I have with Forex indicators in general, and this one too, is that the strategy is defined but it’s somewhat loose when it comes to different time frames and pairs. See, when it comes to Forex robots, you’ll notice that the successful robots frequently focus on one timeframe, and a couple of pairs. The reason for this approach, is that the strategy is much more defined as the expert advisor is tested adamantly, and all of the bad time frames and bad pairs are eliminated. In the case of this indicator, it’s likely that you will have to figure out what time frames and what pairs are most successful before you can start trading on alive account and achieving any sort of consistency.
Another issue I have with indicators, and the EFC Indicator, is the fact that there are no real viable trading results. While the vendor does provide us with a couple of different screenshots, there is no real longform trading statement or Myfxbook account that proves this system works in the short or long-term.
Many developers of indicators believe that giving us screenshots is enough because they can’t automate the process, which makes it too difficult to put together a trading statement. As far as I’m concerned, this is just laziness. These developers claim to have been around for over 10 years, so it would be very easy for them to spend a month or 2 trading this strategy and putting their results up on a website like FXStat.
There is really nothing stopping the developers from doing so, and it’s really what I need to see before my interest is piqued.
You probably already know where I stand on the EFC Indicator. I’m at the point of indecision. As much as I would like to close my eyes and blindly believe that this is a profitable indicator, that’s just not who I am as a person. Before shelling out money for any product, regardless of the expense, I always want to see proof that the product works. As I’m writing that right now, it doesn’t sound like much of an ask.
If there is anything you would like to add to this review, please feel free to leave your remarks below the article now.