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After several months of research and development, Trading Strategy Guides (TSG) has released a new indicator created to help traders identify trend reversals. The indicator is currently called an “EFC Indicator” due to the fact that its use is “easy, fast, and clean.”The EFC Indicator is designed to be used by day traders and others holding short-term positions, but it can also be used by intermediate-term traders as well. The product plots price movements and candlesticks over time, contained by a “Take Profit Target” line on top and a “Stop Loss Target” line on bottom. Once the price moves above the desired entry level, it becomes possible for traders to easily identify a profitable position.
The EFC indicator uses a 3:1 risk to reward ratio, meaning that the take profit line will be three times further away than the stop loss target. This ratio, according to the experts at Trading Strategy Guides, is ideal because traders will only need to “win” 33% of all trades in order to break even.
Other desirable features of the EFC indicator include the auto-filtering of false patterns, price alerts when an asset has moved to the extreme end of its last 50 candles, and various customization options that can adapt to individual trading strategies. TSG claims that the product is ideal for “swing trading, day trading, and scalping”, and traders can expect a win rate of 68% (more than double the 33% needed to break even).
The EFC indicators is compatible with multiple popular platforms including Meta Trader 4, Meta Trader 5, Ninja Trader 7, Ninja Trader 8, and Tradingview. Color-coded candlesticks help indicate when trend reversals are most likely to form and when entry points will be the most profitable. The color scheme (red, green, orange, and blue) is also incorporated into the EFC Scanner—a complimentary tool that is ideal for individuals trading on the forex market.
Though, as is the case with all indicators, the EFC Indicator offers a limited view of the market, its ability to save traders time while also reducing the risk of a new position is something that is abundantly clear.
Contact Info:
Name: Casey Stubbs
Email: Send Email
Organization: Trading Strategy Guides
Address: 816 Ligonier St #405, Latrobe, PA 15650
Phone: (724) 374-8352
Website: https://tradingstrategyguides.com/
Release ID: 474394
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