Ticker Tape by TradingView. Home-icon Best Indicators. EFC Indicator Dashboard 2. This EFC Indicator automatically analyses and detects the reversal signal of the market. When an entry is triggered, EFC Indicator will show you the best place for your stop loss, and take profit. It calculates a 1 risk to 3 reward ratio and places the lines on your chart. EFC Indicator has everything built inside of it so you do not have to lift a finger to figure out where to enter the trade or place your stop loss or were to exit the trade.
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Skip to content. Applied price: It is the price at which the indicator is applied to the indicator chart. Overbought and Oversold Levels: In this indicator ,the overbought level is 80 and oversold level is These are the levels at which currency pairs are overbought or oversold.
Stop loss and Take profit: This indicator also has this parameter, with the help of these parameters you can minimize the risk of loss and can take profit as you want Drawing settings: This Forex indicator also has drawn mode with the help of this parameter you can change the colours of the candlestick patterns and arrows. You can colour the candlestick for a short position as red and long positions as green. Candle width: These parameters enable the users to change the shape of the candlestick.
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Submit Cancel. The EFC Indicator basic concept is to open position as a reversal trend is detected. Since this EFC indicator works that same way as the RSI strategy works, you will find it very similar to this strategy.
We will give you a picture of the EFC indicator in action and what we recommend doing when you see a possible entry. Note: The EFC indicator is not an automated system.
This indicator shows you where the recommended placement of the stop loss, entry order, and take profit should be based on the strategy. We highly recommend you try it on a demo account before using this on a live account. This indicator will work and show you great places to enter trades. Always consider how liquid the market is and be aware of news events. You got this great trading tool we provided — EFC indicator.
You should learn about all of the unique features it comes with. And this is how do you trade with this indicator…. Step Three: Entry. Once there is divergence and the price action touches the set Entry line then the trade recommendation will now activate. A green arrow up means that this currency pair is heading for a reversal and you should BUY this pair.
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