EFC indicator for accurate trade entries-Find Winning Trades 2019

EFC indicator for accurate trade entries-Find Winning Trades 2019

The EFC indicators could be personalized to your most well-liked settings. This indicator works the identical manner on each time-frame (M1-MN).It's endorsed that you just persist with the one time-frame whenever you make a trade that the indicator triggered on. The entry line varieties when the RSI hits a important stage and the candles flip orange (default coloration). Then when divergence happens with worth motion and RSI darkish blue candles will type (default coloration).

When a BUY trade is triggered the remaining candles will flip inexperienced till the set cease loss or take revenue is reached. When a SELL trade is triggered the remaining candles will flip purple till the set cease loss or take revenue is reached. Additionally, you will see a inexperienced arrow level up (for a purchase) or a purple arrow pointing down (for promote). The take revenue and cease loss ranges are auto set to 1 danger to 3 reward ratio.
 
Inputs:

Vary of scanning, bars: Because the indicator works in real-time mode and helps to research present state of affairs, it wants some historical past to look in to search out RSI sample. Often, vary about 50-100 bars is totally sufficient to detect trade sample.

RSI parameters:

Interval: Interval of ordinary RSI indicator, which is used for sample recognition
Utilized worth: Value to which RSI indicator is utilized.

Overbought/oversold ranges: By default, 80/20 values are used to detect when market reached the reversal level. You may tighten the circumstances and vice versa to mitigate them, when you suppose the market wants it.

Cease loss/take revenue settings:

Cease loss margin, factors: Cease loss stage is calculated by utilizing lowest coloured candle (BUY trade) or highest coloured candle (SELL trade) within the sample. By default, it's positioned proper on the excessive/low worth. However you may modify it, transferring the SL farther or nearer with this parameter.

Threat:Reward (1:X): Take revenue is calculated robotically by cease loss distance and by this ratio. Let’s say, in case your Threat:Reward ratio is 1:3 and your cease loss is 100 factors, your take revenue will probably be 100*3=300 factors. Altering this parameter you may differ what number of revenue you’re going to have from every trade.

Drawing settings :

Draw mode: After trade sign technology EFC indicator follows an imaginary trade till take revenue/cease loss is hit or new sign is generated. To visualise we’re in trade we are able to use a number of drawing kinds :

-Coloured bars (purple for quick place, inexperienced for lengthy place) from low to excessive.
-Coloured bars from open to shut
-Bricks above/beneath candle
 

Candle width: By default bars concerned into trade are painted atop of chart bars/candles with the identical width, however you may change their width when you’re keen to

Lookback line/Purchase sign/Promote sign/Cease loss/Take revenue colours: Every sort of drawings indicator makes could be adjusted to coloration you want.

Free Obtain :

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The EFC indicator 

Consumer’s handbook ( PDF & movies )

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