To visualize we’re in trade we can use several drawing styles : Changing this parameter you can vary how many profit you’re going to have from each trade.ĭraw mode: After trade signal generation EFC indicator follows an imaginary trade until take profit/stop loss is hit or new signal is generated. Let’s say, if your Risk:Reward ratio is 1:3 and your stop loss is 100 points, your take profit will be 100*3=300 points. Risk:Reward (1:X): Take profit is calculated automatically by stop loss distance and by this ratio. But you can adjust it, moving the SL farther or nearer with this parameter. By default, it is placed right on the high/low value. Stop loss margin, points: Stop loss level is calculated by using lowest colored candle (BUY trade) or highest colored candle (SELL trade) in the pattern. You can tighten the conditions and vice versa to mitigate them, if you think the market needs it. Overbought/oversold levels: By default, 80/20 values are used to detect when market reached the reversal point. Period: Period of standard RSI indicator, which is used for pattern recognitionĪpplied price: Price to which RSI indicator is applied. Usually, range about 50-100 bars is completely enough to detect trade pattern. Range of scanning, bars: Since the indicator works in real-time mode and helps to analyze current situation, it needs some history to look in to find RSI pattern. The take profit and stop loss levels are auto set to 1 risk to 3 reward ratio.

You will also see a green arrow point up (for a buy) or a red arrow pointing down (for sell). When a SELL trade is triggered the remaining candles will turn red until the set stop loss or take profit is reached. When a BUY trade is triggered the remaining candles will turn green until the set stop loss or take profit is reached. Then when divergence occurs with price action and RSI dark blue candles will form (default color). The entry line forms when the RSI hits a critical level and the candles turn orange (default color). This indicator works the same way on every time frame (M1-MN).It is recommended that you stick with the one time frame when you make a trade that the indicator triggered on. The creators of the system believe that it is an easy, fast and clean indicator that is “proven to make you money.” The EFC indicators can be customized to your preferred settings. The purpose of this indicator is to help traders find more accurate trade entries.

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