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MT4 Review: EFC Indicator

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 info@tradingstrategyguides.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.

Breakdown

  • 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.

Trading Results

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.

Conclusion

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.

EFC Indicator $99
  • Pricing
  • Strategy
  • Results
  • Feedback
  • Support

Summary

The EFC Indicator has been on the market for many years. Recently, one of our readers found an issue with the product, but was unable to get support.

Overall
2.8
Comments Rating 2 (1 review)

Pros

Trades 30 pairs
Multiple timeframes

Cons

No verified results
Limited strategy insight
Poor support

About Patrick Ryan

Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He's eager to help traders achieve their investment goals, whether they are short or long-term. Patrick's penned thousands of reviews, and is always available to discuss trading with anyone who's interested.

26 comments

  1. I just came across your site looking for help in working with the EFC indicator I just purchase from ebay. I have seen this indicator on another site for $47.00 but I got it for $15.00. I’m new with trading and it’s been quite an journey to understand. So trying to get something to help me I purchase this indicator. Now reading through reviews on this page I see it was not a good idea.
    Just starting this journey with trading and researching finding out about indicators I have purchase two from ebay but I find that so far some of them don’t come with instructions only just how to install so at the moment neither of them I have not been successful. Most of the indicator I would be interested in is the Buy & Sell Signal ones since that MT4 coming with indicators already.

  2. Hello Patrick, i have some questions about the indicator, how can i send you an email or are there any other ways to contact you besides of this chat? Thank you, Zolie

    • HI Zolie, the chat here is generally the best way, as it allows for the rest of the Forex Robot Nation community to take part and learn.

      • Hello Patrick, thank you! So the question is about the way the indicator paints the bars – many times there are complete buy/sell historical areas painted fully green or red – on h4 or d1, almost like up and down trend runs are just the same color…. what is the reason behind it? I dont see this behaviour in the manual – in the pdf, it makes a lot of sense of the colors change after a consolidation and after the blue bars, the following bars turn to red/green as expected. Thank you, Zolie

        • I’m not sure about this either Zolie. I’m sure one of the Forex Robot Nation readers can help, and I’ll look into it myself. Did you ask the EFC Indicator support team?

          • Well, i found the creator (Trading Strategy Guides, but there is no contact / info on their website, do you guys have any contact infos by a chance? Thank you, Zolie

          • Yes Zolie, we actually have this information at the op of our review, it’s info@tradingstrategyguides.com. Please update us with their response, and let us know how effective their support is.

          • Thank you, i’ll let you know!!!

          • hi Patrick, after several days there is still no response for the last two emails sent to their support. The EFC indicator is a colored mess, totally useless so far and doesn’t work properly, nowhere near close to the manual, which is also a bad joke.
            Of course, within the last few days i received numerous marketing emails from them and OTHER vendors (??), so bottomline this company seems to be a total joke.

            Zolie

          • Ya, there’s a lot of companies like this in the Forex market. They pump out new products, put you on some sort of automated email list, but don’t actually have anyone available to answer emails. I appreciate that you looked in to this for us, and we will update our customer support rating appropriately.

          • So this morning they issued a refund without making any efforts to fix the problems with the indicator. End of story…..

          • I guess their hope is that less knowledgeable traders than you don’t pick up on the flaws. Thanks for providing us with all this helpful information Zolie.

  3. Anyone using EFC Indicator still? Is this going to be good in 2021? Thanks for your help.

  4. This i a very good indicator to be view the currency status on different TF’s. It is a instrument near other indicators to be watch for possible trade moments.

  5. I want buy an forex robot ,im thinking about EFC robot,please can you give an advice which robot i can buy without any bad experiece?
    Many thanks

  6. Can the etc indicator be used on the futures market ? I trade 30 yr bonds exclusively

  7. Please how can I get the indicator? From Jonathan. Tnx

  8. No indicator is going to do the trading for you. This (and most other indicators) do exactly what they’re supposed to do… INDICATE a desirable condition exists. It is then up to you… the trader… to act or not act depending upon your understanding of the current market conditions.

  9. I purchased the EFC to use for Binary Options trading. Unfortunately it did not work for me….perhaps due to my inexperience and lack of trading skills, or perhaps the short time-frames of Binary Options do not allow it to work to its potential. However, my communication with the provider was exceptional and I was paid a refund without any fuss. I commend this seller for integrity and courtesy and would urge readers to consider this product themselves.

    • Phillip van Coller

      Agreed, they are a great bunch of traders and insanely helpful.

    • Short time frames are not where the money is to be made.
      You would do better to look at the higher timeframes and hold positions overnight.
      Just be wary of Swaps.

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