The EFI Forex Indicator is a technical indicator. It is not a signal generator indicator but a confirmation indicator. You can use other indicators or strategies to combine with this tool. It can be used by beginners as well as experts and is a very powerful tool to know about the present market conditions. The special feature about this indicator is that it signals you instantly about the market direction. It can be used for scalping and swing trading purposes as well. It is useful when the market has mild volatility, not extreme volatile. Therefore, trade only during normal volatile situations by avoiding high impact news.
When you install EFI indicator in your metatrader 4, your chart should look like this:
EFI indicator is a histogram that moves in positive and negative territory. When the bars are in positive area, this indicates market is in bullish state. Inversely, when the histogram is in negative territory, this indicates that market is in bearish state. This indicates selling signal.
Buying Conditions Using EFI indicator.
– Market should be up trending.
– The EFI indicator should move to the positive territory from the negative territory.
– Place your long position as soon as above conditions are met.
– Place your stop loss just below the recent swing low.
– Take your profit when the EFI indicator dives into the negative territory.
Selling Conditions Using EFI indicator.
– Market should be down trending.
– The EFI indicator should dive into the negative territory from positive territory.
– Place your short position as soon as above conditions are met.
– Place your stop loss just above the recent swing high.
– Take your profit when the EFI indicator rises to the positive territory.
Forex Indicators Download – Instructions
EFI Forex Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
EFI Forex Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
Do the same with template file (.tpl), if there is any, at File/Open Data Folder/templates.
How to install EFI Forex Indicator.mq4?
- Download EFI Forex Indicator.mq4
- Copy EFI Forex Indicator.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on EFI Forex Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator EFI Forex Indicator.mq4 is available on your Chart
How to remove EFI Forex Indicator.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Download Metatrader 4 Trading Platform:
- Free $30 To Start Trading Instantly
- No Deposit Required
- Automatically Credited To Your Account
- No Hidden Terms
Click The Link Below To Download: