The EFC Scanner indicator for Metatrader 4 is an amazing Forex dashboard indicator that delivers buy & sell signals for any currency pair and time frame.
It’s mainly based on price divergences and the RSI indicator.
All signals appear in a beautiful dashboard as colored signal arrows. You can add up to 30 different currency pairs.
The green UP arrow is confirmed buy setup signal while the red arrow is a confirmed sell setup signal.
You can apply this system to any time frame, ranging from M1 charts up to the daily charts.
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown below.
Key Points
- Delivers confirmed buy & sell signals
- Based on divergence + RSI
- Newbie friendly
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a buy & sell trend confirmation tool.
Free Download
Download the “EFC-Scanner.ex4” MT4 indicator
Indicator Example Chart
The USD/JPY 4-hour chart below shows the EFC Scanner indicator in action.
Basic Trading Signals
BUY:
- Open a buy trade as soon as the green colored “setup confirmed” arrow appears in the EFC scanner dashboard.
SELL:
- Open a sell trade as soon as the red colored “setup confirmed” arrow appears in the EFC scanner dashboard.
Download This Forex Indicator
Download the “EFC-Scanner.ex4” MT4 indicator
Adjustable Parameters & Settings
Alerts, add/remove currency pairs, colors, style
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: dashboard signals
How to install the EFC Scanner Forex indicator in Metatrader 4?
- Copy and paste the EFC-Scanner.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove the indicator from the chart?
- Right click in the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button