SFI Indicator provides trading signals on your MetaTrader chart by scanning the markets on auto mode. The algorithm does not repaint itself and works on all time frames. Our article will discuss how traders can use the algorithm in their trading and provide a verdict on implementing it in your charts.
Detailed forex robot review
The indicator is available to download after you make a purchase from the developers’ website. Traders can then install it on the MetaTrader platform and place trades based on the signals.
The company behind the program is called SinryAdvice. They claim to be based all over the world and state that they have headquarters in Malaysia. The members belong to multiple countries. There is no record of their portfolios and trading experience. The company claims to have 18 employees.
SinryAdvice has the following set of features:
- It provides signals that traders can use to place trades
- It can be coupled with other algorithms
- It can work on all time frames, and it does not repaint itself
- It offers a 79% verified win rate
- It can provide pop up notifications and alerts
How does it work?
The algorithm can be downloaded after purchasing it from the developer. After that, traders will have to place the ex4 file in the indicators directory. Refresh the indicators tab, and the algorithm will be visible. Place the algorithm on respective charts, and it will start giving signals.
SFI Indicator strategy tests
The indicator works best on 5M, 15M, and 30M time frames. The developers recommend not to use it on volatile days. There is no further information on the strategy, which is quite a poor approach. It can be hard to combine the indicator with other algorithms if we do not have information on the game plan.
As the product is the indicator, there are no backtesting results available. It would have been possible to use it on a simulator and share the records with us; however, the developer does not. Lack of transparency on multiple factors is not good for the output of the system.
Live trading results
Real trading results are tracked via Myfxbook, which shows performance from April 28, 2020, till July 16, 2020. The robot had an average monthly gain of 44.64%, with a drawdown of 6.72%. There was $2493.62 in deposit and $0 in withdrawal. The balance of the trading robot was $2225.97. They only share an image with us, and there are no hyperlinks to the results. Again, this is an extremely poor approach, and lack of records makes us believe that the indicator is not as profitable as the company claims to be.
The indicator can be bought via the company’s website for a one-time price of $48. There is no money-back guarantee. Considering the fact that there are no live records and there is no transparency on the strategy, the indicator is not worth the cost.
Customer reviews are only available on TrustPilot for SinryAdvice which gives them a rating of 4.0 for a total of 50 feedback. Users state that the EAs available by the company blow the trading accounts. They also state that the bots are a copy of other algorithms and that the developers are just scamming traders.
SFI Indicator does not come with a detailed strategy and live results, which could have proved the performance. The company is not transparent on the records, which adds fuel to the fire. Therefore it is not recommended to use the algorithm.
Moreover, the trading