The Fall is a non-repainting indicator that reveals the sell reversals precisely. As per the developer, this is a powerful tool to use in any chart. It provides alerts for sell orders only. The developer states that the arrows in the downtrend should be considered for the best results. You can use this on your Desktop meta trader platform only. The developer promises a free Trend filter when you rent this product.
Detailed forex indicator review
Bruce Webb is the developer of this MT5 indicator. He has two years of experience in the field and has developed 6 products which include the Price Predictor and Session Indicator. Bruce has developed one signal and 1998 demo versions up until now. He is from the United States of America and has published this product on the MQL5 site on August 9, 2021.
The current version of the product is 1.0. You can contact support via the MQL5 message board only. The inadequate support options and minimal info on the developer raise a red flag for this trading tool.
We could not find much info on the features and functionality of this product. The details present are insufficient to evaluate this system. As per the developer, the main features found in this indicator are entry alerts, signal alerts for the Open position of the Candle, and alerts are sent via desktop and mobile. No specific timeframe or currency pair is needed as the developer states that this MT5 tool works on any timeframe and pair. He recommends this FX indicator for newbies as well as for experts.
The Fall strategy tests
Other than mentioning that this tool is ideal for scalping and swing trading, the developer does not reveal info on the strategy. There are no backtests present for the system. The absence of strategy info and backtesting results raises a red flag. Since the trading approach is vital for any FX trading tool, the absence shows this is not a trustworthy tool. Furthermore, with backtests, you can understand the trading method in a better way although the results are not predictive of a similar performance in the future.
Real account trading results
The developer does not provide verified trading results for this indicator. There are a few trading samples posted on the MQL5 site. But these do not reveal significant info on the trading stats that help us analyze the system and find out the efficacy. We prefer real trading stats that are verified by sites like myfxbook, FXBlue, etc. Verification helps in assuring that the system is reliable. Further, the trading info such as the total profit, drawdown, lot size, profitability, etc. can be evaluated properly with the details found on the reputed sites. The absence of a proven track record raises another red flag for this system.
Only a rental option is present for this indicator. We find this is unusual as almost all MQL5 products have an outright purchase option or a combination of a purchase choice and a rental. To rent this indicator for a year, you need to pay $50. A free demo account is present. When compared to the other competitor products, the yearly rental looks affordable. We could not find a money-back guarantee for the product which confirms the unreliability of the MT5 tool.
We found 9 reviews for this indicator on the MQL5 site. While the reviews are positive, they have a high chance of being manipulated as the site promotes the product. We prefer reviews from reputed third-party sites like Forexpeacearmy, Trustpilot, etc. as such sites offer an unbiased view of the various aspects of the system. The absence makes us suspicious of the credibility of the product.
The Fall by Bruce Webb is a product that divulges very little info about its features, functionality, performance, and other aspects. From our analysis of the various important factors like the functionality, trading approach, and performance, we find this is an untrustworthy EA.
The inadequate customer support, absence of strategy explanation, lack of backtests and real-trading results, and the absence of user feedback are downsides that make this indicator an unreliable trading system.