The Fall is said to be a great arsenal to add to any chart and is perfect for new and expert traders. Nevertheless, we are skeptical about the indicator. The vendor divulges very little information about it. Furthermore, we have no backtest and trading results that illustrate its performance. How then are traders supposed to trust the tool?
How the Fall indicator works
As an indicator, the Fall assists traders to forecast the behavior of the market and profit from it. In this case, the vendor specifies that the Fall is a non-repainting indicator. This means that it does not repaint its values after the price bar is closed. It usually utilizes this bar to ascertain the values and never change after it closes. After the opening of a new candle, the previous values of the indicator will remain fixed until the next opening.
A few features have also been incorporated into the tool. They are listed below:
- It is great for scalping and swing trading.
- Has arrow signals alert at “The Open of The Candle.”
- Provides mobile and desktop alerts.
- Works on any MT5 pair and any timeframe.
- The recommended broker is Coinexx.
The Fall is the work of Bruce Webb, a developer based in the United States. He has 2 years experience and has 5 other products to his name. They are; The Fall (for the MT4 terminal), Bruce Session Indicator, Bruce’s Price Predictor (for MT4 and MT5 platforms), and Bruce’s Predictor Dashboard. No more information about him is supplied. We are left wondering about his other skill-sets, qualifications, reputation, the company he represents, and if he is part of a larger team that develops these tools, among other things.
The vendor asserts that the indicator focuses on showing you the Sell reversals. Therefore, to get the best results, you are advised to only take the arrows in a downtrend.
Backtest results for this software are missing. This leaves room for speculation. On the one hand, it is likely that the developer did not test the validity of the system’s trading idea. On the other hand, he might have tested it and was not impressed with the resulting data.
The Fall trading results
Live trading results are unavailable as well. Without it, we can’t know the likely win-rate percentage, trading frequency, average figures for wins and losses, and the profitability/drawdown ratio of the indicator. The lack of this data also raises serious questions about the effectiveness of the trading tool. Perhaps the vendor doubts the performance of his creation and doesn’t want us to find out. Creating a trading account on a site like Myfxbook.com will help clear the air on this issue.
Pricing & refund
The Fall can only be rented. With only $50, you can hire it for a full year. Sadly, this offer does not include a money-back guarantee. The indicator’s pricing is definitely cheap, and this may make you think that it is worth this money. Nonetheless, we are not really sure. We don’t know the number of profits or losses it makes since the trading data is unavailable. You may want to test the indicator first to find out if it will give you value for money prior to making any purchase.
There are 12 reviews for the Fall on mql5. Eleven of these testimonials are positive and say that the indicator is great. However, they do not talk about its performance, a subject which we are more interested in. The one negative feedback reveals that the software is useless in real life, although it is written in Russian.