Saving a Strobe effect, made in the source window, a favorite?

I have created a Strobe effect by setting an in and out point in my Source (left window), going to motion effect editor, the clicking in the strobe box. I changed the duration to 3. Just what I wanted.

Is there a way to save that effect so I can put it on other clips in the timeline or add them to my source window when a clip needs it? It would be great not having to do it every time for every clip I want to use it on? 

I just made a few transitions favorites, I want to to do the same for this strobe effect.

Thanks