If you are familiar with the BBMA trading system, then this indicator or tool is the perfect addon. It is a specialized tool but can also be considered a complete trading system. It consists of multiple indicators designed for this algorithm trading. BBMA system is made by Mr. Oma Ally and the BBMA Dashboard tool is published by Alireza Yadegar from Iran. The system is relatively new, from mid-2016, and the tool soon followed a release on the MQL5 market, for the MetaTrader 4 platform. The developer regularly updates it, adding new functionalities, settings, design, and fixes.
The latest version is 6.1 updated in April 2020. The system and the tool already have some attention from the market. Alireza Yadegar has 9 other products that have similarities with this strategy, also some free and useful tools. BBMA Dashboard is in the paid indicators category although it is affordable considering it Is a complete system.
BBMA Dashboard has all the elements of the trading system, introducing the dashboard, alerts, and other features. The Overview page does not fully explain the system logic, just how the use the Dashboard. It is also useable by traders that have similar systems or just for having an overview of trading opportunities. Essentially, the system uses the Bolinger Bands indicator, Moving Averages types, and the rest of Money and Risk Management methods defined by the Stop Loss, Take Profit, and indicators. All of the elements can be customized, Moving Averages can be transformed into other types, not just the WMA (Weighted MA), EMA or SMA.
The system is a mix of Moving Averages, on multiple timeframes inside the Bollinger Bands channel. The signals are defined on the crosses, candle crosses, slopes, and other factors. Combining higher and lower timeframes a signal can be aligned, increasing its validity. At some points, the system is following reversals, breakout, and trend following strategies. Scalping is not suggested although it is not evident as inappropriate. On the contrary, scalping is possible with the latest edition that introduces MACD and Stochastic filter, allowing traders to scalp on reentry The Dashboard will show an alert when the WMAs are touching, when the candle is closing outside of Bollinger Bands, when the WMA5 is outside the Bands, and other aspects and rules of the BBMA system.
Having multi-timeframe signals will be essential therefore they are represented as green and red boxes for each timeframe and asset. A gray box means there is no signal, probably means the market is ranging or the price is in between the Moving Averages. The Dashboard is customizable, traders can select what asset will display, or use the automatic mode. Keyboard interaction is supported, also right-click context menus, making the Dashboard interactive and easy to use. Visually the frame of the Dashboard is adjustable by Y and X-axis, also the font, box dimensions, colors, and so on.
In the settings panel, traders have complete freedom. The main functional option is to select what kind of method or algorithm will be sued, as there are many combinations, from “Reentry” to “CSAK” (standing for closing candle beyond Middle Bollinger Band signal). Since the system has many elements, traders will have to find what method they find most appropriate to their trading style. Some of the options listed in the Overview page are Pip distance between the MA for the signal trigger, mid-Bollinger Band level filter, the latest Stochastic and MACD filter, and many alert clauses.
The BBMA Dashboard is specialized for the system that is commercialized by the inventor, that has presentations and classes in Malaysia. The system is easily assembled and the MT4 template can be found online. The Dashboard tool cost on the MQL5 market, however, is $80 with 5 activations, and $40 to rent for 3 months.
A demo is available will all the features on the demo accounts, so you can explore all the features. There are 2 reviews total until version 6.1, giving the tool a perfect rating. The reviews do not say much about the experiences with the Dashboard, but from other sources, we have found many positive remarks. The developer is very supportive as can be seen in the comments section, providing users with directions. He also has a telegram group for contact. If you are a BBMA system follower, the BBMA Dashboard is a must.
This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/41366