The Ichimoku Scanner Dashboard is an indicator that is found in the MQL5 marketplace. We have added a link to it below. The scanner was created by Abir Pathals and was first uploaded on the 1st of September 2019, it has had a few updates, the most recent update was on the 13th of March 2020 and is currently at version 2.2.
Overview
The Ichimoku Scanner Dashboard is an indicator that was designed to be used with the MetaTrader 4 trading platform, it uses the Ichimoku strategy to help find the optimum trades.
Not all the options or features are really shown, however, there are sections explaining what is needed for a buy signal, some of them include things like if the price is over the minimum distance from Kumo if the use awesome oscillator setting is set to true and the is above and green, there are many other explained once you purchase the utility.
There is a how-to trade section:
“The best way to use this indicator is with Support and Resistance or TDI Indicator. Or any other indicator which might validate that trend is still strong and not near an SR Zone. In general set Stop-Loss near the Blue Kijun Sen (Base Line). Set Take Profit near SR line. Or wait for Stochastic to show that signal is oversold/overbought and possibly reversing. You can also use TK cross in the opposite direction as a Closing Trade signal.”
There is a large list of settings available for the indicator, they include things like using your own pairs, time frames, minimum distances, alert settings, font sizes, columns, refresh rates, min price, alert types, min Chikou distance, and many more options too.
Service Cost
The indicator will cost you $40 to purchase it outright and gain unlimited access, you are also able to rent it, the indicator can be rented on a one-month basis for $10 per month, you can also rent it or three months which will cost you $20 per three-month period. A free version is available, however, when looking through the site we could not see what the limitations of this free version were.
Conclusion
There are currently 5 reviews provided for the Ichimoku Scanner Dashboard, they are giving it an overall rating of 4.5 out of 5.
“Good for Ichimoku traders, out of 10 trades I lost only 2, it is good to take trade if all 3 time frame in same direction and plot trend line in lower time frame and enter the trade when price is retracing. Target is 5 pips less then swing high or low based buy/sell, stop loss based on your risk management, I used same strategy.” – A 5-star review.
“It doesn’t fit my own strategy that I use with ichimoku, so I don’t use the alerts, but the screening and fast scanning is amazing, the panel is very good looking. it works flawlessly, the documentation and tutorial video covers everything you need to know. great work 🙂” – A 5-star review.
“Great scanner. Works well if you understand Ichimoku and know how to configure it.” – A 4-star review.
So the reviews are all looking very positive which is a good sign, they are showing that it does what it is meant to and clients are getting value out of it, as always, we would recommend downloading and trying out the free version, just to make sure that it is right for you.
This Forex service is currently available for purchase in the MQL5 marketplace: https://www.mql5.com/en/market/product/41711
