Ichimoku Scanner Dashboard

The Ichimoku Scanner Dashboard is a useful tool for traders who use the Ichimoku trading strategy. This indicator automatically scans multiple currency pairs on different timeframes to find trading opportunities based on various Ichimoku trading signals. In this article, we will explore how the Ichimoku Scanner Dashboard works and how it can be used to enhance trading decisions.

What is the Ichimoku Scanner Dashboard?

The Ichimoku Scanner Dashboard is a trading tool designed for MetaTrader that scans the market for potential trading opportunities based on the Ichimoku trading strategy. It uses an algorithm that automatically scans multiple currency pairs across different timeframes and presents the results on a dashboard.

Ichimoku Scanner Dashboard
Ichimoku Scanner Dashboard

The dashboard eliminates the need to manually monitor multiple charts, making it a time-saving and convenient tool for traders. The Ichimoku Scanner Dashboard comes with 72 settings and features various Ichimoku trading signals, such as Price Kumo Breakout, Tenkan-Kijun Cross, Chikou/Cloud and Chikou/Price, Support/Resistance, Stochastic OB/OS and back, Awesome Oscillator, and Higher Timeframe Ichimoku Trend Align.

Ichimoku Scanner Dashboard Strategy

The Ichimoku Scanner Dashboard is a trading tool that can help traders find trading opportunities. One strategy to use with this indicator is to combine it with support and resistance or TDI indicator. For a buy signal, check for price Kumo breakout, Tenkan-Kijun cross, Chikou cloud distance, support/resistance, Stochastic, and Awesome oscillator.

Ichimoku Scanner Dashboard Strategy
Ichimoku Scanner Dashboard Strategy

If all conditions are met, you will receive a buy signal. Similarly, for a sell signal, check for the opposite conditions. Additionally, set stop-loss near the blue Kijun Sen (baseline) and take profit near the SR line. You can also wait for the Stochastic to show an oversold/overbought signal or use TK cross in the opposite direction as a closing trade signal.


Buy Signal

  • Price breaks above the Kumo cloud and is at least a minimum distance away from it
  • Tenkan crosses above Kijun and is at least a minimum distance away from it
  • Chikou is at least a minimum distance away from the Kumo cloud
  • Price is at least a minimum distance away from resistance (either using the SS-SR or NRTR indicator)
  • Awesome Oscillator is above the zero line and green
  • Traders may open a long position when the above requirements are met
  • Set a stop loss for your position near the Blue Kijun Sen (Base Line)

Sell Signal

  • Price breaks below the Kumo cloud and is at least a minimum distance away from it
  • Tenkan crosses below Kijun and is at least a minimum distance away from it
  • Chikou is at least a minimum distance away from the Kumo cloud
  • Price is at least a minimum distance away from support (either using the SS-SR or NRTR indicator)
  • Stochastic is in the overbought zone and shows signs of reversing
  • Awesome Oscillator is below the zero line and red
  • Traders may open a short position when the above requirements are met
  • Set a stop loss for your position near the Blue Kijun Sen (Base Line).

Ichimoku Scanner Dashboard Pros & Cons

Pros

  • The Ichimoku Scanner Dashboard saves time by automatically scanning the market for potential trading opportunities based on the Ichimoku strategy.
  • The indicator is customizable and can be tailored to meet a trader’s specific trading needs.
  • It eliminates the need to manually monitor multiple charts, which can be time-consuming and inefficient.

Cons

  • The Ichimoku Scanner Dashboard is designed specifically for the MetaTrader platform, which may limit its accessibility for traders who use other trading platforms.
  • It requires knowledge of the Ichimoku trading strategy to use the indicator effectively, which may be a barrier for novice traders.
  • The Ichimoku Scanner Dashboard is not a standalone tool and should be used in conjunction with other technical and fundamental analysis tools.

Conclusion

In conclusion, the Ichimoku Scanner Dashboard is a valuable trading tool that can significantly enhance a trader’s ability to find potential trading opportunities based on the Ichimoku trading strategy. It offers a convenient and efficient way to scan multiple currency pairs across different timeframes and presents the results on a dashboard. The indicator’s multiple customizable settings and features make it a flexible tool that can be tailored to meet a trader’s specific trading needs. By using the Ichimoku Scanner Dashboard, traders can save time, reduce the potential for errors, and make more informed trading decisions.

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