Ichimoku Scanner Dashboard – Extras
This post contains the extra Metatrader 4 indicators for mql5.com Market product:
Ichimoku Scanner Dashboard
Additional indicators/template:Ichimoku-Scanner-Dashboard-Extras.zip (438 downloads)
To use Ichimoku.tpl file, in Dashboard properties: “Use Template For New Window”: Ichimoku
Dashboard uses Ichimoku Strategy to find best trades.
Use this template: specify “Ichimoku” in Property: “Use Template For New Window”
* If price above at least min distance from Kumo
* If “Check Tenkan Kijun Cross” true and Tenkan at least min distance above Kijun
* If “Check Chikou Cloud Distance” true and Chikou at least min distance away from Kumo
* If “Check Support/Resistance” true and price at least min distance away from Resistance
* If “Use Stochastic” true and price within safe Stochastic Overbought/Oversold
* If “Only when Overbought/Sold and back” true then also check if price was Oversold and back in previous bar.
* If “Use Awesome Oscillator” true then check Awesome is above and Green.
If all above conditions are met, you will get a BUY Signal. For SELL vice-versa
And while trend is good, it shows B-Zone/S-Zone.
It uses: “SS_SupportResistance_v07.53” indicator to calculate SR Lines. Available as extras in link above.
* If “Check Support/Resistance” true
For BUY Check price distance from Resistance. And for SELL check price distance from Support.
8 Using the “Min Distance From S/R” values:
If safe to trade, show a Green Tick in the BUY/SELL buttons. Else show a Red Cross.
So, if your timeframes are M5,M15,M30 and the “Min Distance From S/R” values are 10,20,30.
Then for BUY for M5, check if price is at least 10 points away from Resistance.
(e.g. for EURUSD if resistance is at 1.10050, then price should be at least below 1.10040).
* If “Only Alerts When Safe S/R” true get Alerts for only Safe trades.
Ignore alerts for other trades where price too close to Resistance (for BUY) or Support (for SELL)
(Note: Only alerts ignored. BUY/SELL buttons will still light up with green/red ticks)
Higher Timeframe Alignment Check:
Force Align Check True: looks at higher timeframes to see if Trend is aligned with current timeframe’s trend or not.
E.g. if current TF is M30 and has a BUY Signal (price above Kumo and all other checks satisfied)
And “Number of higher TF Check for Trend Align” is 2, then it will check if H1 and H4 both also have price above Kumo (not necessarily Min Distance away).
HTF Alignment check only checks higher timeframes overall Trend direction. Meaning only if price above Kumo for BUY and below for SELL. And won’t look for other checks. Because otherwise signals will be too limited.
And it helps you trade only when higher timeframes are also in the same direction trend.
– Own Pairs List or Select pairs list from drop-down like “Forex Core 7”, “Forex Core 14”, etc.
– Time frames. Possible values: M1,M5,M15,M30,H1,H4,D1,W1,MN1
– Min Distances: 30,40,50
(Converted to points. Eg for H1 EURJPY: if kumo is at 116.800. And this value is 50. It will check if price is at least above 116.850)
– Settings for showing alerts: Popup, email, sound alerts, etc.
– x_axis, y_axis: to position Scanner Dashboard
– fontSize: resize whole panel and fonts. Use fontSize between 5 and 8.
– ColumnsNum: No of Dashboard Columns
– OnButtonClick Open New Window: On clicking any button open that Pair-TimeFrame in a new window with your template:
– Use Template for New Window: Template name without “.tpl”. Eg: Create a file Template1.tpl in templates folder and here specify: “Template1”.
(only works if previous property set to true). Does not work if on button click is set to open in current window.
– Shift: Bar for which all conditions are checked. Default 0 (current bar).
– Refresh After Ticks (if shift 0): For shift 0, wait for this number of ticks before refreshing everytime.
If using higher timeframes use a much higher number like 300 or 500.
– Use Heiken Ashi Price: If true Use Heiken-Ashi bar close price instead of actual bar close.
– Use Stochastic: If true use stochastic indicator to find good BUY/SELL.
If “Only when Overbought/Sold and back” true: Good BUY if Stochastic went Oversold below 80 and back. Good SELL if went OverBought and back.
– Min Price-Cloud Distance: Minimum distance between price and Kumo Cloud.
– Max Tenkan Price Distance (comma separated): Maximum Distance in points between Tenkan and Price. If 0 then no check done.
– Tenkan and Kijun Location with respect to Cloud:
– Strong Signal: Above/Below: Above for BUY and Below for SELL.
– Medium Signal: Above/Below Above or Inside for BUY and Below or Inside for SELL.
– Weak Signal: Anywhere
– Check Tenkan Kijun Cross: true/false
– Min Tenkan Kijun Distance: If above true then check this Min distance between Tenkan and Kijun.
– Check Chikou Span: true/false
– Min Chikou Distance: If above true then check this Min distance between Chikou and Kumo or Chikou and Price.
– Alert On TK Cross: true: Alert when T & K cross and also show if cross happens above,below or inside Kumo.
For BUY TK Cross Strength:
TK Cross Up: Above Kumo (Strong)
TK Cross Up: Inside Kumo (Medium)
TK Cross Up: Below Kumo (Weak)
Filter On: True means only show Alerts for Medium and Strong TK Cross. Ignore weak signals.
How to Trade:
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 opposite direction as a Closing Trade signal.