The forex dashboard indicator is a custom indicator that displays in a new window box that appears in the foreground above the main chart.
The position of the dashboard forex indicator may on the top left, bottom window, or the top right. It depends on the indicator programmer’s settings.
Unlike most forex indicators, the forex indicator dashboard does not have indicator lines like Moving averages, Bollinger bands, RSI, etc. However, it can be a color combination or a number that works as a signal for the dashboard indicator.
- 1 What is dashboard indicator forex?
- 2 How does it work?
- 3 Forex trend trading dashboard indicator
- 4 Forex 3 EMA dashboard indicator
- 5 Swing dashboard forex indicator
- 6 Forex ABCD dashboard indicator
- 7 Dashboard indicator forex breakout
- 8 Dashboard indicator forex buy sell signals
- 9 Dashboard indicator forex ADX
- 10 Dashboard indicator forex ATR
- 11 Dashboard indicator forex AI
- 12 Dashboard indicator forex pros and cons
- 13 Final thought
What is dashboard indicator forex?
Dashboard definition is an instrument board. The term dashboard is used for the type of indicator that contains the instrument board. It shows several currency pairs or different timeframes on one board.
Most indicators are usually only on specific timeframes. So for example the indicator in the H1 timeframe, then it will only calculate the indicator formula by retrieving the data on the H1 timeframe.
And it can’t count on the H4 timeframe if the trader opens the H1 timeframe. The only way is to switch the timeframe from the H1 to the H2 timeframe.
This is the difference with the dashboard indicator, which was created to scan both different currency pairs and different timeframes on one instrument board.
How does it work?
The dashboard indicator is designed to be able to perform in-depth scanning on all currency pairs and timeframes covered in MarketWatch. Then the indicator will translate the signals found on the instrument indicator panel displayed on the dashboard.
In this case, the forex trader must know by learning how to read each instrument displayed. In scanning trading assets, the forex indicator dashboard will track signals with certain parameters that become algorithms.
For example, the indicator works based on MACD. So if the indicator finds buy and sell signals on MACD. Then it will be displayed on the indicator panel on the pair found and a buy signal will appear on the pair in question on the dashboard instrument panel.
There is also a dashboard indicator that only takes the average by showing an up arrow or a down arrow as an indication of an uptrend or a downtrend.
Forex trend trading dashboard indicator
Various forex trend indicator dashboards are built with different reference indicators. But the most popular is the Trend Dashboard Trading System from Forex Strategies.
How these indicator works are to scan trends on several timeframes in one currency pair. The instrument panel consists of trend 1, trend 2, trend 3, and trend 4.
Each Trend uses a different method in scanning the direction of the trend. There is no detailed explanation, but it could be that each Trend uses different indicators in scanning the time frame.
The chart shows Trend 1 for 1-minute timeframe, 5-minute timeframe, 15-minute timeframe, and 30-minute timeframe. Likewise Trend 2, Trend 3, and Trend 4, all scan these timeframes with different methods.
The result will display with an Up symbol with an up arrow and a down with a down arrow with a different color.
You can see from the image above, besides the trend dashboard indicator showing Trends 1, 2, 3, and 4, it also scans the account name, account number, leverage, currency, equity, margin, last price, open price, and high price.
How to use it
How the rule of reading the indicator is to act as an advisor, for example, if you only focus on Trend 1, when the Trend 1 metric line shows Up in three timeframes and Down in one timeframe, it means a recommendation to buy positions. On the other hand, if on three timeframes it gives a down signal and one up signal, then a recommendation sell position.
Or if you only focus on Trend 2, the rules are the same, there are at least three of the same signals as entry references. You can also experiment by looking at all the Trends and taking the most recommended signals.
Where to get the Trend dashboard indicator?
You can download it for free at Forex Strategies Resources where there are many forex indicators that you can download and try.
Or you can try to download it here Trend Dash Board 2.
Forex 3 EMA dashboard indicator
This forex indicator dashboard based on 3 EMA was developed by several experts in creating indicators and expert advisors. Some of them are sold at various prices, some are even selling for $999.
3 EMA has a trading concept to look for trend signals up or down, usually through a cross between the EMA in the short period against the EMA in the long period. The EMA itself is a lagging indicator, which gives signals after the trend is formed.
You may be interested in the 3EMA dashboard which costs up to $999, but we’re not heading that way. And will provide an example of a forex indicator dashboard based on the 3 EMAs available at Forexfactory for free.
This indicator by its creators is called the OGT trend dashboard indicator. The signal scanning concept uses three moving averages with slow, medium, and fast settings.
By default, the slow MA uses a 200 period, the Medium MA uses a 100 period and the Fast MA uses a 50 period. Referring to the period used, this indicator tends to find long-term signals. However, users can change the slow EMA, medium EMA, and fast EMA settings depending on their preferences.
The OGT trend dashboard display does not appear in the lower window of the main chart, but its position is at the top of the main chart. So this covers the price chart at the top of the main chart.
To display all indicator windows, users must swipe left on the main chart, or close the Marketwatch and navigator windows.
This dashboard indicator scans six currency pairs, EURUSD, GBPUSD, USDJPY, USDCHF, AUDUSD, and USDCAD on all timeframes from M1, M5, M15, M30, H1, H4, Daily, Weekly, and Monthly. However, traders can add another pair to the setting indicator on the symbol.
How to use
This forex indicator dashboard uses colors to convey its signals to traders. You can find the mark for the indicator “input” setting in the indicator properties setting.
- Uptrend color: forestgreen.
- Downtrend color: red.
- Ranging color: gray.
To get a buy or sell signal, by looking at the color in each timeframe on the pair to be selected. For example, on EURUSD, it displays red on eight timeframes and forest-green on one M5 timeframe. It is a sell signal. In essence, this indicator only provides advice to traders and trading decisions are in the hands of the trader himself.
Where to get the indicator?
This indicator is shared by a Forexfactory member with the nickname zoheb01, you can find in https://www.forexfactory.com/thread/989415-new-trend-dashboard-indicator
Swing dashboard forex indicator
A swing dashboard indicator is an indicator designed for swing trading systems. There are swing dashboard indicators out there that sell them for up to $999.
The indicator components used in this Swing dashboard indicator are EMA and ATR. Fast EMA uses 50 periods and Slow EMA uses 200 periods.
This indicator displays signals on the timeframe of M15, M30, H1, H4, Daily, and Weekly for each pair scanned. Besides, it also displays Direction, age of bar, entry, stop loss, and profit targets on their respective timeframes.
We see that the dashboard display is in the bottom window of the main chart, users can get a wider view by sliding the indicator window up.
How to use
Although this indicator displays entry, stop loss and take profit signals, you may have missed buy and sell signals. If it is possible to find buy and sell signals in real-time on the selected timeframe, it is up to you to enter instant or use pending orders.
Where to get the Swing dashboard indicator?
This indicator out there is selling it at a high price up to $ 999, maybe not all traders have and are willing to spend that much money.
However, we found this swing dashboard indicator in the MQL5 community, where the indicator owner asked freelancers to modify the indicator.
But you can try it with this free swing trading dashboard at Forexforum.co.
Forex ABCD dashboard indicator
ABCD dashboard refers to a trading system using harmonic patterns as the basis for analysis. The ABCD pattern is a pattern that occurs frequently in various currency pairs.
The ABCD dashboard indicator works by scanning the harmonic pattern on the pair entered in the indicator symbol. The main display of the ABCD dashboard indicator is Symbol, Timeframe, Direction, Age, Pattern, and Completion.
Using the ABCD dashboard indicator may be quite confusing for beginners. Another alternative to detect ABCD patterns is to use the ABCD detector indicator.
Dashboard indicator forex breakout
Breakout trading is a strategy that refers to price conditions at support and resistance when a breakout occurs. where the price is no longer able to withstand the strength of the trend in the area of support and resistance.
The breakout indicator dashboard was created to scan the selected trading pair on all timeframes and display it on the instrument panel.
Programmers created this indicator with different versions even though they have the same goal. At a high level of complexity, this dashboard indicator may be quite complex for beginners. But some of them are designed simply.
Dashboard indicator forex buy sell signals
Design the buy-sell signal indicator dashboard to display buy or sell signals on the instrument panel on all scanned pairs and timeframes.
Some are created with the display of Bulls and Bears signals, some are displayed with Buy and Sell accompanied by a recommended Stop loss and Target profit recommendation. Buy and sell signals are generated based on the indicators used for signal scanning. Most use moving averages or MACD.
Like an advisor, this indicator provides entry signals for the respective pairs that have been fulfilled based on the indicators used as trading tools. Open a sell if the indicator shows a sell on the selected pair using a pending order.
How to get an indicator
Unfortunately, this indicator is not shared completely free of charge. But maybe you can find it by browsing on forex forums and asking forum members, although there is no guarantee it will work but there is no harm in trying.
In Dolphintrader, traders can request an indicator file after providing their email address, but this may make user privacy vulnerable to data sales.
Dashboard indicator forex ADX
For traders who use the ADX indicator as to their main trading tool, using the ADX indicator dashboard allows them to scan multiple pairs and different time frames and find ADX signals.
Some of these ADX dashboard indicators display color codes for signals that appear from ADX, and some are more complex, displaying more complete metrics.
How to get an indicator
To get this indicator no one is giving it away for free. But it is selling at the current price of $30 on the MQL5 market. One of the advantages of this ADX dashboard is that it can provide a signal confirmation by the ADX indicator. Thus traders do not have to scan one by one pair.
However, this indicator is quite complex to understand, so it is not suitable for beginner traders.
Dashboard indicator forex ATR
The trader often uses the ATR indicator is often to determine the ideal stop-loss point on the timeframe. The average ATR value provides information on changes in the average price during the time frame used.
There are ATR indicator dashboards to display multiplying ATR values. This value uses to stop loss or profit targets. On other ATR dashboards, there are also displays that display pairs and timeframes. And ATR values for each timeframe more simply.
How to get a dashboard indicator forex ATR
Some people try to sell Dashboard ATR indicators. But you might try requesting indicators through community forums like Forexfactory. Maybe some members are kind enough to share free indicators.
In MQL5, the ATR dashboard indicator you can get for free. The indicator was built by Somsri Sarkar and has received some positive reviews. Download indicators in MQL5.
Dashboard indicator forex AI
Some experts try to offer indicator dashboards powered by Artificial intelligence. In their efforts to find trading signals on the stock market, forex, cryptocurrencies, etc.
Dashboard© is a piece of software by Nick Nechanicky. He trying to create software with AI. It reveals that the biggest role in the forex market by banks that cycle through their actions for profit.
Dashboard indicator forex pros and cons
- Displays the signal of several pairs in one instrument panel.
- Allows scanning on all timeframes at once.
- It is possible to get entry suggestions along with profit targets and stop-loss levels.
- Requires carefulness in reading the signal.
- Signals with color markings may not be easy for everyone to read.
- High complexity is not suitable for beginners.
Creation of the forex indicator dashboard to scan more pairs on all timeframes to find trading signals on confirmed pairs.
The goal is to help traders in searching for signals in many pairs through one instrument board. The best forex indicator dashboard will depend on the trader’s decision and the support of the market itself.
Note: this article is for informational purposes only and does not constitute investment advice or solicitation. Forex, crypto CFDs are risky assets. Each investor is responsible for their investment.
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