Market Reversal Alerts Dashboard MT5 is a specialized trading tool designed primarily to notify you about potential reversal opportunities on various timeframes. It also sends re-test alerts as the indicator does. This comprehensive MT5 review will delve into its features, operations, and benefits to give you a clear understanding of this innovative trading tool.
Functionality and Operation
The functionality of the dashboard is centered around alerting users to reversal opportunities on specific timeframes, particularly M5, M15, M30, H1, H4, and D1. It is designed to operate effectively even with one chart open, making it a functional tool for forex trading.
The dashboard operates in sync with the Market Structure Reversal Indicator. It sends alerts for patterns and signals provided by this indicator, making it a valuable tool for forex market analysis.
User Interface and Customization
The user interface of the MT5 dashboard is designed for convenience. It allows you to adjust the size and position of the dashboard, select pairs to show, and adjust fine-tuning settings for the market reversal indicator. Additionally, you can customize your broker’s suffix or prefix as required.
The dashboard also offers customization for alert preferences. Users can choose among pop-up, email, or push notifications. The text for each alert can be adjusted according to the user’s needs, enhancing the efficacy of the trading dashboard.
Market Reversal Alert Indicator
The Market Reversal Alert Indicator is an integral part of the dashboard. This indicator is meant to provide early alerts when shifts in the market structure could potentially occur. This feature is extremely valuable in devising trading strategies that capitalize on market shifts.
The indicator draws rectangles on the candles of opposing colour to a trend or move. This structure supports a continuous move in one direction until the price closes above/below it in the opposing direction. The basic premise of the indicator is to alert the trader when a bottom has formed, and a change in the market structure is imminent. However, if the price continues in the same direction, the indicator removes the alert from the chart and continues to draw in new structure.
Independent Testing and Updates
For those interested in seeing the dashboard in action, independent testing of this product is available on the forexroboteasy.com website. Subscriptions for updates on the results of testing this product are also offered, providing users with regular insights into its performance.
FAQ Section
Can the dashboard be used independently?
Yes, the Market Reversal Alerts Dashboard MT5 can function independently, while also being designed as an add-on for the Market Structure Reversal Indicator.
Which timeframes does the dashboard alert on?
The dashboard alerts on M5, M15, M30, H1, H4, and D1 timeframes.
What customization options does the dashboard offer?
The dashboard allows you to adjust the size and position, select pairs to show, adjust fine-tuning settings for the market reversal indicator, and customize alert preferences and texts.
We welcome the reader to share their experience of using this product. Please note that this review is independent and does not endorse or advertise any product.
However, upon using the software, I quickly realized that the reality was quite different from the promotional images. The so-called "dashboard" does not display the long and short signals as one might expect. Instead, it merely provides alerts when these signals are generated. While this feature might be useful for some, it was not what I was looking for. I was expecting an actual dashboard where I could easily check all the latest signals, not just receive alerts.
This discrepancy between the advertised product and the actual software feels like false advertising to me. I feel misled by the promotional images and wouldn't have purchased the software had I known the true functionality. For this reason, I can only give the product a 2-star rating.
Furthermore, if you have already purchased the market reversal alert indicator EA, you can achieve exactly the same outcome by running alerts on the pairs you are interested in. This makes the "Market Reversal Alerts Dashboard MT5" redundant and unnecessary.
In conclusion, the "Market Reversal Alerts Dashboard MT5" did not meet my expectations and I was disappointed with my purchase. The product does not deliver on its promise of providing a comprehensive dashboard for monitoring signals, and is essentially just an alert system. Potential buyers should be aware of this before deciding to purchase the software.
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