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What is the iSAP Forex Scanner?


The iSAP (iFT Scan and Alert Pro) is an advanced Forex scanner that works with Meta-Trader4 platforms. The iSAP scanner identifies chart patterns and setups used by the professional iFundTraders Master Forex Traders and then alerts traders when these events occur by voice and sound alerts, email, and labels on the charts.

The iSAP has unique sophisticated algorithms that can also report ‘anticipated events’ when the iFundTraders setups are likely to occur even BEFORE the candles complete forming the setups, thus giving traders more time to prepare for possible entries and not missing them.

The iSAP also scans and alerts for important single bar events such as topping tails and bull/bear elephant bars that occur in KEY LOCATIONS on the charts, thus helping traders focus their attention to these areas when analyzing the charts. Please check out this pdf file containing a brief description of the key iSAP confirmed events.

Listen to Dan Mielcarski, VP of trader education at iFundTraders
discusses the iSAP's benefits and features

 

Dan Mielcarski discusses the iSAPDan Mielcarski discusses the iSAP

Watch a video demonstration of the iSAP Use

Some Key Benefits of the iSAP advanced FOREX scanner

Helps traders avoid missing the entries they have been waiting for. Sometimes waiting for the appropriate trading event may take hours making it hard for traders to stay next to the computer waiting for these events to occur. Now traders can do other things while waiting, and get alerts when its time to look again at the charts when the anticipated and confirmed setups are reported by the iSAP.
The iSAP helps traders identify important setups on the charts that may be good trading opportunities. The trader can then look at the currency pair in different time-frames to determine if any given setups identified by the iSAP would be appropriate trade or not.
The iSAP scans and alerts when important single bar events such as topping tales and bull elephant bars occur in KEY LOCATIONS, thus helping traders focus their attention on important bars on the chart when analyzing the charts.
The iSAP has unique sophisticated algorithms to determine and report ‘anticipated events’ when the iFundTraders setups are likely to occur even BEFORE the candles complete forming the setups. The iSAP reports anticipated events that may be forming on the charts allowing traders more time to better prepare for possible entries and not miss them.
Traders can determine if they have a long or short bias for a particular pair (e.g. by analyzing the chart on higher time-frames), and then set the scanner to report events in the their directional bias to look for trade entries.
The scanner has many options that can be customized to the preferences of the trader. For example in a VBS/VSS can determine number of pull back bars required, if to take VBS with green reversal bar, bottoming tail, narrow range bar, relative sizes of bars/tails etc.




1.  confirmed bull Elephant Bar
2.  confirmed bear Elephant Bar
3.  confirmed bull 180
4.  confirmed bear 180
5.  confirmed Velez buy setup (VBS)
6.  confirmed Velez sell setup (VSS)
7.  confirmed Red-bar-ignore (RBI)
8.  confirmed Green-bar-ignored (GBI)
9.  confirmed topping tail (only ones that occurs at key locations)
10. confirmed bottoming tails (only ones that occur at key locations)
11. confirmed topping tail far away from the 20 SMA
12. confirmed bottoming tail far away from the 20 SMA
13. confirmed tweezers bottoms
14. confirmed tweezers tops
15. confirmed close above 20 SMA (after price action was below the 20SMA for a specified minimum number of bars)
16. confirmed close below 20 SMA (after price action was above the 20SMA for a specified minimum number of bars)
17. confirmed follow-through long
18. confirmed follow-through short Anticipated Events
19. anticipated bull elephant bar
20. anticipated bear elephant bar
21. anticipated bull 180
22. anticipated bear 180
23. anticipated RBI
24. anticipated GBI
25. anticipated Velez Buy Setup (VBS)
26. anticipated Velez Sell Setup (VSS)
27. anticipated bottoming tails at key locations
28. anticipated topping tails at key locations
29. anticipated topping tail far from 20 SMA
30. anticipated bottoming tail far from 20 SMA
31. anticipated close above 20 SMA (after price action was below the 20SMA for a minimum amount of time)
32. anticipated close below 20 SMA (after price action was above the 20SMA for a minimum amount of time)

Do you have other types of events or chart patterns that the iSAP does not currently report and that you wish it did? if so, let us know at sales@smartest-trading.com

 

Chart Examples

Example1:

In this example on the EurUSD hourly chart, note the Bull180  (marked bar #1), that the iSAP reported. The bull180 marked the reversal point from the prior down-trend to the start of a new up-trend.  This bull 180 reported by the iSAP could have been traded very successfully using the iFundTraders trading strategies when implemented correctly.  The iSAP then reported a close above the 20 (bar marked #2) with a follow-through long signal reported by the iSAP on the following bar for another potential entry.  After getting a small retracement, Velez Buy Setup (VBS) and a Bull Elephant Bar (BuE) reported by the iSAP could have been traded with great profit as well using the iFundTraders strategies.  

Trade Example

 

Example 2:

In this example from the EurUSD 1hr chart several Velez Buy Setups (VBS) were reported by the iSAP.  These VBS setups could have been successful traded using the iFundTraders strategies as initial trade entries and or as good locations to add to an already existing trade for very large profits. Red Bar Ignore (RBI) and Bull Elephant (BuE) bars seen in this example are used by iFundTraders under the correct set of circumstances as trade entries or locations for adding to an existing trade as well, and could have been traded very effectively in this example.  Bottoming tails (BT) at key locations were also reported in this example by the iSAP. 

example1

 

Example 3:

In this EurUSD 1HR chart a Bull Elephant bar (marked bar #1) that closed above the 20 marked the beginning of a new move, and was reported by the iSAP as a Bull elephant bar (BuE) and a "Close above the 20 SMA (A20). This iSAP report and the report on the following bar (bar #2) of "follow-through long", certainly if traded correctly using iFundTraders methodologies would have been a very profitable trade.  Another bull elephant bar shortly followed (bar #3), and could have been traded very effectively as well using the iFundtraders Bull Elephant bar trading strategy.  Subsequent VBS (Velez Buy Setups) reported by the iSAP were good trade entries or opportunities to add to an already existing position as well for even greater profits.

 

trade example

 

Example 4:

In this hourly EurUSD chart the iSAP reported a Velez Sell Setup (VSS) on bar marked #1, and then later a 'bear elephant bar forming'.  These could have been traded for great profit using correct implementation of the VSS and Bear Elephant bar trading strategies of iFundTraders. the GBI reported by the iSAP on this chart could have been used here using iFundTraders strategy for first short entry if the first entry was missed or as a location to add to an already existing short trade very effectively as well.  

chart example

 

Testimonials

Brad Thomas Senior iFundTraders Moderator: “I have been beta testing the iSAP scanner for around 2 months and find it a indispensible part of my trading now. Using the iSAP in conjunction with the ATMS takes trading to a new level for all types of traders, new or experienced traders. Set the scanner to scan for your favorite type of trade set ups in ANY time frame when the alert triggers you look at the set up assess your risk enter the trade into the ATMS and you have a complete trade set up for you including the set up you want and the risk management of the trade complete with stops and take profits all in place. Each and every evening when I have completed my daily analysis of my charts I can set the iSAP up to only look for trades in the direction I have chosen and the time frames I like to trade in. This is done in a matter of minutes and is very user friendly, I apply the iSAP to all charts I have a interest in trading the next trading day and do not have to sit in front of my screens all day waiting for a set up. The iSAP is so versatile that trades that are still in the setting up stages I will use it to watch both sides of price on my chosen time frames to see how it is developing . The iSAP is also capable of audible alerts as well as email alerts so you again can carry on with your day and have the iSAP working for you doing all the scanning".

Reggie Ringgold: Senior iFundTraders Moderator: “I have fallen in love with iSap it has increased my focus and observation 10 fold. I used to miss setups on a regular basis because I was preoccupied with other trades or looking at a chart that did not demand my attention as much as a potential setup does. With the ability to adjust the parameters in iSap to only look for entries that fit within my trading plan, I now know whenever a setup that I like to trade presents itself. Another function I love about iSap is the updates and alerts at the top of the hour and every 30 minutes keep me on top of my top down analysis for each chart. I would recommend iSap to anyone who wants to increase their observation and productivity in the markets”.

Stephen Thomas: “In the past couple of months I have been beta testing the iSAP Scanner and have also been using it together with the ATMS. I like how many different setups that the scanner can look for as well as the simplicity of use that it has. It can look for either Long setups, Short setups, or both Long and Short setups on multiple time frames. After my daily analysis I set the iSAP to look for setups in my trading direction and the time frames that I trade in. Just set the iSAP scanner to look for some of your favorite trade setups and when you hear the alert (on your computer) or get an email (to your phone) just look at the chart and place your trade with the ATMS which will completely manage your trade. These tools have helped me so much in my trading by notifying me of trade setups (iSAP) so I no longer miss them when not at my computer, and manage my trades (ATMS) when I cannot be at my computer. These tools will forever be in my trading arsenal”.

Nancy K. (MA, USA): “I've only had a week of experience with it, but the iSAP has been a great addition to my tool chest. It has become my eyes for those parts of the market I am not currently watching myself, and gives me an accurate read of setups by time frame. It is then my job to evaluate those setups with regard to overall trend and daily bias before I take the trade. But it is that one step -- knowing that a possible trade is setting up or has just set up which is so valuable. I fully expect it will propel my trading forward!”

Mahdi Chambers: “I am starting to use the iSAP.  It is an excellent tool and should reduce the number of missed trades.  I can now setup the iSAP and not have to constantly flip between charts looking for setups.”

Mike M.: “I rely quite heavily on the iSAP program (it's really good)”

 

Learn how some professional traders find using the iSAP invaluable

The iSAP is a very powerful tool, and can potentially greatly help traders in their trading.  It is very important to understand what the iSAP does well, and its limitations, in order to use it effetely.

1: Avoiding trader-fatigue, and avoiding missing trades

The iSAP, being a machine running on sophisticated algorithms, is consistent, and does its job for hours without getting tired.  It can be used very effetely to scan the charts for hours, and let you the trader know when specific important events and  chart patterns occur.  This way, you can do other things while trading, and avoid staring at charts for hours waiting for certain events to occur.  This may greatly help in avoiding "traders fatigue" when after staring at charts for hours, everything starts looking blurry and traders may lose focus and direction.

Many of the master traders at iFT prefer trading the longer time frames of the 1 hour, 4 hour and even the daily charts, as they believe trade setups on these time frames often have better winning odds.  Waiting for setups on these time frames can take very long time, hours or even days, and thus are easy to miss for people who are busy doing other things.  The iSAP however can be used very effectively to scan the charts on the longer time frames and alert traders when potential setups occur.  The iSAP thus helps you avoid missing events that you may be waiting for a long time to setup.

2: Looking for trade Entry

The master traders at iFundTraders often report that they believe that the trading bias is best determined from the higher time frame charts, such as the daily chart.   Setups and events reported by the iSAP on the daily chart can often be very helpful in analyzing the charts and determining the overall bias to trade.

Then signals reported by the iSAP on the smaller time frames can potentially be good trade setups and entries.  However each trader should be carefully to consider multiple factors including analysis of the pair in multiple time-frames, news events, individual risk tolerance, and many other factors to determine if that trade is suitable for him or her.

Some professional traders find it helpful once they determine their trading bias and see that there maybe a good setup on the higher timeframes, to setup the iSAP to report events on the lower timeframes with their trading directional bias in order to look for get trade entries.  For example, a trader may analyze the weekly and daily EurUSD chart, and determine that their trading bias is long. They then may setup the iSAP to report only events with long bias on the 30-minutes, 1 and 4 hour charts, in order to look for trade entries.

3: Adding to a position:

When in a winning trade some traders add to a position in certain cases when getting appropriate setup reported by the iSAP in the directional bias of their trade.  This trading style does not fit everyone, and each individual trader should consider their trading strategies when placing trades.

4: What to do when getting multiple signals in opposite directional bias for the same
currency pair (or CFD) on different timeframes?

This can often be confusing, but very important to note.  When getting conflicting signals with long and short bias on different time-frames, that may potentially be a good time to "sit-on-hand" and avoid taking the trade.   Professional master traders at iFT often report that taking trades that show consistency in multiple time-frames with the same directional bias may have much better winning odds.    The iSAP may be very helpful for traders to pay attention to what is happening at other time frames even if they are not actively looking at that chart. 

Have you tried the iSAP? we would love to hear what you have to say about it. Please email testimonials@smartest-trading.com

To Learn More about the iSAP

You can learn more about the iSAP by:

1. Reading the iSAP Manual

2. Look at the iSAP tutorials (including demonstration videos)

3. Participate in one of the iSAP free webinars.  iFundTraders conducts free iSAP webinars.  During the iSAP webinar, you can learn about the iSAP features, get assistance with installation, and ask the moderators questions.

4. Trying out the iSAP by getting a trial subscription, or buying a full featured paid subscription.

The recommended and tested platform for the iSAP is the WealthTraderFX Pro, but the iSAP can be used on other MT4 platforms as well. 

Buy iSAP Now   Try iSAP Now

 

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