Gom Market Scanner (MT5) — review, price and free alternatives

The product combines a higher timeframe trend filter with lower timeframe confirmation and a weighted alignment score to generate concise BUY, SELL, or WAIT recommendations. In backtests and live samples published by the author, the tool has shown consistent signal alignment across major forex pairs and indices, emphasizing quality over quantity. Alexandre Feumba Njiki designed the system for MT5 with a professional dashboard that updates in real time and supports full Market Watch scanning.

The algorithm works by first evaluating a configurable set of higher timeframes to determine trend direction, then scanning user-selected lower timeframes for momentum or volatility confirmation signals. Signals are scored and weighted; only those exceeding a user-defined threshold are presented as primary opportunities. Gom Market Scanner performs best in trending and range-to-trend transition conditions where higher timeframe bias and lower timeframe confirmation align. The risk management approach is external to the scanner: it provides entry cues and probability metrics while leaving stop loss and position sizing to the trader or an attached EA.

Expected performance characteristics include moderate trade frequency with higher accuracy per signal, depending on alignment settings. In practice, users can trade fewer but higher-probability setups; results depend on parameter tuning, broker spreads, and account size. The tool is transparent about inputs and outcomes, and Alexandre Feumba Njiki provides setup recommendations and sample statistics to help traders reproduce published results on MT5.

Gom Market Scanner should be considered a moderate risk tool when used with prudent money management. The scanner produces signals with weighted probabilities, but risk level depends on stop loss placement and leverage used by the trader. A recommended stop loss strategy is to use volatility-based stops such as ATR multiples and align position sizing to a fixed percentage risk per trade, typically 0.5% to 2% of account equity. The system is vulnerable in highly choppy, low-volatility environments where alignment is harder to achieve and false signals increase. For reliable operation, a minimum recommended account size is $500 for conservative testing and $2,000 for live use with reasonable position sizing.

Install Gom Market Scanner by placing the indicator file into the MT5 Experts or Indicators folder and restart the platform to load the dashboard. Attach the scanner to a chart or enable it as an expert if required; ensure the Market Watch contains all symbols you want scanned. Configure key parameters including higher timeframe list, lower timeframe confirmations, weighting thresholds, and alert preferences. Recommended broker types are low-spread ECN or STP brokers with reliable execution. Optimal chart timeframes for scanning are 15-minute, 1-hour, and 4-hour charts. Begin with demo testing for several weeks, review signal logs, and adjust thresholds before deploying on a funded account.