Review of RAMP Scanner by Nebadawn

The RAMP Scanner by Nebadawn 

http://www.nebadawn.com/

Price: $149 

RAMP scanner is hands down one of the best value trading tools I have found. For $149 for a lifetime license including updates it is extremely good value. 

Functionality: 

The main reason I purchased the ramp scanner is for the Fibonacci retracement scanner, I searched high and low for a similar scanner and have not found much else worthwhile, if you know of a good option please let us know in either the comments or contact us form. I found the fib scanner to be very good for long term levels and swing trading. The low-end limit for the pivot high/low search is 200 bars going all the way back to 2500 bars. I would really like an option to scan for the most recent pivot high/low, there is an option to scan last week's max high/low but I don’t find it works, as very few if any scans provide results.  

There is a decent Elliot Wave scanner, as with most that I have tested the count is barely ever correct but has provided a few good finds in recent months. As I scroll through the results I see tradable options as despite an incorrect count it still counts the waves well, so you just look at structure and it if looks appealing I open up mt charting platform and investigate.  

I also use the divergence scanners for MACD/RSI, I like the way you can set various levels, last high low vs current levels.  

There is an excellent trendline scanner and in talking with the developer this is one of the latest additions as RAMP customer paid for this feature to be upgraded. It is clearly a stand out. Each week I find consistent trades with this scan across both equities and forex.  

Other Scans 

Full list available here: http://www.nebadawn.com/index.html#Patterns 

Data Options 

Free public but only EOD, if you want real-time scanning capability, there are options for Metastock and a couple of others, again I would love to see more options here such as CQG for Futures, Tradestation, IBKR and ThinkorSwim it seems to be a very outdated data capability that present one of the largest drawbacks of this product. I event tried paying for Active Tick but gave up as I coult get the API credentials to work, I could be wrong, but this component might be outdated and no longer work. However, if you’re a Forex trader this is not an issue, you can access free Forex real-time data via FXCM account either live or demo, and it takes about 2 minutes to signup for a free demo account.  

Future: 

In discussion with the development Adam, I learnt that the scanner operates on an interesting model. The low price point is to build usage, whilst each scan is essentially built specially for a user. If you would like additional functionality, or an entirely new scan, Adam will provide a quote for the work. I asked about building a scanner for Andrew’s Pitchfork, that is one of my favorite trading setups, and I was quoted around $500 which again is great value. However, whilst I like the idea behind users contributing to the development and success of this product, I think this can be modernized and taken a lot further. I would love to see some group type options listed on the site. Instead of charging one person $500-$1000 for a custom scan, add the options to the website, in a Kickstarter style methodology, let folks chip for various upgrades until the required total cost is met. This would make it much fairer on the community and also ensure a much faster development roadmap for the product, which is certainly needed.  

Summary 

RAMP is certainly not the prettiest in the current field of slick web based slick UI’s however in my view it has a powerful engine under the weathered exterior that provides unique value. Due to the data shortcomings and limited ability to customize scans – it is much more a swing trading scanner. I doubt it can be a sole scanner unless you are lucky enough to only trade one of the well-built out RAMP Scans but certainly has enough value with the price point to be a valuable addition to anyone’s trading arsenal.  

Pro’s  

• It great value.  

• Powerful set of core platform scans that if suited to your trading style provide significant value. 
• Free data options with daily equities/forex with free intraday options for forex only.  

Con’s 

• Flexibility, platform is built around core scan functionality, there is no ability to customize or create new scans. 
• Limited real-time data options for futures and equities are limited.   

• In the middle on an overhaul so still two different products RAMP 8 and RAMP 9 and you have so switch between both depending on which scan you require.  
• Limited to no updates unless paid for via an existing customer.  

https://www.tradingview.com/x/AQbdU5Io/

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