Is there any tool to check weather my site is penalized by panda or not because search traffic decreases drastically but now after few days back everything is fine now?
I had a similar issue, sent a reconsideration request to check that I wasn't penalized. But honeslty seems patience is the best to see whats going on and trends when making changes.
There is no tool from where you can check your google penalties. Sometimes google webmaster tool sends you email about any suspicious or unnatural links pointing towards your site