Here is the good news from Google, finally google confirmed Penguin 4.0, that is real time now! and also it is a part of core algorithm.
Google’s algorithm Penguin was launched in 2012, it has been fighting on website spam links to non index or to remove bad links in google search results.
Now penguin is Real time Update
yes, previously penguin was updated periodically, but now it will update regularly, it means if your site was affected by penguin you need to remove spam links immediately, after removing your spam links from the site, in one or two crawls by google your spam will be removed and your site will be revoked as usual and you will see the better results instantly, that is real time.
Before penguin real time update, you need to do the same the above process, but you need wait up to release next penguin update from google, but now no need to wait, you need to remove bad links instantly and build good links always and monitor every week your site rankings performance then you will see good results.
“Google penguin 4.0 real time” is a really hopefull update for who are building natural & quality links, that they will get smart results instantly. All the best. To learn more about algorithms find all updates here http://www.digitalmediarole.com/google-algorithm-updates-since-2000-2014/.