Did some experiments with ice and decided to create this shader in UE4.
It uses two color maps - bottom color map is displaced with parallax oclusion (all that flakes e.t.c. that give the depth effect) and then it is blended with top color map with opacity (cracks, small bubbles e.t.c.).
Substance made 100% in Substance Designer. Rendered in Unreal Engine 4.
Video demonstrates ice shader for UE4 in standard First person template. It uses standard lighting and has no post-processing.