An MX 150 should offer roughly similar performance to a GT 1030 desktop graphics card, which is pretty low end as far as dedicated graphics cards are concerned, but should still be quite a bit better than Intel's integrated graphics.
The CPU itself shouldn't be much of a limitation though. However, you might want to make sure your laptop is plugged in while gaming to get the best performance out of it, since otherwise it may apply power-saving features that could impact performance when running on battery power.
As for what games will run, technically most recent games should be able run at playable frame rates if you are willing to drop the resolution to around 720p, and turn settings down to around medium or low in some cases. Just don't expect to get a solid 60 fps much of the time. To get a rough idea of how performance might compare, have a look at the frame rates on NotebookCheck's page for this graphics chip (scroll down until you start seeing the game logos)...
https://www.notebookcheck.net/NVIDI...pecs-of-the-GT-1030-for-Laptops.223530.0.html
In most of the more-demanding games, you would likely want to drop the resolution down to 1280x720 or 1366x768, and at that resolution the MX 150 should be reasonably capable. Do you know what resolution screen your Ideapad has? I think some of them come with a 1366x768 screen, so if that were the case, you would be running in that resolution natively anyway.