Opening trading positions at the market price is risky. As a rule, a trading strategy provides for certain conditions and a price to reach a certain level. It takes time to generate the signal. But not every trader has the opportunity to be constantly in the trading terminal and monitor the price movement. In this situation Alert indicator can help him. Different variants of it can be found on the network. And you can simply use the indicator, which is available in the MT4 trading terminal. We’ll talk about him today.
How to create an alert in MT4
In order to quickly set an alert on the chart of the traded currency pair, you should right-click on it. In the menu that opens, select “Trade” and then “Alert”.
In the chart the indicator will look like this:
If you click on it, you will be able to edit the alert settings or delete it if you no longer need its help. Now let’s get to the settings.
Alert editing
For proper operation of the indicator Alert you need to configure it according to the task it should perform for the trader.This is done in the “Alert Editor” window:
To start, you have to specify when it should work.Variants are like this:if the price rises above or falls below a specific Bid price levelif the price rises above or falls below a specific Ask price level;signal at a given time.The price that the trader is interested in should be specified in the “Value” field, and in the “Symbol” field – the currency pair.
If the alert should work in time, but it is specified in an hour/minute format. But before you do that, you have to select “Time”. in the “Condition” field
It is also possible to specify the time after which the alert will no longer be relevant. It’s done in the field of torture. The indicator will be removed from the chart when the hour comes.
In the editor, you can also select the appropriate signal. The most popular among traders is sonic. But if you wish, you can “ask” to report on the achievement of a given price level to the post office or mobile phone.
And that’s not all. In order not to irritate the trader with the sound signal, he has the possibility to choose the sound. For this purpose there is a function “Source”.
After all the settings have been made, check the “Allow” box. Otherwise, the indicator Alert will not execute your task.
This simple tool can be useful in trading. Therefore, its existence in the trading terminal will not prevent you from knowing and, if necessary, use.Fyodorov’s Inga23.04.2018