Price Alert
This professional-grade solution for MetaTrader 4 helps traders achieve greater efficiency in their daily workflow. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Price Alert
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
Description & Settings
Price Alert plays sound alerts when the price reaches certain levels, specified by trader. It supports three types of signals: the first is used when the price rises above the specified level (shown as a green line on the chart); the second is used when the price falls below a certain level (red line on the chart); the third is used when the price reaches a strictly specified level (yellow line).
Input Parameters:
SoundWhenPriceGoesAbove
(default = 0.0) — if the price rises above this value, a signal is generated.
SoundWhenPriceGoesBelow
(default = 0.0) — if the price falls below this value, a signal is generated.
SoundWhenPriceIsExactly
(default = 0.0) — if the price reaches this exact value, a signal is generated.
Recommendations:
This indicator can be used as a direct signal for action, since it does not generate signals to buy or sell. You can just use it when you need sound notification on reaching certain price levels. Then you can use the moment to work with the market. You can leave some input parameters at zero value to disable the corresponding signals.
