Price Alert Indicator for MT4/MT5
Info
The Price Alert Indicator for MT4/MT5 is a Indicator for MetaTrader 4 that price alert indicator this indicator plays sound alerts when the price reaches specific levels defined by the trader. It supports three types of alerts: 1.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Price Alert Indicator for MT4/MT5
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.
What this tool does
Price Alert Indicator This indicator plays sound alerts when the price reaches specific levels defined by the trader.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: UT Bot Alerts for MT4: Signal Statistics and Session Filtering - another powerful indicator for MetaTrader 4 traders.
Price Alert Indicator This indicator plays sound alerts when the price reaches specific levels defined by the trader. It supports three types of alerts: 1. Price rises above a specified level (indicated by a green line on the chart). 2. Price falls below a specified level (indicated by a red line on the chart). 3. Price reaches an exact specified level (indicated by a yellow line on the chart). Input Parameters: soundwhenpricegoesabove (default = 0.0) — Triggers an alert when the price rises above this value. soundwhenpricegoesbelow (default = 0.0) — Triggers an alert when the price falls below this value. soundwhenpriceisexactly (default = 0.0) — Triggers an alert when the price reaches this exact value. Recommendations: This indicator can be used as a direct signal for action, as it does not generate buy or sell signals. It is useful for receiving sound notifications upon reaching specific price levels, allowing traders to act on market opportunities. You can disable specific alerts by setting their corresponding input parameters to zero. © 2026 MetaQuotes Ltd. All rights reserved.Also recommended: Smart Session Breakout MT4: Asian Range Breakout with ATR Filter and Alerts - similar indicator with strong performance on MetaTrader 4.
You may also like: Institutional Ehlers Fisher Transform: Advanced Price Normalization for MT4 - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_chart_window
extern double soundwhenpricegoesabove = 0;
extern double soundwhenpricegoesbelow = 0;
extern double soundwhenpriceisexactly = 0;
extern bool sendemail=false; //if true e-mail is sent to the e-mail address set in your mt4. e-mail smtp server settings should also be configured in your mt4
int init()
{
if(soundwhenpriceisexactly>0).......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.