MT4 Alert Indicator? If you ask those that have made money trading forex, most of them are likely to tell you that sitting in front of a computer to monitor prices and market trends is a pain in the neck. Tracking the right prices to make entry has never been easy. The reason is that market forces are dynamic, and it is never enough to make a trade decision relying on human intelligence.
A good strategy is to wait for confirmation before taking a trade decision; this is the place of an Alert in forex trading. If you are very familiar with the MT4 trading platform, you can relate to the fact that it is equipped with an alert system. However, the default MT4 alert system has some problems. You are required to keep an eye on the chart continually. What if you were in transit or out of your work station, how would you track the system?
Exclusive alerts come handy in this regard. One of the best exclusive alerts for MT4 you can trust is the MT4 alert indicator. This indicator is helpful, especially when you are out of your work station. It automatically sends you an alert via your mobile phone and email informing you of a potential price point for you to enter a trade.
For the benefit of those that do not know how to install the default alert on the MT4 trading platform, let’s quickly do a rundown of how to install an alert on MT4.
How to Install Alerts on MT4
The following is a step by step guide on how to install an alert on MT4:
- Open a chart
- Take a position, preferably where you want to add the alert.
- Right-click on your mouse
- A pop-up menu will display
- Select “trading alert,” and the MT4 default alert would be added to the point you selected.
If you add the alert successfully, the image below is what you should see on your screen.
If you want to disable, remove, or change the alert, you only need to right-click on the alert and select what you want on the menu.
If you are not comfortable with the process of adding an alert as we explained above, another way to add an alert on your MT4 chart is to use the alert tab positioned below the chart. Right-click on the alert tab and select create. The image below explains it better
The only drawback of this alert system is that it is not automatic. You have to keep monitoring the chart to get the notification you’re looking for. Nowadays, traders no longer use this alert system.
So what works for traders?
MT4 alert indicator! It is perfect for both newbie and expert traders. You will love this indicator, as it allows you to configure different alert levels. It can send notification via phone or email to notify you whenever the price goes below a certain level, above a certain level of resistance, or when the price hits a certain level of importance.
Features of MT4 Alert Indicator
The MT4 alert indicator is a simple tool to use. Imagine configuring different alerts and receiving notification when prices hit specific values, just with a few clicks of the mouse! The following are some of the features of this fantastic indicator:
#1. Ease of Use
The MT4 alert indicator comes with a user-friendly interface. It is effortless to use. Once you point your mouse towards any section, it will show you all the functions in that section.
#2. Multiple Alert Configurations
One amazing thing about the MT4 alert indicator is that you can configure multiple alerts for different price levels. In the chart above, those colored lines are different alerts for different price levels. The alerts are clear for you to see.
The MT4 alert indicator comes with three notifications – mobile app, email, and pop up notification. It is essential to configure these three notifications so as not to miss out on any trade position that can fetch you money.
#4. Levels Disabled or enabled
The MT4 alert indicator allows you to enable or disable certain price levels until when you need them. On the chart, you will see the levels colored gray. Gray color means that the levels are disabled and not active.
#5. Custom Comment
With the MT4 alert indicator, you can easily make different comments on the chart for each level. This will help you to remember what each level was meant for.
Price Alert Settings
The following are the price settings for this indicator:
- Sound when the price goes below: The MT4 alert indicator will notify you when the price goes below the pre-set value
- Sound when the price goes above: The indicator will inform you whenever the price goes above the pre-set value.
- Sound when the price is exactly: The indicator will alert you whenever the price hits the pre-set value.
- Send an email: This price setting will be activated whenever any of the above situations occur. You will receive an email notification to that effect.
Conclusion MT4 Alert Indicator
Using the MT4 alert indicator is not rocket science. It makes your job easier. There is no way you would sit in front of your computer 24/7 monitoring price movements; as such, this indicator has got your back. With the indicator, you can do other things without the fear of missing out on a trade opportunity.
Though trading forex looks complicated for a newbie, the right direction and use of tools can make it simpler. Apart from the above indicator, you can find plenty of material that could be equally handy for you as a trader to make money. So check it out through this link.