Introduction to the Price Alert Indicator
Table of Contents
One of the struggles of trading is being available to trade the market at the right time when price is about to move in a certain direction. Some traders try to be in front of their trading platforms at all times but this is very difficult to do. The Price Alert Indicator allows traders to be in the market at the right time by alerting them whenever price has reached the levels where they are expecting price to move in a certain direction.
What is the Price Alert Indicator?
The Price Alert Indicator is an indicator which sounds an alarm or alert whenever price reaches a price level specified by the trader.
This indicator can trigger based on three types of parameters.
The “Sound When Price Goes Above” triggers an alert if price has breached above the specified price level and is identified by a green line.
The “Sound When Price Goes Below” triggers an alert if price drops below the specified price level. This is displayed as a red line.
Lastly, the “Sound When Price is Exactly” triggers an alarm whenever price is exactly at the specified price level and is displayed as a yellow line.
How the Price Alert Indicator Works?
The Price Alert Indicator has a simple “if-then” type of algorithm. For example, on the “Sound When Price Goes Above” alert, the indicator uses a program script that instructs the indicator to sound an alarm as soon as price goes above the specified level. The other types of alert also have instructions which are somewhat similar. The only difference would be that one would alert as price drops below the level, and the other would sound an alert if price is exactly at the identified level.
It also has an e-mail alert option which provides an option wherein the indicator would send an email alert whenever a price level is triggered.
As soon as the Price Alert levels are triggered, the alert levels are then removed.
How to use the Price Alert Indicator for MT4
The Price Alert Indicator has four important inputs within its indicator settings which traders should use to set the price alert levels.
The “Sound When Price Goes Above”, “Sound When Price Goes Below”, and “Sound When Price Is Exactly” input fields are the fields where the users should input the price level where they would want the alert to be triggered.
The “Send Email” option allows users to toggle the sending of an e-mail as a price alert level is reached on or off. Setting it an “true” toggles the sending of the e-mail on. However, users should still enable the sending of an e-mail on the “Email” tab of the MT4 options.
Users can set these price alert levels at interest points on the price chart. For example, traders who are expecting a breakout or breakdown can use this indicator to alert them whenever price has breached above or dropped below the resistance and support levels they have identified. They can also set the indicator to trigger if price has reached these levels if they are expecting price to reverse. Then they could observe price action and assess if price would breakout, breakdown, or reverse.
This indicator does not provide trade signals or technical analysis indications. However, it allows users the opportunity to be notified whenever price has reached the price levels where they believe there is an opportunity for a trade. They could then observe the market as price reaches these levels before they make a trade.
MT4 Indicators – Download Instructions
Price Alert Indicator for MT4 is a Metatrader 4 (MT4) indicator and the essence of this technical indicator is to transform the accumulated history data.
Price Alert Indicator for MT4 provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly. Click here for MT4 Strategies
Recommended Forex Metatrader 4 Trading Platform
- Free $50 To Start Trading Instantly
- Deposit Bonus up to $5,000
- Unlimited Loyalty Program
- Awards Winning Trading Broker
How to install Price Alert Indicator for MT4.mq4?
- Download Price Alert Indicator for MT4.mq4
- Copy Price Alert Indicator for MT4.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 4 Client
- Select Chart and Timeframe where you want to test your MT4 indicators
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 4 Client
- Right click on Price Alert Indicator for MT4.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Price Alert Indicator for MT4.mq4 is available on your Chart
How to remove Price Alert Indicator for MT4.mq4 from your Metatrader Chart?
- Select the Chart where is the Indicator running in your Metatrader 4 Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Price Alert Indicator for MT4 (Free Download)
Click here below to download: