1. Intermediate Guide To MetaTrader 4 - Introduction
  2. Intermediate Guide To MetaTrader 4 - Charts And Settings
  3. Intermediate Guide To MetaTrader 4 - Graphical Objects And Technical Indicators
  4. Intermediate Guide To MetaTrader 4 - Alerts
  5. Intermediate Guide To MetaTrader 4 - Order Types
  6. Intermediate Guide To MetaTrader 4 - Placing Orders

Alerts can be created to provide signals about events in the market.

Creating Alerts
To create an alert, begin by opening the Terminal pane by pressing CTRL + T on the keyboard, or in the Main Menu > View > Terminal. Once the Terminal pane is open, click in the Terminal pane and press the Insert key on the keyboard, or right-click and select Create, as shown in Figure 16.


Figure 16 - Right-click in the Terminal pane and select "Create" to make a new alert.


The Alert Editor window opens (see Figure 17). To add a new alert, define all the conditions and select the necessary action:
  • Enable - check to enable the alert; uncheck to disable.

  • Action - assign an action that will occur if alert criteria are met: play a sound, run a file or send an email.

  • Symbol - select the symbol for which the alert will be active.

  • Condition - the condition under which the alert will trigger, including:
o Bid> - the Bid price is higher than the specified value. If the current bid price exceeds the given value, the alert will trigger.

o Bid< - the Bid price is lower than the specified value. If the current Bid price goes under the given value, the alert will trigger.

o Ask> - the Ask price is higher than the specified value. If the current Ask price exceeds the given value, the alert will trigger.

o Ask< - the Ask price is lower than the specified value. If the current Ask price goes under the given value, the alert will trigger.

o Time= - time is equal to the given value. As soon as this time comes, the alert will trigger.

  • Value - assign a price value of the condition. If price is equal to this value, the alert will trigger.

  • Source - to specify the action path; for example, if an alert is sent by email, the trader needs to input the message that will be sent.

  • Timeout - the time period between alert triggering.

  • Maximum Iterations - the maximum number of times the alert repeats triggering.
SEE: The Basics Of The Bid-Ask Spread


Figure 17 - The Alert Editor window.


Once the fields have been defined, click the "Test" button to check the selected alert. Click "OK" to close the window.

Modifying an Alert
Alerts can be modified by:

  • Double-clicking the alert name in the Terminal; or

  • Highlighting the alert name in the Terminal and pressing the Enter key on the computer keyboard; or

  • Highlighting the alert name in the Terminal, right-clicking and selecting "Modify" (see Figure 18).
Figure 18 - Highlight the alert name, right-click and select "Modify" to edit an alert.


Any of these actions will open the Alert Editor window. Make any desired changes to the alert settings and click "Test" to check the alert and then click "OK" to close the window.

Enable On/Off
An alert can be enabled or disabled by:

  • Highlighting the alert name, right-clicking and selecting "Enable On / Off"; or
  • Pressing the Space key on the computer keyboard.
A disabled alert is not deleted - the alert just won't be triggered. An alert that has been disabled will have a small red circle over the alert, as shown in Figure 19.


Figure 19 - A disabled alert will have a small red circle appear over the alert symbol.


Deleting an Alert
An alert can be deleted by:
  • Highlighting the alert name, right-clicking and selecting "Delete"; or
  • Pressing the Delete key on the computer keyboard.
The alert disappears from the Terminal Window without any prompt or further action.

Intermediate Guide To MetaTrader 4 - Order Types

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