Here we explain why alerts and notifications are so important in Forex trading. We also list some of the examples where the alerts are most used. Besides we mention the type of alerts offered by MT4. Those who wish to add any kind of alert to indicators, expert advisors or any other MT4 program, will find a form at the end of the article to make the request.
|How useful are the alerts?|
|Examples where alerts are often used|
|MT4 alerts and notifications|
|MT4 alerts and notifications – request form|
Table of contents
How useful are the alerts?
The alerts notify of any fact of interest that the trader wishes to monitor. These notifications inform the trader in real time of some event in the market and allow him/her to act accordingly. This prevents the trader from being constantly monitoring the market. Moreover, alerts prevent the trader from losing those events that can make the difference between the success and failure of their trading strategy. Aditionally, by adding alerts and notifications to an indicator, it’s easy to monitor multiple symbols and timeframes simultaneously, without even being in front of the computer.
Such is the importance of alerts, that virtually all traders, from those who do fundamental analysis to those who do technical analysis, from experts to novices, all in one way or another use some kind of alert. In fact, this is the type of service most requested from us. This has been the case during all the years that we have been dedicated to programming for the currency market, and we do not perceive that this trend will change in the future. It is normal because regardless of the style or strategy of each trader, alerts are essential to succeed in trading.
Examples where alerts are often used
- Economic news.
- Price movement.
- Indicators for market analysis.
- Automated trading.
MT4 alerts and notifications
MT4 allows the use of 4 types of alarms:
- Alerts: this is the most used warning method. It triggers a pop-up window showing a text message. If not disabled, the alert also plays a sound by default. Both the text message and the sound are customizable. This type of alarm requires that the users be near the computer, at a distance that allows them to see the window displayed, or at least listen to the sound emitted.
- Email: this method sends a message to the email address of the users. Thus, they can be notified from any place where they have access to their email.
- Push notifications: like ‘Email’, this alert will send a message to the users’ smartphones or to any other of their mobile devices, so they can be notified from any place where they have access to the terminal.
- Sounds: an audible alert that will only play a custom sound. No text message is displayed, and the users must be close enough to the computer to hear the sound.