Forex price alerts are essential for traders who want to stay ahead of the game. They allow traders to be notified when a currency pair hits a particular price point, allowing them to make informed decisions on whether to buy or sell. One of the most popular trading platforms, MT4, offers various options for getting forex price alerts. In this article, we will explore how to get forex price alerts on MT4.
Step 1: Open MT4 and log in
The first step in getting forex price alerts on MT4 is to open the platform and log in to your account. If you don’t have an account, you will need to create one with a forex broker that offers the MT4 platform.
Step 2: Select a currency pair
Once you have logged in to your account, you will need to select a currency pair to set up a price alert. To do so, go to the ‘Market Watch’ window on the left-hand side of the screen and select the currency pair you want to monitor.
Step 3: Right-click on the currency pair
After selecting the currency pair, right-click on it to open a drop-down menu. In the menu, select ‘Create Alert’.
Step 4: Set the price level
In the ‘Create Alert’ window, you will need to set the price level at which you want to receive an alert. You can do this by entering the price level in the ‘Price’ field.
Step 5: Choose the type of alert
Next, you will need to select the type of alert you want to receive. MT4 offers three types of alerts: sound, email, and push notifications. Sound alerts are an audible alert that plays a sound when the price level is reached. Email alerts are sent to your email address, and push notifications are sent to your mobile device.
Step 6: Set the alert conditions
You can also set additional conditions for your alert, such as the time frame for the alert or the number of times the alert should be triggered. You can set these conditions by selecting the ‘Conditions’ tab in the ‘Create Alert’ window.
Step 7: Save the alert
Once you have set all the necessary parameters for your alert, click on the ‘Create’ button to save it. You can view all your alerts in the ‘Alerts’ tab of the ‘Terminal’ window.
Conclusion:
Getting forex price alerts on MT4 is a straightforward process that can be done in a few simple steps. By setting up price alerts, traders can stay informed and make informed trading decisions. It is essential to note that while price alerts can be helpful, they should not be the only factor considered when making trading decisions. Traders should also use technical analysis and fundamental analysis to make well-informed trading decisions.
