Price alerts can help you plan your trading day and keep track of multiple price points and markets without being glued to the screen. Setting alerts will mean you are always on top of the market when events occur or price action moves to the levels you are watching.
The good news is that it is easy to set price alerts in MT4 as well as push notifications to your phone or email.
Types Of Alert Events In MT4
There are essentially three types of alert events in MT4: an alert, a notification and an email and we will explain how to use all three in this article.
What is the difference between an MT4 alert and an MT4 notification?
An alert must be set by you in the terminal (we will show you this soon) and only has two types: a price alert or a time alert. This will trigger when the condition is met and in its most basic form will trigger a sound and a popup in MT4.
A notification is an event that MT4 pushes to your mobile device. In order to receive these you will need to download the mobile app for Android or Iphone (which is explained in this article). A notification can occur when:
- An alert is triggered
- By Terminal Events: Trade notifications (buy and sell), stop loss and target setting and changes
- MQL5 Community Messages: depending on your community settings
- Mail: normally messages from your broker
- Custom Indicators and EAs: where these have the option they can trigger a notification if you have this setup
As such if you set up a price alert you can have the option for it to simply be a sound but you can also set it to be a notification. In addition you can also send an alert to an email.
How To Create MT4 Alerts
Creating an alert is very simple and can be done in two ways, via the chart menu or in the Alerts Tab of the Terminal Window (normally at the bottom of your screen).
- On the chart: Right click on the chart at the price level you are interested in, select trading and then click Alert. This will create a simple sound alert and you can see a marker at the level on the chart.
- Via the alerts tab: In the alerts tab right click anywhere within the alerts section and select Create. This will bring up the Alert Editor to set a specific alert which we will fully explain next.
MT4 Alert Editor Settings and Options
The alerts editor has several options which we will explain in further detail below. First let’s have a look at the window:
1. Action: There are four options in this dropdown for actions can be performed after an alert has been triggered:
- Sound – this will run the sound that is selected in section 3 (Source) when the event is triggered.
- File – This will open a file explorer where you can select a file to run on event trigger (normally a sound file).
- Email – send and email, the process for setting this up is explained later in this article.
- Notification. Sending notifications to a mobile app (push notifications). This is also fully explained in later in this article
2. Symbol: This is the market for which you want a notification. The options in here will match the symbols you have in your Market Watch window. To add more symbols it will need to be done there.
3. Source: This is the sound file that will run on the event trigger. Clicking the three dot icon will allow you to select another file).
4. Expiration: not selected by default but when used will remove the alert after that time and date.
5. Condition: This is either for price or time. For price, it is generally just better using Bid price. Use Bid > for an alert at a price above the current market price and Bid < for an alert at a price below the current market price. The actual value for the price or time will be set in the next box (Value).
6. Value: This is the actual price or time which is evaluated against the Condition field.
7. Timeout: The number of seconds between each alert.
8. Maximum Iterations: The number of times the alert will trigger. So for example if you set iterations at 5 and the timeout at 10 seconds, you will receive an initial alert and then 4 more alerts every 10 seconds. After the last alert it will be cancelled.
How Enable MT4 Push Notifications
In order to receive notifications you will first need to enable this option in MT4. To do this you need to open the Options menu by going to the Tools Menu > Options or by using the Ctrl+O shortcut key.
Once in options, click the Notifications Tab and there you will see the option to enable push notifications which you should check. There is also an option to notify of trade transactions which you can select if you wish.
In order to fill in the next section MetaQuotes ID you will need to download and activate the mobile app of your choice either for Android or Iphone which we will explain next.
How To Setup MT4 Mobile Apps and Notifications
Download The App
If you don’t have the app yet then the first thing to do is to download the latest build of the Metatrader Mobile Platform for either Android or iPhone / iPad (links below).
Connect To Your Broker
Next you will need to connect it to your broker account. This is done by using the same settings you used to log into MT4 desktop. This will include:
- Account number
- Your Brokers Server
How To Find Your MetaQuotes ID
This is the final important step, to get your unique MetaQuotes ID from your app so that you can enter it in the Notifications Options menu and get everything working.
For Iphone you will find this in the messages section. Open messages and look at the bottom of the screen where you will see your ID:
Go to the settings menu and then scroll down and you will see your ID under the Messages Header.
Complete The Setup and Test
The final step is to go back into MT4, open the options menu to the notifications tab and enter your ID.
Once you have done this, click the Test button and you should get a notification to your phone.
How To Setup MT4 Email Notifications
To enable email notifications, you need to configure MetaTrader with the relevant email server. Depending on the email provider you use (Yahoo, Gmail, and so on), you might need to search for the correct server.
Usually, a search for <your provider> SMTP server should yield a good result.
Also, in the configuration, you must set which email address the notifications are sent from and the recipient address. They can be the same.
Make sure to Enable the feature, provide the parameters, and then check that the test is successful.
Most people will be using Gmail so below is a walkthrough for that:
How to setup MT4 Trade Alerts and Notifications Via Gmail:
Gmail uses the following settings:
- SMTP: smtp.gmail.com
- Username: your Gmail email address
- Password: your Gmail password
To put your setting in, you will need to open the Options menu, you can access this via Tools > Options > Email or via the shortcut Ctrl+O. Once you have the Email tab selected you can enter your details.
After all files have been completed, press Test and you should hopefully get a successful test message. If nothing happens, you should see an error message in the Journal Tab of the Terminal Window as below.
One reason for this is simply due to Gmail trying to protect your security and you are likely to need to authenticate this request via your Google account first.
Check your email account dor a message from Google which will provide you with a link to allow access. In some cases you may need to change the setting to allow less secure apps (follow the Google instructions they send you).
If you feel uncomfortable doing this, then your only option is to rely on other notification options for MT4 as SMTP is the only email option available for MT4.
Once you have completed these steps, go back to the Email tab in the MT4 Options menu and click test again. You should now hopefully receive the message.