Setting Up Alert-Driven Trading

Instead of watching charts all day, you can configure Custom Alerts to notify you when trading conditions align. This tutorial walks you through setting up an alert-driven workflow from scratch, so you only look at charts when there is something worth looking at.

Step 1: Choose Your Version

  • Custom Alerts AIO: recommended for most users. All SI indicators are built in, everything works out of the box.
  • Custom Alerts Standard: use if you already own FX Power NG, FX Volume, and other SI indicators separately.

The AIO version has all indicators enabled by default. The Standard version requires you to enable each indicator manually ("Use FX Power NG", "Use FX Volume", and so on).

Step 2: Enable the Right Indicators

For the Standard version, decide which data sources you need:

  • FX Power NG ("Use FX Power NG"): required for most forex strategies (Dog Walk, Pair Breakout, Currency Dynamic, Currency Extreme, Line Delta)
  • FX Volume ("Use FX Volume"): required for Rising Interest alerts and volume confirmation on breakout alerts. Needs SI Connect running.
  • IX Power ("Use IX Power" set to "Use on all symbols"): required for Easy Scalping, Dynamic, and Extreme alerts on indices, metals, and crypto
  • FX Dynamic ("Use FX Dynamic"): provides ATR data in alert messages. Highly recommended for the ATR filter.
  • FX Levels ("Use FX Levels"): adds support/resistance levels to alert messages

The AIO version has all of these active from the start.

Step 3: Configure Your Primary Strategy

For beginners, start with Pair Breakout:

  1. Make sure "Enable Breakout Alert" is set to true (already true by default)
  2. Leave other strategies disabled until you are comfortable with the alert flow

Pair Breakout fires when FX Power lines for a currency pair separate clearly, indicating one currency is gaining strength while the other weakens. The alert message includes the symbol, direction (BUY/SELL), price, and optionally ATR and level information.

As you get comfortable, add strategies one at a time:

  • Dog Walk for trend continuation setups
  • Easy Scalping for index/metal pullback entries
  • Rising Interest for volume-backed moves

Step 4: Set the ATR Filter

The ATR filter is one of the most important settings. It prevents alerts when a move is already extended:

  1. Enable "Enable ATR filter for alerts"
  2. Set "Allow alerts up to x % ATR" to 100 (or lower, e.g., 80 for more conservative filtering)

This means alerts will only fire when the current move has not yet exceeded the Average True Range. If price has already moved 120% of ATR, the alert is suppressed, you would be chasing.

This requires "Use FX Dynamic" to be enabled.

Step 5: Configure Alert Channels

Set up how you want to be notified:

Channel Parameter Best for
Popup "Alert Message" When you are at your desk
Mobile Push "Mobile Notification" When you are away from the screen
Email "Alert Email" For logging and review
Sound "Alert Sound" Audio cue while working

Recommended combination: Popup + Mobile Push. This covers both scenarios, at your desk and away.

For mobile push to work:

  1. Your MetaTrader must have a MetaQuotes ID configured
  2. The MT5 mobile app must be installed with push permissions

Step 6: Set a Time Schedule

Restrict alerts to your active trading sessions:

  1. Enable "Enable processing time schedule"
  2. Configure the time windows in broker time:
    • Example for London session: "Start 1" = 08:00, "End 1" = 12:00
    • Example for New York session: "Start 2" = 13:00, "End 2" = 17:00

This prevents your phone from buzzing at 3 AM with alerts you cannot act on.

Step 7: Set Alert Cooldown

Without a cooldown, the same strategy-symbol combination can fire multiple alerts in quick succession:

  • Set "Alert cooldown in minutes (0 = deactivated)" to 30 for a balanced approach
  • Use 60 if you prefer fewer, more spaced-out notifications
  • Use 0 only if you want every single signal (not recommended for mobile push)

Each strategy-symbol pair has its own independent cooldown timer, so a Breakout alert on EURUSD and a Breakout alert on GBPUSD can fire within the same cooldown period.

Refining Your Setup

Reduce Noise with Currency Filters

If you only trade EUR and GBP pairs, disable alerts for other currencies:

  • "Enable alerts for JPY and JPY pairs" = false
  • "Enable alerts for CHF and CHF pairs" = false
  • "Enable alerts for NZD and NZD pairs" = false
  • and so on for the remaining currencies

Or use "Limit alerts to specific symbols" = true with "Comma-separated list of symbols" = "EURUSD,GBPUSD,EURGBP,EURJPY" for maximum precision.

Improve Breakout Quality

Add filters to the Pair Breakout strategy:

  • "Use Delta as filter" set to "Delta of FXP AP1" with "Minimum value for Delta filter" = 30, only alert when momentum is significant
  • "Check for clear separation" = true with "Strong above, weak below" = 0, require clear line separation
  • "Minimum Dynamic for Breakout Alert" set to "double-sided", require both currencies showing momentum

Volume Confirmation

If FX Volume is enabled, add volume confirmation to breakout alerts:

  • "Confirmed by Net Long Change" set to "one confirms" with "Minimum Net Long Change" = 0.2, at least one currency shows Net Long Change
  • "Confirmed by Total Volume Change" set to "one confirms" with "Minimum Total Volume Change" = 0.2, at least one currency shows Total Volume Change

Advanced: GVT Integration

For semi-automated trading, enable "Set GVT". Each alert sets a MetaTrader Global Variable that other EAs can read.

This allows you to build a workflow where Custom Alerts identifies the opportunity and a separate EA handles the execution, entries, position sizing, stop placement, based on the GVT trigger.

Example Setup Summary

A solid starting configuration:

  • Strategy: Pair Breakout only
  • ATR filter: enabled, limit 100
  • Cooldown: 30 minutes
  • Channels: Popup + Mobile Push
  • Time schedule: London + New York sessions
  • Currency filter: Focus on the 4-5 currencies you trade most

Live with this setup for a week. Track which alerts you act on and which you ignore. Then refine: tighten the ATR limit, add a delta filter, or enable a second strategy.