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 (FXP_ENABLED = true, FXV_ENABLED = true, etc.).

Step 2: Enable the Right Indicators

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

  • FX Power NG (FXP_ENABLED = true) - required for most forex strategies (Dog Walk, Pair Breakout, Currency Dynamic, Currency Extreme, Line Delta)
  • FX Volume (FXV_ENABLED = true) - required for Rising Interest alerts and volume confirmation on breakout alerts. Needs SI Connect running.
  • IX Power (IXP_USAGE = IXP_ALL) - required for Easy Scalping, Dynamic, and Extreme alerts on indices, metals, and crypto
  • FX Dynamic (UseFXD = true) - provides ATR data in alert messages. Highly recommended for the ATR filter.
  • FX Levels (FXL_ENABLED = true) - 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. Set PairBreakoutAlert = 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. Set ATR_alert_filter = true
  2. Set ATR_alert_limit = 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 FX Dynamic to be enabled.

Step 5: Configure Alert Channels

Set up how you want to be notified:

Channel Parameter Best for
Popup alertsMessage = true When you are at your desk
Mobile Push alertsNotification = true When you are away from the screen
Email alertsEmail = true For logging and review
Sound alertsSound = true 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. Set EnableTimeSchedule = true
  2. Configure the time windows in broker time:
    • Example for London session: StartAM=08:00, EndAM=12:00
    • Example for New York session: StartPM=13:00, EndPM=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 AlertCooldownMinutes = 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:

  • JPYAlert = false
  • CHFAlert = false
  • NZDAlert = false
  • etc.

Or use UseSymbolsFilter = true with SymbolsToAlert = "EURUSD,GBPUSD,EURGBP,EURJPY" for maximum precision.

Improve Breakout Quality

Add filters to the Pair Breakout strategy:

  • delta_check = AP1 with mindelta = 30 - only alert when momentum is significant
  • clearseparation = true with separationvalue = 0 - require clear line separation
  • dynamic_option = BOTH_DYNAMIC - require both currencies showing momentum

Volume Confirmation

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

  • netlong_option = NLC_ONE with minimum_nlc = 0.2 - at least one currency shows Net Long Change
  • total_option = TVC_ONE with minimum_tvc = 0.2 - at least one currency shows Total Volume Change

Advanced: GVT Integration

For semi-automated trading, enable alertsGVT = true. 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.