Price Alert indicator.

The trading strategy using levels has always been one of the most effective in Forex trading. Especially if trades were opened after a breakout of an important level, in this case there is always a high probability that the trend will continue.

The Price Alert indicator cannot be called a full-fledged indicator, since it does not perform independent calculations or market analysis; it is a simple script that sounds a sound signal as soon as the price reaches the point you set.

But you will have to find these points (levels) yourself; at the end of the article I will give a couple of recommendations on how to do this.

Download Price Alert Indicator .

Having carried out the standard installation, or, to be more precise, copying the unpacked indicator to the desired folder of your trading terminal, we proceed to its launch and configuration.

The setup itself is quite simple; you only need to set three parameters:

Sound When Price Goes Above – sounds a sound signal as soon as the price goes above the specified value.

Sound When Price Goes Below – value for the lower price limit, a signal is given if the price falls below this value.

Sound When PriceIs Exactly – a signal is given only if the price exactly matches.

The first two settings are the most important; there are several options for searching for initial data to enter into the Price Alert indicator settings:

• By lows and highs – for a certain time period, for example, you are trading on H1, today the price has not risen above 1.3545 It is this level that serves as the reversal boundary.

We set the first parameter of the indicator to 1.3555 and wait for a breakout signal. We do the same with the lower price limit. • For important levels - if the price has been unable to overcome a certain level for several days, then we register this same level in one of the settings, depending on the location of the price at the moment.

• Use an additional indicator - which will help build support and resistance lines; this option could be the “ Trend Channel Indicator ” or another similar tool.

The main task of the Price Alert indicator is to save the trader from constantly being in front of the trading terminal screen. In addition to a sound signal indicating a breakdown, you can configure sending messages by e-mail.