How Do I Send Alerts From TradingView To MT4/5
Algo trading platforms like Metatrader have gained popularity among traders for several reasons, including speed and efficiency. Traders who leverage TradingView and MetaTrader like to link their broker on MT4/5 to TradingView so they can send signals directly to their broker, but auto-executing is way better.
So how do you send alerts from TradingView to MT4/5? You can send alerts from TradingView to MT4/5 using Trading Connector. Trading Connector is a bridge that allows traders to send TradingView alerts to MT4/5 and execute the trade in less than a second.
Before we go into the integration process, let's take a moment to understand the two platforms.
TradingView And MT4/5
TradingView is known for its advanced charting capabilities, extensive library of technical indicators, and user-friendly interface. Traders can analyze market trends, identify patterns, and conduct in-depth technical analysis using TradingView's feature-rich charts.
On the other hand, MetaTrader provides traders with the tools to execute trades efficiently. MetaTrader 4 (MT4) and MetaTrader 5 (MT5) offer a comprehensive range of features, including real-time market data, order execution capabilities, and extensive charting options.
With its robust infrastructure, MetaTrader has become a preferred choice for traders across various financial markets.
Why You Should Integrate TradingView With MT4/5
While TradingView excels in charting and analysis, MetaTrader is renowned for its trade execution capabilities. By integrating TradingView alerts with MetaTrader, traders can leverage the strengths of both platforms.
Sending alerts from TradingView to MT4/MT5 allows traders to act swiftly and seize profitable trades. The integration streamlines the trading workflow, eliminating the need to constantly switch between platforms and ensuring the timely execution of trades based on alert conditions.
Introducing The Trading Connector
To link TradingView and MetaTrader, a specialized tool called the Trading Connector comes into play. The Trading Connector acts as a bridge, transmitting real-time alerts from TradingView to MT4/MT5. This tool enables integration and communication between the two platforms, ensuring that your alerts from TradingView are instantly transmitted to your MetaTrader platform.
How To Send Alerts From TradingView To MT4/5: Step By Step
Connecting TradingView with MT4/MT5 using the Trading Connector involves a straightforward process. First, you need to install the Trading Connector. Once the connection is established, your tradingView alerts will go directly to ExpertAdvisor (TradingConnectorEA) on your MT4 or MT5 platform.
Step 1: CHROME EXTENSION
Visit the Chrome extensions web store and install the "TradingView.com Alerts to MT4/MT5" extension.
Click the icon on the right-hand side of Chrome's Address Bar.
You'll see four black "PayPal Subscribe" buttons. Click one to subscribe.
Enter your subscription ID into the field below the four black buttons.
Step 2: TRADINGCONNECTOR.EXE
Install MetaTrader but do not launch it yet.
Download and launch installation from the file TradingConnectorInstall.exe.
Complete the installation process (which includes automatic installation of Windows components (OpenSSL and MSVCR120.dll).
If you do this correctly, you'll see "Ready" in the lower left corner of the app.
Step 3: EXPERT ADVISOR
If you had MetaTrader installed on your computer before installing TradingConnector.exe, ExpertAdvisor (TradingConnectorEA) will be automatically copied into MetaTrader's Data Folder. If not, you'll have to install it manually.
To proceed:
Restart your MT4/MT5.
Find "TradingConnectorEA" in the Navigator pane, and right-click to "Attach to Chart."
Go to the TradingConnectorEA properties Common tab and enable "Allow DLL imports" and "Allow live trading."
Enable AutoTrading in the main MT4/MT5 window (Ctrl+E).
Here's what you should see if you get the steps right. Otherwise, visit www.tradingconnector.com.
Configuring Alerts In TradingView
To send alerts from TradingView to MetaTrader, you must configure alerts within the TradingView platform. TradingView offers a user-friendly interface that allows you to set up alerts based on various criteria, such as price levels, technical indicators, and custom conditions.
Here's a step-by-step guide on how to configure alerts in TradingView:
Sign in to your TradingView account.
Once you're logged in, select the chart you want to configure alerts for. You can search for a specific symbol or choose from the available options.
On the chart, locate the toolbar at the top and find the "Alerts" button. It usually looks like a bell icon. Click on it to open the alerts panel.
In the alerts panel, you'll see a list of your existing alerts (if any). To create a new alert, click on the "Create Alert" button. It's usually located at the top-right corner of the panel.
A new window will appear, allowing you to configure the details of your alert. Here are the key settings you can customize:
A. Symbol: Choose the financial instrument you want the alert to be applied to (e.g., stocks, forex pairs, cryptocurrencies).
B. Condition: Specify the condition that triggers the alert. You can select from various options, such as price crosses a certain level; an indicator reaches a specific value or a custom script condition.
C. Once Per Bar / Once Per Minute: Determine whether the alert should trigger only once per bar or once per minute. This setting depends on your preferred frequency of notifications.
D. Alert Actions: Decide how you want to be notified when the condition is met. TradingView offers various options, such as popup messages, email notifications, and push notifications to your mobile device through the TradingView app.
After configuring the alert settings, click on the "Create" button to save the alert.
Your alert will now appear in the alerts panel, and TradingView will monitor the market for the specified condition. Once the condition is met, the trading signal is instantly delivered to (TradingConnectorEA) on your MT4 or MT5 platform.
Note: Trading Connector supports nine basic commands: long (or buy), short (or sell), closelong, closeshort, cancel long, cancel short, closepart, slmod, tpmod on all markets available with your broker. So you can send any of these alerts from TradingView and apply other order parameters from TradingConnectorEA configuration.
Conclusion
Sending alerts from TradingView to MT4/MT5 provides traders with a seamless integration that combines the analytical strength of TradingView with the trade execution capabilities of MetaTrader. Trading Connector can execute trades while you sleep, provided you've set up the alerts and kept your Chrome running. Amazing right?