The FX AlgoTrader MA Price Crossover / Proximity alert indicator provides traders who monitor moving averages with two types of alert option which are Price/Moving Average Crossover Alerts and also Price/Moving Average Proximity alerts.
Once the trader has defined the moving average period they wish to monitor the system will constantly monitor price action and it's relationship with the moving average. If proximity alerts are enabled, as soon as the price action comes within a trader specified threshold (specified in pips) around the moving average - an alert will be triggered. If crossover alerts are also enabled the trader will receive alerts when the price has crossover over the moving average.
Furthermore, the trader can control the 'crossover mode' of the price / moving average crossover. The system has two modes which are 'Touch' and 'Printed'. A 'touch' based crossover is the price momentarily crosses the moving average and a 'printed' crossover is where the price has crossed the moving average and the bar/candle has closed thus creating a physically printed price moving average crossover.
A lot of traders monitor the relationship between price and the 200 period SMA/EMA (simple moving average/exponential moving average) on longer terms charts. Traders consider the market to have a bullish (long) bias when price action is above the 200 period MA and a bearish bias when price action is below the 200 period MA.
The calculation method which traders use is personal preference but EMAs will track price action more closely and therefore provide a slightly earlier signal than moving averages calculated using the SMA method.
If traders use the FX AlgoTrader proximity alert function within this tool they can also get advanced warning of a potential MA cross or rejection as price action comes within a specified range of a defined moving average. In many cases moving averages can act as either support or resistance so traders can benefit from being alerted when price is close to a critical level. A price proximity alert allows the trader to analyse his/her options and to develop a trading plan depending on how price action behaves when the moving avergae is actually touched.
|Indicator Parameter Name||Description|
|Use_Alerts_Pro||For traders who have subscribed to the FX AlgoTrader Alerts Pro speech synthesised alerts service|
|Enable Crossover Alerts||Enables/disables crossover alert system|
|Enable Price-MA Proximity Alerts||Enables/disables the price/proximity alert system|
|Proximity Alert in Pips||Sets the width of the proximity channel alert above and below the moving average|
|Proximity Alert Channel Colour||Sets the colour for the proximity channel|
|Proximity Alert Channel Length in Chart Periods||Sets the display length of the proximity channel|
|Proximity Alert Sound||Sets the wav sound played when a proximity alert is generated|
|Enable Push Alerts||Enables/Disables Push notifications sent from MT4 to your mobile device running the MT4 app|
|Enable MT4 On-screen pop-up alerts||Enables/Disables on screen MT4 pop up alerts - uses standard MT4 alert pop up function|
|Enable Email Alerts||Enables/Disables email alerts - email settings are configured within the MT4 options (CTRL+O / Email Tab)|
|Crossover Alert Sound||Sets the wav sound played when crossover alerts are generated|
|Maximum Number of Alerts||Sets the maximum permitted number of alerts which can be generated|
|Minimum Time Between each crossover alert in seconds||Sets the minimum time between crossover alerts in seconds|
|Minimum Time Between each proximity alert||Sets the minimum time between proximity alerts in seconds (use a different value to the minimum time between crossover alerts)|
|Reset Alert Counter after (x) minutes||Resets the alert counter after X minutes. Recommended value is the same as the chart period - eg for M15.. use 15, for H1 use 60, for H4 use 240|
|Crossover Mode||Select 'Touch' for momentary crossover alerts and 'Printed' for alerts when the price has physically crossed the MA and the candle has closed|
|Moving Average Period||Sets the Period for the Moving Average which is being monitored in relation to the current price|
|Moving Average Shift||Allows the trader to shift the moving average by X chart period - we do not recommend changing this|
|Moving Average calculation method||Allows the trader to select the standard MT4 calculation options eg Simple, Exponential, Smoothed and Linear Weighted|
|Moving Average Applied Price||Allows the trader to control the price basis on which the moving average is calculated|
One Time Fee
(no ongoing charges)