Having analyzed numerous financial markets it seems it is most fair market of all. In stocks or crypto-currency, biggest moves are caused by some “fundamental” event taking place, like Elon Musk tweeting about buying Tesla out or some group of crypto-influencers pumping a coin. But let’s face it - you’ll never have access to confidential information about these events before they actually take place, so you’ll never be able to enter market position beforehand.
Forex is a good alternative, because it is constantly moving and those moves are readable. It is more difficult to manipulate trillions of dollars, so nobody can do that. Having said that - it is still not easy. 90%+ traders lose money in Forex. So whatever you do, bear in mind to trade only with the amount you’re willing to lose.
So how can these moves be read by a non-insider? By analysing Price Action using variety of tools and indicators, for example on Tradingview.com platform.
MT4 and MT5 are the most popular trading tool (enabling entering/closing trades), supported by 90%+ brokers worldwide.
There are numerous tools for traders and trading platforms in the internet, but TradingView seems to combine the power and scope of features with simplicity of using them.
TradingView delivers and allows to analyse live data from wide range of markets: stocks, indices, crypto, forex, commodities.
It offers variety of useful tools can be used in a matter of seconds in drag’n’drop way: trendlines, fibonacci levels, patterns, S/R lines, RSI, ADX, Stock, moving averages, volume analysis and many more.
It offers alerts, which can be sent to smartphone or email, or even trigger entries automatically.
It provides a gallery of countless indicators, available instantly.
Easiest way to automate trading, even for newbies who have never programmed before. New indicators and strategies can be easily coded in dedicated PineScript language. PineScript is very clean and easy and it can be quickly learned.
PineScript allows building entire strategies and backtesting them.
TradingView.com is free to inexpensive depending on feature-set you want to use.
By using “TradingView Alerts to MT4/MT5” extension or any other component of the system, you declare that you know what you are doing and that you are aware of the risks connected with trading financial markets. You confirm that you are aware of possibility of losing capital, in some events even exceeding amounts invested. Under no circumstances - even in case of technical issues - you will make owner of this site and the solution liable for your losses. If you don’t agree with those rules, please don’t use this software.
We provide only software, not financial advise or services.
You trade at your own risk.
How it works
Google Chrome Extension listens to TradingView.com for alerts in a popup.
Contents of the alert are being placed in “TradingConnector” desktop application.
Signal is instantly delivered to ExpertAdvisor (TradingConnectorEA) on MT4 or MT5 platform.
Because it all happens on the same computer, no data is being passed around the Internet, so the route is fastest possible. It takes less than 1 second from TradingView alert being generated till the trade is executed in MT4 or MT5.
Requirements: Windows-based computer. Suggested 24/7 running VPS. With Chrome browser. www.tradingview.com must be opened in Chrome all the time.
Delivering your signals can be done in 2 ways:
send simple LONG / SHORT alert from TradingView and apply other order parameters from ExpertAdvisor configuration.
advanced way: include some or all parameters in alert message. If a parameter is not found in the alert message a one from ExpertAdvisor will be applied. If particular parameter is not found in alert message, the value from ExpertAdvisor configurator will be used.
Currently 6 basic commands are supported: long, short, closelong, closeshort, cancellong, cancelshort. On all markets available with your broker.
Alert message needs to say exactly “long” or “short” or “closelong” or “closeshort” or “cancellong” or “cancelshort” to work correctly. Otherwise it will fail.
Here are some most basic alerts, you might want to add this code to your PineScript:
alertcondition(EnterLong, title='Long', message='long') alertcondition(EnterShort, title='Short', message='short') alertcondition(ExitLong, title='CloseLong', message='closelong') alertcondition(ExitShort, title='CloseShort', message='closeshort')
Also, when a position is about to be entered, but there already is a position open in the opposite direction, that already existing one will be closed first.
Trading market is being determined by alert header. However, because sometimes a broker runs a market under a different symbol, it is possible to specify that symbol precisely with ’tradesymbol’ command. So no matter what symbol is in alert header, trade will be executed in the one mentioned under ‘tradesymbol’ command. So this alert will open trade with XAUUSD market, even if alert is attached to EURUSD or some other chart on TradingView:
alertcondition(EnterLong, title="long", message='long tradesymbol=XAUUSD')
Other commands, which can be included in alert message after ‘long’ or ‘short’ are:
tp - sets fixed take profit value. So with this setting at 12.0, if the trade goes in favourable direction by 12 pips (120 ticks), it will be closed with a profit of 12 pips.
sl - sets fixed stop loss value in pips. So with this setting at 12.0, if the trade goes against you by 12 pips (120 ticks), it will be closed with 12 pips loss.
lot - sets amount invested in each trade,
risk - defines the size of investment per trade, as a fraction of trading account balance. Values above 0.02 are HUUUUUGE RISK.
trail - (true/false) enables Trailing Stop-Loss on all trades
trailtrig - Trailing Stop-Loss will be activated after a trade gains this number of pips.
traildist - distance of the Trailing Stop-Loss.
trailstep - distance of the Trailing Stop-Loss, increased after a step
offset - for stop and limit orders, explained in section below
accounts - for distributing alerts to various accounts/brokers, explained in section below
Here is example entry alert which combines several parameters:
alertcondition(EnterLong, title="long", message='long tradesymbol=XAUUSD tp=30 trail=true trailtrig=4 traildist=3')
It would trigger long entry on XAUUSD, with TakeProfit 30 pips away from the entry price, and 3-pip Trailing-Stop enabled after price favourably moves by 4 pips. Stop-Loss and lotsize values would be taken from the ExpertAdvisor configuration.
Placing pending orders (stop-orders and limit-orders) is also supported, using “offset” command.
alertcondition(... 'long offset=3') - will place buy-stop order with entry price set 3 pips above current market price.
alertcondition(... 'long offset=-3') - will place buy-limit order with entry price set 3 pips below current market price.
alertcondition(... 'short offset=3') - will place buy-limit order with entry price set 3 pips above current market price.
alertcondition(... 'short offset=-3') - will place buy-stop order with entry price set 3 pips below current market price.
alertcondition(... 'cancelshort') - will cancel all pending and not entered short orders on a given market.
In case you want to distribute your TradingView alerts to various accounts you have with several brokers, you need to add “accounts” parameter to your alerts - it will ensure the move is delivered only to those particular listed accounts. Like this:
alertcondition(EnterLong, title='Long, message='long accounts=123456,098765')
This will execute trades only with specified accounts/brokers. Their MT4's/MT5's must be installed and running on the same computer as TradingConnector desktop app and Google Chrome with TradingView.
Expert Advisor configuration
You can define a number of parameters for your trades in Expert Advisor.
Auto size - with this set to TRUE lot size of every trade will be calculated dynamically according to the size of your account deposit and available funds. This calculation uses value defined in “Risk” parameter. If “Auto size” is set to FALSE, investment amount will be fixed per trade and will be taken from “Lot size”.
Lot size - this will be amount invested in each trade, provided that “Auto size” is set to FALSE.
Risk (%) - this parameter defines the size of investment per trade, if “Auto size” is set to TRUE. Values above 0.02 are HUUUUUGE RISK.
Stop loss - fixed stop loss value in pips. So with this setting at 12.0, if the trade goes against you by 12 pips (120 ticks), it will be closed with 12 pips loss.
Take profit - fixed take profit value. So with this setting at 12.0, if the trade goes in favourable direction by 12 pips (120 ticks), it will be closed with a profit of 12 pips.
Pyramiding - if this set to FALSE, and a trade is already opened, all new signals ordering trades in the same direction will not be executed.
Use trailing - enabling Trailing Stop-Loss on all trades
Trailing trigger - Trailing Stop-Loss will be activated after a trade gains this number of pips.
Trailing distance - distance of the Trailing Stop-Loss.
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Go to Google Chrome Webstore and install “TradingView.com Alerts to MT4/MT5” extension.
Remember that after installing Chrome Extension, you must have www.tradingview.com opened in Chrome at all times (and be logged in). Ideally install and run it all on trading-dedicated VPS server.
Install EXPERT ADVISOR
2. Restart your MT4/MT5.
3. find “TradingConnectorEA” in Navigator pane, right-click to “Attach to Chart”.
4. In SignalsEA properties Common tab, enable “Allow DLL imports” and “Allow live trading”. Inputs tab contains parameters for trading - it was explained in previous paragraph.
5. Enable AutoTrading in main MT4/MT5 window (Ctrl+E).
6. If all went well, you should see smiling face in upper right corner of your chart.
Install Signals Holder APP
1. DOWNLOAD and unpack TradingConnector.zip into C:\TradingConnector on your disk. As attached.