Before a MultiCharts indicator or strategy can generate an alert, the script’s alert settings need to be enabled. How do we do that?

In this article:

Enabling alerts of MultiCharts indicators and strategies

Alerts notify us in real time of certain events, like a price breakout or an oscillator reaching a specific value. When such a situation happens, we can generate an audio alert, notification window, and/or an email alert (MultiCharts Wiki, 2013). Should we miss the alert, we can always find it in the ‘Alert’ tab of the Order and Position Tracker window.

Whether we generate alerts programmatically or apply alerts to manual drawings, MultiCharts can fire alerts when we open a workspace, replace a data series (that is, symbol) with another, when the real-time bar closes, or when there’s a new price update (MultiCharts Wiki, 2013). But this requires that the script’s alerts are enabled to start with.

While we can programmatically check if alerts are enabled, we cannot enable alerts with code. This means that turning on alerts always needs to be done by hand. And even though each script type has the same alert settings, where those alert settings can be found differs.

And so in this article we’re going to look at the following:

Let’s start with enabling the alerts of indicators.

Turning the alerts of a MultiCharts indicator on

We enable and configure an indicator’s alerts in the indicator settings window. To open that window, we first right-click on the chart and select ‘Format Indicators’:

Selecting 'Format Indicators' from the MultiCharts chart

This opens the ‘Format Objects’ window. In the ‘Studies’ tab of this window, we select the indicator whose alerts we want to enable and then click on ‘Format’:

Formatting an indicator in MultiCharts

This opens that indicator’s ‘Format Study’ window. Here we go to the ‘Alerts’ tab and there we check the ‘Enable Alerts’ checkbox. In the same window we can also specify the kind of alert we want to use (like a visual or audio alert):

'Turn on the 'Enable Alerts' checkbox in MultiCharts
Tip: After configuring the alert setting of an indicator, enable the ‘Use as Default’ checkbox to have these settings be the default for all indicators (MultiCharts Wiki, 2013). Those default settings will then be used on all newly created charts. See configuring MultiCharts alerts manually for more on the different options displayed in the ‘Alerts’ tab.

Configuring indicator alerts in the MultiCharts Watchlist

Indicators added to the Watchlist can also generate alerts. To enable alerts in that context, we first right-click on one of the columns with the indicator values:

Formatting an indicator in the MultiCharts Watchlist

This opens a right-click menu with several options, and here we select one of the two ‘format options’ depending on how we want to configure the indicator:

  • With the ‘Format Study’ option we configure the indicator for the currently selected row of the Watchlist window. In the image above, this would configure the Bollinger Bands for the EUR/AUD symbol.
  • The ‘Format [indicator name] Study for All Instruments’ option allows us to configure the indicator (and its alert settings) for all instruments currently in the Watchlist window.

Both options bring up the ‘Format Study’ window. In that window we navigate to the ‘Alerts’ tab and there we can enable the alert settings:

Enable alerts for MultiCharts indicators in the Watchlist

Here we can also configure the MultiCharts alert settings. After specifying those settings, we can enable the ‘Use as Default’ checkbox to have indicators added to new Watchlist windows use these alert settings (MultiCharts Wiki, 2013).

Specifying alert settings in MultiCharts’ Scanner window

Indicators can also generate alerts in the Scanner window, and configuring alerts in that window is similar to how we do that in the Watchlist window. So first we right-click on the column with the indicator values, which brings up the following menu:

Configuring indicators in the MultiCharts Scanner

Here we have two options to configure the indicator:

  • With ‘Format Study’ we configure the indicator only for the instrument that we currently selected in the Scanner window.
  • And with the ‘Format [indicator name] Study for All Instruments’ option we configure the indicator’s settings for all rows in the current Scanner window.

Either option brings up the ‘Format Study’ window. There we select the ‘Alerts’ tab to enable (with the ‘Enable Alerts’ checkbox) and configure the alerts:

Enable MultiCharts alerts in the Scanner window

Enabling alerts of a MultiCharts strategy added to a price chart

Just like indicators, signals (meaning, trading strategy scripts) can also generate alerts. For this we don’t enable the alert settings of each individual signal script, but instead configure the alerts on the strategy level that combines all individual scripts together (MultiCharts Wiki, 2014). And so we cannot manually enable or disable the alerts of one specific signal script – either we enable alerts for all signals on the current chart or turn off alerts for all those signals.

To enable a trading strategy’s alerts, we first right-click on the chart and select ‘Format Signals’:

Configuring a signal added to a MultiCharts chart

This brings up the ‘Format Objects’ window with the ‘Signals’ tab selected. As opposed to configuring the alerts of indicators, we don’t select an individual script now. Instead, we click on the ‘Properties’ button:

Configuring the properties of a MultiCharts strategy

That button opens the ‘Strategy Properties’ window. Here we select the ‘Alerts’ tab and there we can enable (or disable) the alerts of the different signal scripts in one go:

Enabling the alerts of a MultiCharts strategy

In the ‘Alerts’ tab we also configure the alert settings and, with the ‘Use as Default’ checkbox, have these options be the standard setting for all signals that we add to newly created charts (MultiCharts Wiki, 2014).

Enabling alerts in the MultiCharts Portfolio Trader

Just as with configuring the alerts of trading signals on a chart, alerts for signals in the Portfolio Trader can also only be enabled (or disabled) on the strategy level. This means toggling the ‘Enable Alerts’ checkbox affects all signals in the portfolio strategy.

To enable alerts of a trading strategy in the Portfolio Trader, we right-click on the strategy in the ‘Portfolio Tree’ window. (If you cannot see that window, click on the ‘View’ menu item and select ‘Portfolio Tree’.) In that right-click menu, we then select ‘Show Properties’:

Configuring a strategy in the MultiCharts Portfolio Trader

This opens up the ‘Format Settings’ window. Here we select the ‘Enable Alert’ checkbox to allow all signal scripts of the selected strategy to generate alerts:

Enabling alerts in the MultiCharts Portfolio Trader

There is, by the way, no ‘Use as Default’ checkbox in the Portfolio Trader. We can, of course, configure the alerts so that the Portfolio Trader generates alerts exactly like we intended.

Summary

Before we can programmatically generate alerts in a MultiCharts script, we manually need to enable the ‘Enable Alerts’ checkbox. Because we cannot enable alerts with code, forgetting to enable that checkbox means our scripts cannot generate alerts. We find the ‘Enable Alerts’ option in the ‘Alerts’ tab, and there we also configure the other alert settings for the indicator or strategy. With the ‘Use as Default’ checkbox the alert settings become the default for indicators or signals that we add to future charts, watchlists, and scanner windows.

Learn more:


References

MultiCharts Wiki (2012a, February 7). CheckAlert. Retrieved on March 7, 2016, from http://www.multicharts.com/trading-software/index.php/CheckAlert

MultiCharts Wiki (2012b, February 26). AlertEnabled. Retrieved on March 7, 2016, from http://www.multicharts.com/trading-software/index.php/AlertEnabled

MultiCharts Wiki (2013, May 10). Using Alerts. Retrieved on March 7, 2016, from https://www.multicharts.com/trading-software/index.php/Using_Alerts

MultiCharts Wiki (2014, October 14). Strategy Alerts. Retrieved on March 27, 2016, from https://www.multicharts.com/trading-software/index.php/Strategy_Alerts

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