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We have looked at how to set up an alert to notify you when just one chart condition is met. You can also set up alerts that will only trigger when multiple different conditions have all been met. For example you can set up an alert to notify you if there is a positive cross over on the hourly MACD chart, but only if the 1 day Stochastic indicator has also fallen below than 20%.
We will discuss how to do this below, building on the previous Single Condition Alert example for Microsoft. The steps to building a multi-condition alert are very similar to building a single condition alert.
Step 1: Select Your Chart
As before, select the stock chart that you would like to create the alert against. In this example, we are looking at a chart for the company Microsoft (MSFT)
In this example, we are looking to create a combination Stochastic alert and MACD alert. The MACD technical indicator chart in already displayed in our default chart display, so we now need to add the Stochastic indicator chart to the display also. To do so, click the chart "settings" button:
To add a second technical indicator chart, click the "add" button on the chart settings menu:
Select "Stochastic" from the drop down list:
Adjust the chart parameters as required for your investment strategy:
When you have finished adjusting your chart display settings, click the "refresh" button to update the chart display or click the "save" button to make these changes your default chart settings.
The chart is now displayed with the MACD and Stochastic indicator charts beneath. To the right hand side of each chart are its associated "Trigger Buttons".
You are now ready to start creating your alert.
Step 2: Select Your Alert Triggers
Select your alert trigger condition by clicking on the trigger button corresponding to the appropriate chart. In this example, we are creating a combination alert that will notify us when the daily Stochastic has fallen below 20% AND the hourly MACD rises above the smoothed MACD. Both conditions must be met in order for the alert to trigger.
The order in which you set up your trigger conditions does not matter at this stage as we can adjust the alert sequence later. Firstly let us set up the MACD rule. We go through as exactly the same steps as in the previous Single Condition Alert example. This rule is based on the hourly chart, so change the chart view and interval period to 1 month and 1 hour respectively.
To set up the MACD cross-over alert condition, simply click on the "positive cross-over trigger" button to the right of the MACD chart - represented on the button graphic as a blue line (MACD) rising above a red line (Smoothed MACD).
On the far right hand side of the CHART page (just to the right hand side of the chart) is the "Alert Creation" section. When you click on the alert trigger button, the alert condition will automatically appear in the "Create Alerts" section:
We now need to add our second condition to the alert: the daily stochastic falling below 20%. The chart display is currently set to show 1 month of data with an hourly interval. We need to change the interval period to display daily interval data.
And to set up the Stochastic falling below 20% condition, simply click on the "falling threshold" trigger button to the right of the Stochastic Chart:
To help you quickly identify the appropriate trigger button for your alert condition, if you hover your mouse over the alert trigger buttons a brief description is displayed. In this example, when we hover our mouse above the "falling threshold" trigger button a pop up description: "New Trigger when MSFT's %k (14,3) drops below ...":
When you click on the "falling threshold" trigger button, you will be asked to specify the threshold value you wish to be notified that the Stochastic value has fallen below. In this instance, we wish to be notified if the Stochastic has fallen below 20%, so insert "20" in the text box, as shown below; and then click the "add trigger button":
A quick glance to the "Alert Creation" section of the page, and you will see that the second alert condition has been add to the list of rules that must be met before the alert is triggered.
You can proceed to the final steps in creating a multi-condition alert.
Step 3: Customise & Activate Your Alert
The final stage in creating your alert is to activate it.
Before you do so, you can customise your alert further. For example, as this is a multi-condition alert you can specify if you would like the alert conditions to be met in any particular order before an alert notification is triggered. This can be in "any sequence" or in the exact sequence in which the alert rules are listed ("listed sequence").
You can change the order of the conditions in the listed sequence by clicking on the "arrows".
In this example, we want the daily stochastic to have fallen below 20%, followed by a crossover on the hourly MACD chart, so clicking on the arrows, we will change the order of the rules and select "the listed sequence" option from the "Sequence" drop down menu.
In addition, we can also specify the maximum time that is allowed to lapse between the first and last alert condition being met. If the alert trigger conditions do not both occur within the selected time frame the alert will not be triggered.
In this example, we will say we are looking for both of these alert conditions to be met within one week of each other, and so we will select "1 week" from the "Timeframe" drop down menu.
And so, we're nearly there!
As with our Single Condition Alert example, you can further customise the alert by adding a personal message to your alert. This message will be displayed in the subject header of your email, text or instant messenger notification you receive when the alert is triggered.
To add a personalised message to your alert, just type your message in the "Message" text box, as illustrated below.
You can also select how you wish to be notified: by sms text message, email or instant messenger. There will already be a tick in the check boxes next to your default notification methods (as you defined on your Alert Notification page). However, if you want to select a different method of notification to your usual default method, you can do so here by ticking the appropriate check box.
And finally, you need to activate your alert. To do so, click on the "activate" button, as shown below:
The alert will now appear in the "Active Alerts" section of the chart page:
The next time the chart conditions are met you will receive an alert to your mobile, email or instant messenger, as you selected.
In this example we created a compound alert that will be triggered when two different chart conditions are met. Using the same process, you can create alerts contingent upon three or even more rules being met. For each additional rule condition you wish to add to your alert - just click the appropriate alert trigger button to the right hand side of the charts.
Simple!
So far we have looked at creating alerts that will trigger on just one occasion. When your alert conditons are met you will receive your email or sms alert notification and then the alert will switch to a "paused" state, until such a time as you log back in to timetotrade and manually reactivate the alert (or delete it). In the next tutorial we will look at how to set up your alerts to automatically reactivate once they have triggered - so you will receive an alert everytime the conditions are met again at any point in the future.
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