Fib tool with alert

Hi everyone,

I was wondering, is it possible to program a fib tool for metatrader that gives an alert when the 100 or 0 line of the fib is breached? If someone can do something like that, or let me know how it's done, I'd really appreciate it.

That sounds like more of a breakout indicator if your only looking for a notification on a break of the 0 or 100.

Yeah, just something that would let me specify a range and let me know when it gets broken.

So your looking for a breakout indicator.

I think I'll teach a man to fish here instead of just giving it to you.

Follow the steps in the pictures. There are several indicators in the first post to choose from.

Thanks! I'm going over the indicators in that thread, but I haven't found what I'm looking for yet (something I can just draw on the chart myself rather than the indicator drawing itself automatically). I'll keep looking through that thread though.

Good luck, there are hundreds of indicators out there.

why not just draw the fib on the chart then manually set the alerts with the built in alert feature in MT4? You already said you don't want it to draw the fib lines automatically, since you are there it would only take a few seconds to set the alerts manually.

what you are asking for can be done but I don't think there is one out there for that yet. You would basically need an indicator that would scan through all of your objects on a given chart looking for one or more that were fib line objects, then calculate the 0 and 100% values and wait for a break of those values to alert.

That's actually the best idea so far, magnumfreak, thanks! It works beautifully.