You're likely juggling a lot when you trade with a prop business, including more than one position, strict risk limits, designated trading hours, and possibly even multiple accounts. It's difficult to stay on top of and failing to notice a crucial price level or change in the market could cost you not only your profits but also your entire account. MetaTrader 5 (MT5) alerts and notifications are useful in this situation. They serve as additional eyes on the market, allowing you to avoid spending all of your time staring at a device. Let’s look at setting up alerts and notifications in MT5, specifically for prop trading.
Why Alerts and Notifications Matter in Prop Trading
Before we go into the how-to stuff, let’s talk about why you should care about alerts and notifications in the first place—especially in a prop trading environment.
Prop firms often have strict rules: daily drawdown limits, max position sizes, trading windows, and sometimes even news trading restrictions. You can't afford to be reactive—you need to be proactive. Alerts can help you:
Stay on top of market conditions
Catch trade setups when they’re ripe
Avoid rule violations (like hitting daily loss limits)
React to sudden volatility or news-driven price spikes
Stick to your strategy without staring at charts all day
In short, alerts and notifications help you trade smarter, not harder.
Types of Alerts You Can Use in MT5
The MT5 trading platform gives you a few different ways to stay in the loop. Here's a quick rundown:
Price Alerts – Get notified when price hits a specific level.
Time Alerts – Trigger alerts at a specific time or after a countdown.
Indicator Alerts – Alerts based on technical indicator conditions.
Custom Alerts (via EAs or scripts) – For the more advanced users who want highly specific conditions.
Push Notifications – Sent straight to your phone.
Email Alerts – For those who prefer inbox updates.
Sound Alerts – Audible cues right from the platform.
We’ll go through how to set each of these up and where they can fit into your prop firm strategy.
How to Set Up Price Alerts in MT5
This is probably the most common type of alert, and it’s super easy to set up.
Step-by-Step:
Right-click anywhere on the chart or in the Market Watch window.
Select Trading > Alert.
A line will appear on your chart. You can drag this to your desired price level.
Double-click the alert in the "Alerts" tab (at the bottom of the platform) to tweak settings like:
Action (sound, file, email, push notification)
Symbol
Condition (bid price above, below, equal to a value)
Expiry time
When to Use It:
Waiting for a breakout or retest level
Monitoring key support/resistance zones
Watching major news-related price targets
If you're doing prop firm challenges, this is a great way to avoid FOMO trades. Just wait for the alert, then assess the setup.
Using Indicator-Based Alerts (with a Little Help)
MT5 doesn’t come with built-in indicator alerts but you can easily find custom indicators that include alert functions. Or, if you’re feeling techy, you can modify existing indicators to include alerts (a bit of MQL5 coding required).
Popular Indicators with Alerts:
Moving Average Crossovers
RSI Overbought/Oversold alerts
MACD cross alerts
Bollinger Band breaks
You can find tons of these on the MQL5 marketplace or for free on forums like Forex Factory or TradingView (some will have MT5 versions).
Pro Tip:
Set alerts for your strategy’s entry signal. That way, you're not reacting to noise—you’re responding to signals that actually matter to your prop firm's account performance.
Time-Based Alerts (Because Timing Is Everything)
Let’s say you’ve got a prop firm that doesn’t allow news trading. Wouldn’t it be great to get an alert five minutes before high-impact news drops? Or maybe you want to start scanning charts an hour before the London open. Here’s how you can set a time alert:
Steps:
Go to the Alerts tab at the bottom of your MT5.
Right-click and select Create.
Choose Time = from the Condition dropdown.
Set the specific time (in your server’s timezone).
Pick your preferred action—sound, push, email, etc.
Great for:
Prepping for market opens
Avoid news-based trading if your firm has restrictions
Reminding yourself to journal your trades or walk away for a break (yeah, we forget that too)
How to Set Up Push Notifications on Your Phone
Let’s be honest: most of us are glued to our phones more than our trading terminals. MT5 makes it easy to get alerts sent straight to your phone—whether you're out grabbing lunch or just away from your desk.
What You Need:
The MetaTrader 5 mobile app
Your MetaQuotes ID (found in the mobile app under Settings)
How to Set It Up:
Open MT5 on your desktop.
Go to Tools > Options > Notifications tab.
Check Enable Push Notifications.
Paste your MetaQuotes ID (from the mobile app).
Click Test to make sure it works.
Now, any alert you set with the Notification action will hit your phone instantly. It is a game changer, especially for prop traders managing multiple sessions or strategies.
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