Support Price Alert Line Forex Indicator (MT4)

About the Indicator

The Support Price Alert indicator that runs on Metatrader 4  notifies you when the price reaches your predetermined support price alert level.

After loading the indicator on the chart, it appears in the form of a horizontal magenta colored line.

The default magenta color can be changed to whatever color you want.

You can move the magenta colored support alert line up and down on the chart with your mouse button.

The indicator alerts you when the price touches the magenta colored support horizontal line.

Key Features

• Plots a customizable magenta support alert line
• Triggers visual, sound, and email alerts when the price breaks below
• Compatible with all timeframes and currency pairs
• Lightweight and easy to set up
• Perfect for breakout and continuation traders

How It Works

When you load the indicator onto your MT4 chart, it will display a horizontal magenta line.

You can manually position this line at any important support level you want to monitor.

Once the price crosses or closes below this level, the indicator triggers an alert based on your preferences:

• On-screen pop-up
• Sound alert
• Email notification (if enabled in MT4 settings)

Free Download

Download the “Alert support.ex4” indicator for MT4

Benefits of Using the Indicator

• Helps capture bearish breakouts from support zones
• Reduces screen time while keeping you alert to key levels
• Can be used in scalping, day trading, and swing trading strategies
• Improves trade planning and discipline

Indicator Example Chart (EUR/USD M15)

How To Trade Using This Indicator

Here’s how you can apply this indicator in your trading:

📉 Entry Point

Place the magenta support alert line just below a key support level on your chart. When price breaks and closes below this line and the alert triggers, it can signal a short (sell) opportunity. Confirm with volume or candle patterns for added confidence.

🛑 Stop Loss

For sell entries, place your stop loss just above the broken support level or recent swing high. This protects you from false breakouts and price pullbacks.

🎯 Take Profit

Target the next support level below or use a fixed risk-reward ratio such as 1:2 or 1:3. You can also trail your stop loss as price moves in your favor.

Support Price Alert Line + 1-2-3 Forex Pattern v6 with Arrows Strategy for MT4

This strategy combines the real-time support monitoring of the Support Price Alert Line Forex Indicator with the pattern-based entry confirmation of the 1-2-3 Forex Pattern Indicator v6 with Arrows.

By aligning price behavior around strong support levels with reliable 1-2-3 reversal patterns, traders can catch low-risk buy opportunities and occasional trend reversals.

This setup works well on M15 to H1 charts across major forex pairs.

What Is This Strategy About?

The Support Price Alert Line Indicator lets traders set alert zones at critical support levels where the price is expected to bounce.

The 1-2-3 Forex Pattern v6 Indicator automatically detects the classic 1-2-3 reversal formation and shows entry arrows when the pattern completes.

By combining support zones with bullish 1-2-3 patterns, traders can time low-risk buy entries and benefit from early-stage trend reversals or corrections.

Buy Rules

Conditions:

• Price touches or bounces near a support line drawn by the Support Price Alert Line Indicator.
• The 1-2-3 Pattern Indicator detects a bullish 1-2-3 pattern and displays a buy arrow.

Entry:

Enter a buy trade when the pattern arrow appears at or near a support level and confirms the price has reversed from the zone.

Stop Loss:

Place a stop loss below the support level or below the low of the ‘point 3’ of the 1-2-3 pattern.

Take Profit:

Use a risk-reward ratio of 1:2 or target the next visible resistance zone.

Sell Rules

Conditions:

• This setup is primarily support-based and favors buy trades. However, you may consider selling trades if:
• Price fails to hold the support zone (breaks below the alert line).
• The 1-2-3 Indicator shows a bearish pattern and a down arrow after the break.

Entry:

Open a sell trade after a confirmed breakdown below support and bearish 1-2-3 signal confirmation.

Stop Loss:

Set stop loss above the broken support level or above point 3 of the bearish 1-2-3 pattern.

Take Profit:

Target the next major support area or use a fixed R:R ratio like 1:2 or 1:3.

Advantages

• Combines price structure (support zones) with a reliable chart pattern (1-2-3) for precision entries.
• Reduces risk by focusing on confirmed bounces or breakdowns near known price levels.
• Automatically drawn arrows simplify trade execution decisions.
• Effective across different currency pairs and intraday timeframes.

Drawbacks

• Support zones need to be well-placed to be effective.
• 1-2-3 patterns may repaint if not confirmed by additional price action.
• Requires some manual confirmation and market observation.

Strategy Conclusion

The Support Price Alert Line + 1-2-3 Forex Pattern v6 Strategy offers traders a smart, pattern-based approach to buying at strong support levels.

The Support Price Alert Line Indicator provides the foundation by marking high-probability bounce zones, while the 1-2-3 Pattern v6 Indicator confirms reversal structure with visual arrows.

This pairing helps traders avoid false entries and enhances trade confidence around critical price areas.

Download Now

Download the “Alert support.ex4” indicator for Metatrader 4

Indicator Specifications

Examples, Case Use, Pros & Cons

Example Use Case

A trader sets the blue support alert line at 1.0830 on GBP/USD. Once the price breaks that level, a notification pops up.

The trader confirms the move with volume increase and enters a short position for a breakout trade.

✅ Pros

• Excellent for spotting bearish breakouts
• Customizable and user-friendly
• Useful in manual and automated strategies

❌ Cons

• Doesn’t provide full trade signals or trend direction
• Only alerts for support breaks (not resistance)

Final Words

The Support Price Alert Line Indicator for MT4 is a smart addition to any trader’s toolkit.

It gives you the flexibility to monitor key support levels passively while staying ready to act when the price breaks down.

If you trade support levels, breakouts, or bearish momentum moves, this indicator makes your workflow easier, faster, and more precise.