This post is the user guideline of Market Monitor for MT5 version.
Overview:
Market Monitor is a monitor dashboard that allows you monitor up to 20 symbols in 10 timeframes at the same time. A great tool to monitor multiple symbols and multiple timeframes to understand market and take trading opportunities effective.
Features
- Monitor up to 20 symbols and 10 timeframes in a single dashboard on chart
- Quick change symbols and timeframes with live settings. Don’t need to re-attach
- Easy to switch monitored data in point, percent and volume
- One-click buy/sell buttons right on the dashboard
- Add alerts for important events, for single symbol or multiple symbols
- Easy to save/load your setup
- Quick change between light and dark mode to protect your eyes
- And more
- There are no fancy features, no advanced algorithms, no complex setup required. Market Monitor Dashboard just aims to provide important data in a better way to improve your trading work.
1. Understand market monitor dashboard
After downloading, click on Market Monitor MT5 to attach it into chart. Zero setup required on attaching. Just remember to check “Allow Algo Trading” to allow this tool helps you make trades.
When Market Monitor loaded successfully, you will see a dashboard with up to 20 symbols and some timeframes available on chart. It looks like this
By default, it loads up to 20 first symbols from your Market Watch list and some popular timeframes to show in monitoring dashboard. You can setup your preferred symbols and timeframes on Settings later. However, please spend some time to understand the dashboard first.
Note: If you see the message “No symbols selected”, it means you have no symbols in your Market Watch list. Please add your preferred symbols into Market Watch list.
- The left column is list of monitored symbols
- The top row is list of monitored timeframes
- In the center is market data cells for symbol (on left) at timeframe (on top). You can change data type appear in these cells by Switch data type dropdown list on the corner. Available data types are: Point Change, Percent Change and Volume.
– Cell shows value of point change or percent change or volume on it
– Cell in red means bearish on that timeframe
– Cell in blue means bullish on that timeframe
– Cell in gray means neutral on that timeframe - Click on the cell to switch from current chart to corresponding chart timeframe
- The Buy button allows you to one-click buying asset with the lot size shown on top. You will see a tooltip panel with current bid/ask value, spread and estimated margin when hover the button. These information are live updated
- The Sell button allows you to one-click selling asset with the lot size shown on top
- Click on alert icon to add alert for symbol
- The first row on top is dashboard controls:
– Gear icon control opens Settings dialog
– Alert icon control opens Alert Manager dialog
– Save icon control opens Save Settings dialog
– File Open icon control opens Saved Setting dialog - The Clock next to control shows time of trading server or local time. Click on it to switch between these time modes
- The Light/Dark mode icon on the top-right corner to switch between light and dark mode
2. Setup symbols, timeframes and trades
Click on the Gear icon on controls row to open Settings dialog. From here, you can setup list of monitored symbols, timeframes and behaviors of trade buttons. It looks like this
Symbols tab
- Symbol tab shows symbols you can pick to monitor.
- List of symbols here are symbols in your Market Watch list. You can pick symbols which are available on you Market Watch list only
- You can pick up to 20 symbols to monitor in the dashboard
- The “Clear symbols” link button allows you to clear all selected symbol quickly
TFs tab
- TFs tab shows timeframes you can pick to monitor
- All standard timeframes are supported
- You can pick up to 10 timeframes to monitor in the dashboard
- The “Clear timeframes” link button allows you to clear all selected timeframes quickly
Trade tab
- Set up behaviors of your quick trade buttons here
- Show Buy: Show/hide Buy button on dashboard
- Show Sell: Show/hide Sell button on dashboard
- Trade with SL: Place buy/sell order with Stop Loss level. Set up stop loss level (in point) in the next field
- Trade with TP: Place buy/sell order with Take Profit level. Set up take profit level (in point) in the next field
- Max deviation: Max deviation (in point) for your orders
- Lot step: Increase/decrease step up/down when you click increase/decrease buttons on buy/sell lot size fields
3. Alert Manager
There are 2 ways to add an alert for you events you care:
- Click Alert icon on the right of symbol row to add alert for that symbol
- Click Alert icon on controls bar in top to open Alert Manager dialog and add alert from this dialog
Add Alert dialog
Meaning of fields on add alert dialog as below
- Symbol : Pick alert symbol. You can select a single symbol or pick “Anyone” to use alert for all symbols under monitoring
- Timeframe: Select the timeframe for alert. Alert condition will check on this timeframe only
- Condition: Select condition to fire alert. Supported conditions are:
– Point Up/Down: Change of selected symbol(s) in selected timeframe is at least a number of points (number of point is specified in Value field). In both bullish and bearish
– Point Up: Change of point but just in bullish
– Point Down: Change of point but just in bearish
– % Up/Down: Change of selected symbol(s) in selected timeframe is at least a number of percent (number of percent is specified in Value field). In both bullish and bearish
– % Up: Change of percent but just in bullish
– % Down: Change of percent but just in bearish
– Min Volume: Minimum volume of selected symbol(s) in selected timeframe - Value: Value of condition above
- Expiration: Expiration time of alert. It is trade server time. Alert expired will not shown in manager list
Alert Manager dialog
- List filers bar on top to filter alerts you created based on symbol/timeframe/condition
- Active Alert list show active alerts. Expired alerts or fired alerts will be removed automatically and not shown here
– Hover each alert to see expired time and symbols that alert fired (if alert symbol is “Anyone”)
– Click on Cross icon to remove alert
– Click on Pen icon to edit alert - Click on Add Alert button to add new alert
- Click on Remove Alerts link button to remove alert shown in list (use filters to select alerts you want to remove)
- Click on Channels tab to select channels you want to receive alerts. There are 4 channels supported:
– Terminal message: A message box on MT5 terminal you are working
– Terminal sound: A sound on MT5 terminal you are working
– Mobile notification: A notification on your mobile (You need to setup you app notification. Guidelines here)
– Email notification: An email in your mailbox (You need to set up email notification. Guidelines here)
4. Miscellaneous
Save Settings
Use Save Setting feature to save your setup and alerts for further use
- Click on Save icon in controls bar to open Save dialog
- Enter name you want to use
- Click Confirm to save
Load Saved Settings
Use Load Saved Settings feature to load setup and alerts you stored
- Click on File Open icon in controls bar to open Load dialog
- Select setting file you stored (if any)
- Click Confirm to load
Note: On load settings dialog, you can click on Cross icon to remove your saved settings file
Switch Clock Mode
- Click on the clock to switch between trade server time and load time
- If you don’t know what is the current time mode, hover the clock to see the tooltip
Switch Theme Mode
Click on the Light/Dark mode icon on top-right corner (next to minimize and close icons) to switch to the theme mode you prefer.
