Many MetaTrader 4 brokerages are experiencing problems because they are unable to find out when quotes have stopped flowing on a symbol. When this happens, ill-intended traders take advantage of a frozen feed with old quotes and place off-market trades, which are always 100% winners.
To prevent this unpleasant situation, Boston Technologies created an Expert Advisor that any one can run in their MetaTrader 4 Client Terminal. This Expert Advisor detects frozen quote feeds and informs the user, with both a visual alarm and a sound alarm, that quotes have not been received on a given symbol.
|How To Use It|
|Frequently Asked Questions|
1) Download the following free file: Free Expert Advisor - MT4 Quote Flow Monitor EA
2) Copy or download the file into the MQL4 Directory of your MetaTrader 4 client terminal. Be aware that this directory changes with the white label client terminal you have.
For the default version downloaded from the MetaQuotes website:
For the FXDD white label:
C:/Program Files/FXDD - MetaTrader 4.
4) Open the client terminal (or restart it if it was open).
5) Make sure that the Enable Expert Advisor button is selected.
6) Open the Navigator window (if closed, goes to View and chose Navigator, or push CTRL+N).
7) In the Navigator Window (listed under Expert Advisors in alphabetical order) you will find the program called quotes_flow_monitor2:
8) Drag and drop the quotes_flow_monitor2 onto an open chart that has moving quotes. If you do not have a chart currently open, please open one. If no quotes are flowing, it is a sign that you have a quote flow problem and you do not need this EA.
1) Once dragged the following window will appear:
2) In Inputs:
alarmtime: the number of seconds after which a frozen flow alarm will sound – It is the same time for all the symbols below. If no quotes appear for the symbols in the list after more than 60 seconds, a visual and audio alarm will sound.
symbol1, symbol2,...symbol6: list of symbols to be monitored. Make sure that these symbols exist.
3) In the Common tab, use the following configuration:
4) This window will appear:
If you would like to receive alerts by email, go to the Tools menu. Choose Options, and setup an Email configuration. Click OK in all cases. Then, be sure to test the alert system to confirm that it was setup right. Make sure that the email alerts are not being directed to a SPAM or junk email box.
If you do not configure email alerts, you will NOT receive email alerts.
5) When monitoring has started, go to the Experts tab to verify that it is functioning.
6) If a feed is stuck, the following alarm window will open and a sound alarm will ring:
Click on OK to stop the alarm.
7) Installation of the Quotes Flow Monitoring Expert Advisor is complete. Any feedback concerning the EA is highly appreciated.
Will you offer support for this Quote Flow Monitoring EA?
No, we do not offer support for free products.
Can you modify this monitoring EA?
Yes, of course. If you need the EA modified and adapted to your needs, please contact us with your request and we can make the necessary modifications for a minimum charge of $250. To avoid these costs, we encourage our partners to use the free EA version.
Can you write any EAs?
Yes, please contact us to discuss your specific requirements.
Will you release the source code for this EA?
No, we ask that you please use the EA as is.
Is this EA guaranteed to work 100% of the time?
No, we cannot guarantee any EA 100% of the time. However, this EA has worked very well in all of our tests and will likely provide a valuable support tool to many of our customers.
Why are you giving away this EA for free?
While BT is a business by nature, we do not believe that every piece of software we develop must come with a price tag attached to it. We feel that the free software features we offer allow potential customers to sample our technology, innovation, and creativity first hand.