TradingView is among the most widely used charting tools, with powerful indicators, scripts, and alerts for traders. Nevertheless, manual execution of trades on MetaTrader 4 (MT4) and MetaTrader 5 (MT5) is time-consuming. MetaConnector addresses this issue by automating trade execution from TradingView to MT4/MT5, allowing smooth trading without human intervention.
MetaConnector is a bridge between TradingView alerts and MT4 and MT5, enabling the automation of trading strategies by traders. It prevents manual execution through instantaneous conversion of TradingView signals directly into trades in MetaTrader platforms.
Step 1: Install MetaConnector
Firstly, download and install MetaConnector to your machine. Make sure that you use the proper version matching your trading software (MT4 or MT5). Continue by following installation directions on screen.
Step 2: Configure MetaTrader to be used by MetaConnector
Next, upon completion of installing MetaConnector, go ahead and start your MT4 or MT5 application. Under settings, ensure Expert Advisors (EAs) are active. This opens doors for MetaConnector to run automatic trades directly triggered by TradingView alerts.
Step 3: Get Your Webhook URL
MetaConnector gives you a webhook URL that TradingView alerts can use to talk back to MetaTrader. Make a copy of this URL because you will use it in step 5.
Step 4: Setting Alerts on TradingView
Open up TradingView in order to create a new alert. The next step will be to set up the conditions: indicator, or price level that you wish to react on. Under notifications, choose Webhook URL and paste in the URL given by MetaConnector.
Step 5: Parameterize Your Trade
Trade parameters which can be defined through TradeView alerts will include:
This ensures that your trades are executed according to your pre-set strategy without any manual interference.
Step 6: Test the Connection
Prior to executing live trades, test the connection by sending a TradingView alert. See if the trade is correctly placed on MT4/MT5 through MetaConnector. If the test is successful, you are ready to automate your trading.
MetaConnector operates by receiving TradingView webhook alerts and promptly converting them into direct trading orders in the MT4/MT5. Whenever an alert in TradingView is triggered for whatever reason, a signal is sent to MetaConnector, which then interprets the signal per predetermined parameters as a buy or sell order. Trades are executed faster, which prevents much fluctuation in prices and gives you better results.
MetaConnector supports a variety of orders, such as market orders, pending orders, stop-loss and take-profit adjustments. This allows traders to automate their strategies without any programming knowledge, making trading easy and effective.
MetaConnector is a must-have for traders wishing to automate TradingView strategies on MT4 and MT5. By creating alerts in TradingView and linking them with MetaConnector, you can trade automatically without any manual interference. Whether you are a new or seasoned trader, this automated solution can enhance your trading accuracy and efficiency.