Study Alerts are signals generated when a study-based condition is fulfilled. You can use both pre-defined and custom studies whose values will be analyzed to issue the alert.
How to Find It:
1. Click the MarketWatch tab and choose Alerts from the sub-tab row.
2. Choose the symbol to issue alerts for.
3. Click the Study Alert button. The Study Alerts window will appear.
Now you are ready to set alert rules. If you prefer to use a pre-defined (or previously created) study for that purpose, choose a desirable one from the Study list. The interface allows you to specify the study plot whose values will be analyzed, input parameters, and aggregation period. For numerical plots, you can choose triggering direction relative to threshold value. For boolean plots, you can specify whether to issue the alert when the value is true or false. Note that Look and Feel inputs (e.g. colors, painting strategies, etc.) are NOT available in "Study Alerts"; constant plots are not included in the Plots list.
However, you are not restricted to using a single pre-defined study to generate alert signals. You can also use a combination of studies or implement a new one right away. For that purpose, choose Complex Formula from the Trigger Type list. The thinkScript® editor will appear.
Consider the following script:
close > expaverage(close, 60) and ADX(length = 14) > 18
This condition is used in the Volume Zone Oscillator study; it checks whether the price is above the 60 period EMA and 14 period ADX value is higher than 18, which could possibly mean that the market is in strong uptrend. If you would like to be notified when this condition fulfills, choose TRUE from the Trigger If list. If you however prefer to place the order when the condition is not satisfied, choose FALSE.
Once you have set the rules for the alert, click Create Alert in the lower right corner of the window.
In Study Alerts, you can use either a regular study or an expression. Here is a list of thinkScript® usage specifics when applied to Study Alerts: