A free PineConnector alternative.TradingView alerts to MT5.
The short answer: the PFX Executor is a free MT5 Expert Advisor that places your TradingView alerts as orders, through a free hosted webhook relay. It reads PineConnector's alert format, so most alerts move across unchanged. PineConnector is a paid service with more years behind it and hosted MT5, so your computer can be off.
Both work.They suit different people.
PFX suits you if you want it free and you can keep MT5 running on your PC or a VPS.
PineConnector suits you if you want them to host MT5 for you, or you want a long-running paid service with its own support team.
PineConnector facts checked 4 Nov 2026
PFX Executor and PineConnector.The facts, side by side.
PineConnector's prices and plans are from its own website, checked . They can change, so check theirs before you decide.
| Compare | PFX Executor + relayFree | PineConnectorPaid |
|---|---|---|
| Price | Free. No plans, no paid tier | Core $59/month, Plus $129/month, Pro $199/month. Core trial: $7 for 7 days |
| Accounts | No plan limit. One Executor chart per symbol on each account | Core 3, Plus 10, Pro 25 connected MT5 accounts |
| Platform | MetaTrader 5 | MetaTrader 5 |
| Hosted MT5 | No. MT5 runs on your PC, your VPS or an MQL5 VPS | Yes, Edge: 1, 3 or 5 hosted MT5 by plan |
| Alert format | PFX JSON, plus PineConnector and TradersPost formats | PineConnector's own format |
| Checks | Five checks on every alert. A refused alert is logged with the reason | Logs and troubleshooting in its Portal |
| Routing | One alert to many accounts, each with its own size and symbol names | One alert to several accounts; symbol mapping is listed as a premium feature in their docs |
| Risk guards | Max lot cap; refuses stops that add risk, stops inside the spread and sizes it can't compute | Risk sizing in the alert (lots, amount or % of balance) |
| Extras | Optional news guard; public relay status page | Analytics, scheduled tasks, email and Telegram notifications (by plan) |
| Run it yourself | Yes: a free self-host relay kit, no account needed | Self-host MT5 and its EA on your PC or VPS; the service runs through their bridge |
| Track record | Newer. Built and run by one person | Since 2021. They report more than 200 million signals |
Sources: pineconnector.com (plans and pricing) · PineConnector docs · PineConnector FAQ. PFX facts: the Executor's MQL5 Market listing (version 6.01) and how the relay works.
Know these first.Before you switch.
- A paid TradingView plan is needed for webhooks. True for both tools.
- MT5 must be running for trades to be placed. Your PC, a VPS or an MQL5 VPS.
- MT5 only. No MetaTrader 4, no other platforms.
- Not every PineConnector command is supported. ATR settings, spread filters and EA on/off are refused with a reason, never changed quietly.
- It can't backtest your alerts. It reacts to alerts that arrive, not to chart bars.
No account? Run it yourself
FreeThe relay can run on your own PC or VPS, with no PrecisionFX account and your keys on your own machine. Follow the self-host guide.
Is the relay up?
PublicAlerts received, delivered and refused, and alert-to-ack timing, as totals only. See the relay status page.
Switch in three steps.Test on a demo first.
Connect MT5
Install the free PFX Executor, add your terminal and allow the connection. Nothing trades yet.
Send a test alert
Paste your new webhook address into one TradingView alert and follow it to a demo account.
Run it reliably
Learn the three stop levels, then keep MT5 running on a VPS.
Good to know.
Is the PFX Executor really free?
Yes. The Executor and the hosted relay are both free, with no plans and no paid tier. Donations are optional, by Ko-fi, and you get the same tools either way.
Do I have to rewrite my PineConnector alerts?
Usually not. The PFX relay reads PineConnector's alert format as it is. A few commands and settings are not supported, such as ATR settings, spread filters and EA on/off. Those alerts are refused with a reason in your log, never changed quietly.
Do I need a paid TradingView plan?
Yes, for either tool. TradingView only sends webhooks on its paid plans. That is TradingView's rule, not PrecisionFX's or PineConnector's.
Does my computer need to stay on?
With PFX, yes: MetaTrader 5 has to be running for the Executor to place trades. Use your PC, your own VPS or an MQL5 VPS. PineConnector's Edge plan can host MT5 for you instead, which PFX does not do.
Does it work with MetaTrader 4?
No. The PFX Executor is for MetaTrader 5 only.
Do I need a PrecisionFX account?
Only for the hosted relay. You can also run the relay yourself on your own PC or VPS, with no account at all. The self-host guide shows how.
Risk warning: Trading forex, CFDs and futures is high risk and most retail traders lose money. Nothing on this site is financial advice. Past results, including backtests, do not guarantee future results. Automated trading carries the same risk as manual trading, plus the risk of a missed or repeated signal. Your prop firm may restrict automation. Read the full risk disclosure. PineConnector is a trademark of its owner; PrecisionFX is not connected to or endorsed by PineConnector.