Gain/Loss Info MetaTrader indicator | FREE Forex Trading Indicator
Gain/Loss Info MetaTrader indicator shows the gains and losses for all candles where the specified threshold is exceeded The figures are expressed in percentage points and pips. Gain/loss can be calculated in two ways: as a simple candlestick Close and Open difference, or as a difference between the current Close and the previous Close. A trader can change modes, set minimum limits (for pips and percentages), and change the font colour of the output numbers. The indicator is compatible with both MT4 and MT5.
- PercentageLimit (default = 1.0) — minimum threshold for the change to be displayed; in percentage points.
- PipsLimit (default = 1000) — minimum threshold for the change to be displayed; in broker’s pips.
- CloseToClose (default = true) — if true, the indicator will compare current Close to previous Close; if false, it will compare current Close to current Open.
- DisplayLossColor (default = Red) — color of the negative price change display.
- DisplayGainColor (default = Green) — color of the positive price change display.
- DisplayDistance (default = 100) — distance from bar’s High to displayed gain/loss value; in broker’s pips.
- MaxBars (default = 100) — maximum number of bars to calculate the indicator on. The higher is the number the more laggy indicator becomes.
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The chart above shows the example usage of the Gain/Loss Info indicator on GBP/USD @ W1. The percentage limit was set to 1.0% and pips limit was set to 2,500 pips. The calculation mode was set to “Close vs. previous Close.” Pips count for period is displayed below candles. Percentage change — above candles.
Obviously, it is nearly impossible to use this indicator to generate trading signals. Its main purpose is to simplify the analysis of the market situation and to make it easier to find some bullish and bearish patterns. Of course, one can still use the data about abnormally big changes as some sort of entry or exit signals.
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