Discuss Breakeven Line (an indicator that detects and displays a breakeven price for multiple trades) for MT4 and MT5 in this thread. You can ask any questions about this indicator here.
That's right. It calculates cumulative volume, which is net short in your case, and displays the breakeven line accordingly.
I have been looking for something like this for months. May I suggest a little improvement? You may add a new option: draw breakeven line (yes/no) and plot a line where the breakeven is located in the chart.
I want to take this chance to report an issue. When the account is NETTING, the N is not changing. It's always showing N = 1 even if you open different trades.
Another improvement could be to use ASK/BID line correctly. For Long positions, the breakeven should be the BID Price. For Short positions the breakeven should be the ASK line.
I want to take this chance to report an issue. When the account is NETTING, the N is not changing. It's always showing N = 1 even if you open different trades.
Another improvement could be to use ASK/BID line correctly. For Long positions, the breakeven should be the BID Price. For Short positions the breakeven should be the ASK line.
You can hide the line by changing its color to None via the input parameters.
Different trades on the same symbol in a Netting account? How does that work?
Not sure what you mean here... The BE line is always drawn at a specific price level. It has nothing to do with the Bid or Ask price. What matters is that it is the Bid price that has to reach the BE price for a net Buy to become 0 profit, and that it is the Ask price that has to reach the BE price for the net Sell to become 0 profit.
When you are in a Netting Account, it's important to know where exactly is your "average price". There is a code for mql4 (https://www.mql5.com/en/code/12037) that could be integrated to your code.
Using this breakline, for me the live is dynamic showing the currenct price with a legend at the top of line showing how many pips to breakeven. But a fixed line showing the exactly point of breakeven is very useful.
When using hedge account you have calculate the net result of multiples positions, but in netting account, you have to calculate the result of orders.
If you are short and buy a lot above your average price, you will be making your price worse and some platforms show the average price as the average of executed orders.
Using this breakline, for me the live is dynamic showing the currenct price with a legend at the top of line showing how many pips to breakeven. But a fixed line showing the exactly point of breakeven is very useful.
When using hedge account you have calculate the net result of multiples positions, but in netting account, you have to calculate the result of orders.
If you are short and buy a lot above your average price, you will be making your price worse and some platforms show the average price as the average of executed orders.
Sorry, but I still don't understand what you are trying to achieve. Could you please use some screenshots to point out the issue with how it's done right now and show (by editing the screenshot in some graphic editor) how you believe it should be done?
On Netting account the breakeven line is following the current price and is always showing N = 1.
Would be nice to see the breakeven line considering the pending orders too.
Thanks for the suggestions! I will consider implementing this in the future versions, but currently I'm not sure if that's worthwhile.
I think adding a feature to this indicator would be perfect: adding a liquidation line, which means traders can see on the chart where the price will reach and their account will be liquidated. Of course, due to different regulations of different brokerage platforms, the margin ratio for account liquidation varies, such as 10% for some and 0% for others. Therefore, this ratio can be included in the parameter settings for traders to set themselves.
I hope this suggestion can be adopted, as I believe most traders have such a need. thank you.
I hope this suggestion can be adopted, as I believe most traders have such a need. thank you.
Thank you for your reply!
I personally think that adding this feature to the "Breakeven Line" metric may be better
It completely ignores pending orders. It even ignores SL/TP on open positions. Starting taking all those into account can get quite complicated as you'd have to take into account various different paths the price may take to reach some other point. This would all affect the breakeven line calculation.
Understood, then make it a separate indicator. Set the liquidation ratio in the parameters, select to calculate outstanding orders or all orders (including pending orders), and consider the existence of multiple and empty orders simultaneously, so it is necessary to calculate cumulative orders. thank you.
You are in profit on two currency pairs combined: AUDUSD + EURUSD. The Breakeven Line indicator can only calculate and show a breakeven line for a single pair. It ignores trades in other pairs.
Is there a development plan for the explosion line indicator mentioned last time? I am looking forward to your new indicators, thank you.
