MT4 indicator (FXRM_Open_Trade_Pip_History.ex4)



Forex MT4 indicator FXRM_Open_Trade_Pip_History Download indicator: FXRM_Open_Trade_Pip_History.ex4

How to use FXRM_Open_Trade_Pip_History



The purpose of the indicator is to keep record of both positive and negative pip history of an open trade, so that later it's possible to review the questionable moments of: a) stops being hit when the price wasn't near and b) profits not taken while the price has visually crossed the profit line.

These are the questions that more often than not make traders at most furious, or at least suspicious about the fairness of their brokers. In reality though, what often causes troubles is a sudden widening of a spread, which can affect trading results.

On the screenshot below a red arrow indicates where a Sell trade was open.

At first a trade went to a negative territory (the indicator draws purple bars), as we has to cover the spread cost. Then the pips started to accumulate (the indicator registers positive performance with the blue bars).

It all went well, until price almost returned to our entry point (the first red circle).
Then the same happened 2 more times later (2 other red circles). Let's zoom them in:

Simply put, should our stop loss at that point be at break even, it would've been hit & the trade would've been closed leaving us wondering why...
Thanks to FXRM_Open_Trade_Pip_History we know what happened behind the scenes.

The indicator has one limitation though – it can track only 1 open trade per chart.




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Comments


The cosde for this indicator seem to be corrupt can I get a compiled one for downloading please...looks like this for now;-

EX4�¬��|��Copyright © 2008, Benjamin R. Cook dba FX Robot Man���������������������

 

Don't worry, it works.

use Right click + Save link as.. or Save target as..
to download the file to your MT4 platform into Experts/Indicators folder.

I'll run without problems, just verified.
(I don't have the .mq4 file, only .ex4, sorry)