Gain/Loss Indicator for Candlestick Analysis
Info
The Gain/Loss Indicator for Candlestick Analysis is a Indicator for MetaTrader 4 that candlestick gain/loss analysis toolthis indicator displays the current gain and loss for all candlesticks that exceed a specified threshold. Values are calculated in both percentages and points.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Gain/Loss Indicator for Candlestick Analysis
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
Candlestick Gain/Loss Analysis ToolThis indicator displays the current gain and loss for all candlesticks that exceed a specified threshold.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: Range Filter Buy and Sell Indicator for MT4 with Signal Statistics - another powerful indicator for MetaTrader 4 traders.
Candlestick Gain/Loss Analysis ToolAlso recommended: Quantum Apex Color Indicator - similar indicator with strong performance on MetaTrader 4.
This indicator displays the current gain and loss for all candlesticks that exceed a specified threshold. Values are calculated in both percentages and points.
The indicator offers two modes for calculating gain/loss: a simple difference between open and close prices, or the difference between the current close and the previous close price. Users can define the minimum threshold (in points and percent), select the calculation mode, and customize the font color for displayed values.
Input Parameters:
percentagelimit
(default = 1.0) — Threshold for displaying changes in percentage points.
pipslimit
(default = 1000) — Threshold for displaying changes in broker points.
closetoclose
(default = true) — If true, the indicator compares the current close price with the previous close price. If false, it compares with the current open price.
displaylosscolor
(default = red) — Color for negative changes (losses).
displaygaincolor
(default = green) — Color for positive changes (gains).
displaydistance
(default = 100) — Distance in broker points from the maximum price of a candlestick to the displayed gain/loss value.
maxbars
(default = 100) — Maximum number of bars to process. Note that a higher value may lead to slower indicator performance.
Recommendations:
This indicator is not designed for generating trading signals. Its primary purpose is to simplify market analysis and aid in identifying specific bullish or bearish patterns. However, users may choose to interpret unusually large changes as potential signals for opening or closing positions.
This tool is suitable for analysis in 2026.
You may also like: Mistral Trend Candles Indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
/*
shows percentage and pip gain/loss for a candle.
can calculate gain/loss compared either to the previous close or to the current open.
*/
#property indicator_chart_window
extern double percentagelimit=1.0; // will not display number if percentage gain/loss is below limit.
extern int pipslimit=1000; // will not display number if pips gain/loss is below limit.
extern bool closetoclose=true;.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.