Open Positions Indicators for MetaTrader 4/5
Info
The Open Positions Indicators for MetaTrader 4/5 is a Indicator for MetaTrader 4 that indicators: - open position points - open position pips these indicators are simplified modifications of the iexposure indicator. Both indicators are identical in all functions except for their default return values.
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 Open Positions Indicators for MetaTrader 4/5
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
Indicators: - Open Position Points - Open Position Pips These indicators are simplified modifications of the iexposure indicator.
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: trend manager open2: enhancing trading efficiency - another powerful indicator for MetaTrader 4 traders.
Indicators: - Open Position Points - Open Position Pips These indicators are simplified modifications of the iexposure indicator. Both indicators are identical in all functions except for their default return values. One indicator is set to return [p] as pips, while the other returns [p] as points. The indicators can display either pips or points based on the true/false status of the [p_as_points] option. The MT4 terminal returns profit in points, term currency, or deposited currency. Points are consistent with the MT4 terminal, but users may prefer pips. The indicator must be placed in a secondary window, such as a MACD or Stochastics window. It will not display in the primary chart window. If you don't have a second window, attach blank.mq4 as a secondary window. Drag and drop the indicator onto the secondary window. The display will appear only when a trade is opened. To increase or decrease the width between columns, use the x_distance_multiplier option with small decimal increments. Too large an increment may shift the display off-screen. Example [p]=points: Profit-Loss [€] Lots - Long [10.00 l] German Bund & Short [-0.01 l] Dow-Industrial Points [p] Symbols [eubundmar12...] Example [p]=pips: Profit-Loss [£] Lots - All Positions Long [0.10 l] Pips [p] Symbols [eurusd...] To permanently change default options, edit the highlighted code. See the provided examples. //**** Start of default options extern color symbols = lightslategray; extern bool p_as_points = true; extern color pips_or_points = darkorange; extern color lots_long = lime; extern color lots_short = red; extern string currency_symbol = "£"; extern color prof_gain = lime; extern color prof_loss = red; ------------------------------------------ extern int corner = 1; //0 - top-left, 1 - top-right, 2 - bottom-left, 3 - bottom-right extern int line1_distance_y = 1; extern double x_distance_multiplier = 1.5; extern int font_size = 8; extern string font_face = "arial bold"; //**** End of default options Credits: Thanks to Daniel Kirstein for contributions: x_distance_multiplier and corner.Also recommended: Session Open V-Line Indicator - similar indicator with strong performance on MetaTrader 4.
You may also like: Session Open H-Line - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_chart_window
#property indicator_buffers 1
#property indicator_minimum 0.0
#property indicator_maximum 0.1
#define symbols_max 1024
#define deals 0
#define buy_lots 1
#define buy_price 2.......
⚠ 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.