order balance control
Info
The order balance control is a Indicator for MetaTrader 4 that this simple indicator calculates the total lots of open buy and sell positions, as well as pending stop and limit orders for the current instrument (current chart). it is useful when you have multiple positions/orders and manually summing up all volumes is inconvenient.
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 order balance control
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
this simple indicator calculates the total lots of open buy and sell positions, as well as pending stop and limit orders for the current instrument (current chart).
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: order tracing for mt4/mt5 - another powerful indicator for MetaTrader 4 traders.
this simple indicator calculates the total lots of open buy and sell positions, as well as pending stop and limit orders for the current instrument (current chart).Also recommended: source code for multiple orders - similar indicator with strong performance on MetaTrader 4.
it is useful when you have multiple positions/orders and manually summing up all volumes is inconvenient.
the indicator is helpful when you need to balance buy-sell volumes or change the buy-sell position balance. it is essential for strategies using counter positions.
update:
- the new version displays information in the top right corner to avoid interfering with trading levels and the chart.
- for ease of reading, micro lots can be displayed as whole numbers.
- you can change the text color.
You may also like: informer: risk and order management indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property indicator_chart_window
#property indicator_buffers 0
#property indicator_color1 red
extern int lot_multiplier=100;
int init()
{
}
int start()
{.......
⚠ 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.