Profit Loss Calculator for MetaTrader 4/5
Info
The Profit Loss Calculator for MetaTrader 4/5 is a Expert Advisor for MetaTrader 5 that this panel is an adaptation of the 'calculateprofit_ea' expert advisor, designed for profit/loss calculation and visualization of stop loss and take profit levels. Features:- Radio buttons to switch between buy and sell positions.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Profit Loss Calculator for MetaTrader 4/5
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
This panel is an adaptation of the 'calculateprofit_ea' expert advisor, designed for profit/loss calculation and visualization of stop loss and take profit levels.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: Quantora Break Even Manager MT5 - Automated Stop Loss Protection - another powerful expert for MetaTrader 5 traders.
This panel is an adaptation of the 'calculateprofit_ea' expert advisor, designed for profit/loss calculation and visualization of stop loss and take profit levels.Also recommended: Equity Guard - Daily Loss Limit Guardian with Panic Panel - similar expert with strong performance on MetaTrader 5.
Features:
- Radio buttons to switch between buy and sell positions.
- A reset button to initialize parameters: entry price at the chart window's center, buy position type, stop and profit levels at equal distances from the entry price.
- Input fields for entry price, lot, loss/profit in pips and deposit currency.
- Dynamic lines for entry, stop loss, and take profit.
Setup and Usage:
- Download files to the 'experts' folder or create a dedicated folder for better organization.
- When changing deal type, all parameters are automatically calculated.
- Inputting/adjusting lot value calculates profit and loss in monetary terms, with minimum and maximum values.
- Modify the entry point by moving the entry line, changing line properties, or adjusting the entry field. Loss and profit values update accordingly.
- Adjust stop loss or take profit by moving lines, changing line properties, or inputting values. The panel updates price, pips, and monetary values accordingly.
The panel is designed for the minimum and maximum prices in the chart window, setting maximum ranges for entry price, profit/loss in pips, and money. Minimum values are based on the symbol's stop level.
Invalid price inputs are ignored. Excessive inputs are capped at maximum values, while insufficient or negative inputs are set to minimum values.
The entry line is restricted between stop loss and take profit lines. Timeframe, symbol, or chart changes may require a reset. If lines are accidentally deleted, reinstall the expert advisor.
Additional Notes:
The cdoublespinedit class, derived from cspinedit, allows setting double values, direct value input, custom increments/decrements, and parameter adjustments via the setparameters method.
You may also like: Simple EMA Cross Expert Advisor with Stop Loss, Take Profit, and Magic Number - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#include "profitlosscalculator.mqh"
cprofitlosscalculator calculator;
int oninit() {
resetlasterror();
if ( !calculator.create(0, "profit loss calculator", 0, 20, 20, 366, 166) ) {
print("creating calculator failed. error #", getlasterror());.......
⚠ 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.