Breakeven Line Indicator for MT5
This tool for MetaTrader 5 is specifically engineered to streamline your trading operations. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Breakeven Line Indicator for MT5
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.
Description & Settings
Breakeven Line Indicator
is a MetaTrader indicator that calculates breakeven level based on all open positions and displays it on your chart as a horizontal line. Additionally, it will calculate the total number trades, the total number of lots, and the distance to the breakeven line in points and profit/loss. The indicator is available for both MT4 and MT5.
You can press the Shift + B keyboard shortcut to hide or show the breakeven line. The indicator supports multiple input parameters to configure the calculations and the looks.
Input parameters
IgnoreLong
(default = false) — if true, the indicator will ignore long positions and will only calculate the breakeven line based on short positions.
IgnoreShort
(default = false) — if true, the indicator will ignore short positions and will only calculate the breakeven line based on long positions.
line_color_buy
(default = clrTeal) — the color for the breakeven line when the total cumulative position is long.
line_color_sell
(default = clrPink) — the color for the breakeven line when the total cumulative position is short.
line_color_neutral
(default = clrSlateGray) — the color for the breakeven line when the total cumulative position is neutral.
line_style
(default = STYLE_SOLID) — the breakeven line style.
line_width
(default = 1) — the breakeven line width.
font_color
(default = clrSlateGray) — text color.
font_size
(default = 12) — text size.
font_face
(default = "Courier") — text font face.
ObjectPrefix
(default = "BEL") — the prefix for chart objects' names. It lets the indicator avoid conflicts with other chart tools.
