You can now download the Gain/Loss Info Indicator for free on AtoZ Markets indicators gallery.
Gain/Loss Info MetaTrader indicator displays the gains and losses for all candles where the given threshold is surpassed. The values are calculated in percentage points and pips. The indicator can calculate gain/loss in two modes: plain candlestick Close and Open difference, and as difference between current Close and previous Close. A trader may set minimum limits (for pips and percentage), change modes and control font color of the output numbers. The indicator is available for both MT4 and MT5.
PercentageLimit (default = 1.0) — minimum threshold for the change to be displayed; in percentage points.
PipsLimit (default = 1000) — minimum threshold for the change to be displayed; in broker’s pips.
CloseToClose (default = true) — if true, the indicator will compare current Close to previous Close; if false, it will compare current Close to current Open.
DisplayLossColor (default = Red) — color of the negative price change display.
DisplayGainColor (default = Green) — color of the positive price change display.
DisplayDistance (default = 100) — distance from bar’s High to displayed gain/loss value; in broker’s pips.
MaxBars (default = 100) — maximum number of bars to calculate the indicator on. The higher is the number the more laggy indicator becomes.
How to trade with Gain/Loss Info Indicator
The chart above shows the example usage of the Gain/Loss Info indicator on EUR/USD W1 timeframe. The percentage limit was set to 1.0% and pips limit was set to 2,500 pips. The calculation mode was set to “Close vs. previous Close.” Pips count for period is displayed below candles. Percentage change — above candles.
Obviously, it is nearly impossible to use this indicator to generate trading signals. Its main purpose is to simplify the analysis of the market situation and to make it easier to find some bullish and bearish patterns. Of course, one can still use the data about abnormally big changes as some sort of entry or exit signals.
How to download and install an indicator
In order to install the indicator on your MT4 or MT5 platform, you need to follow these steps:
- Click on the “Download Indicator” button located at the bottom of the screen.
- Save the file to your computer.
- Extract and move the files into the MT5>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select the “Gain/Loss Info Indicator” template to apply it on the chart.
Note: This indicator was developed by a third party. AtoZ Markets does not carry any copyrights over this trading tool.