Balance and equity indicator mt4. Forex indicators and dashboards for mt4. Setting up the balance indicator

From time to time, every forex trader needs a detailed study of his own trading results. Unfortunately, the standard MetaTrader4 functionality only allows you to build a generalized statement, the information of which is not enough for an objective assessment of the profit / loss received, so the programmers created a special Equity indicator.

First of all, let's figure out how this indicator is superior to a regular report, the document of which can be saved in several formats:

1. It plots balance and equity charts in real time, i.e. information is updated automatically.
2. In the usual statement, the results are grouped immediately by a set of operations, i.e. the line of funds represents the balance of all transactions, and the Equity indicator allows you to study the dynamics of the account in the context of tickers, which significantly increases the information content of the report.
3. With this simple Expert Advisor, you can split the trading results separately by buy and sell, which is impossible to achieve with the built-in MT4 functions.

The Equity v.7 indicator in Meta Trader 4 is installed in a standard way, like many others, and you can download it here:

Equity indicator setting

Despite the fact that this Expert Advisor is not intended for analyzing the current market situation, it is installed according to the standard scheme, i.e. first, it is copied to the corresponding directory of the terminal, after which it clings to the price chart.

Here I would like to note that it is better to immediately attach the Equity algorithm to the asset, the financial result of which will represent greatest interest, since in this case it will take less time to set up.

So, the first function in the list of variables is called Only_Trade. If the value is set to “false”, the EA will display the dynamics of the balance “as is”, i.e. in addition to the result from transactions, it will show all the replenishment of the deposit and the facts of withdrawal of funds.

The next variable "Only_Current" is designed to configure the Expert Advisor so that it shows profit / loss strictly for the asset on the chart of which it is set.

Above, I have already emphasized such nuances when I recommended attaching Equity v.7 to the asset for which the most transactions were concluded.

If there is an urgent need to study the results of trading with a certain asset in the window of another instrument (for example, the Equity indicator is set on the EURUSD pair, and we need to calculate the profits and losses received from oil operations), you will need to perform the following actions:

• Opposite the Only_Current function, select "false"
• In the Only_Symbols field, manually write the ticker of the instrument to be analyzed.

The following two functions (Only_Buys and Only_Sells) allow you to estimate profit and loss in terms of purchases and sales, in particular, the following combinations are possible here:

• If both variables are set to “false”, the EA will draw a common Equity line;
• If Only_Buys = true, and Only_Sells = false, the fixed result will be shown only for long positions;
• If Only_Buys = false, and Only_Sells = true, the EA will display the profit / loss received from sales;
• If Only_Buys = true and Only_Sells = true, the indicator will trigger by mistake, so this situation should be avoided.

From the example presented above, it can be seen that the main income was received mainly from short positions (i.e. following the trend in time with the price movement). Therefore, it is advisable to supplement the system with auxiliary tools that will increase the accuracy in assessing the trend.

The next function Show_Balance is designed to enable / disable the balance line. For example, if you set the value “false” next to this variable, the Equity indicator markup will look like this.

The Show_Margin and Show_Free variables do not work well, so trying to set them up is a waste of time. Initially, the variables mentioned were intended to display the margin and free funds.

And the last toggle function is called Show_Info. As you might guess, it is used to display an information board, which collects information about the values ​​of the maximum and absolute drawdowns.

Besides, in the Equity algorithm settings you can set the drawdown level, after reaching which, the terminal will emit a sound signal.

For mid-term and long-term users, this function is unnecessary, since with such a style of work, the score changes smoothly and slowly (there is time to track the dynamics). For aggressive scalpers and algorithmic traders (trading with robots), this variable can be useful.

Thus, the Equity indicator not only shows the results of trades in a visual form, it also helps to identify the strengths and weaknesses of the system used.

Many modern terminals have added special modules designed to analyze the dynamics of the balance and funds on the account. Unfortunately, the MT4 terminal is outdated in this regard, but the balance indicator can easily compensate for such shortcomings.

First of all, let's figure out why it is needed at all, because every trader himself knows perfectly well what is happening in his account, and if it is necessary to evaluate historical data, you can always build a statement and export the data to Excel, and then study it in any available statistical way.

Of course, if only one trading account is being considered, you can go this primitive way, but if you want to study the situation on several accounts, you will have to spend a lot of time organizing and analyzing the information.

Why pay so much attention to the balance chart? There are enough reasons, in fact, ranging from the analysis of their own trading accounts on which robots trade, and ending with the study of the situation on the accounts of traders offering trust management services (in this case the investor gets access to the history of transactions using the investor password).

Equity.mq4 - the best balance indicator to date

The balance indicator is not as easy to find today as it might seem at first glance. The fact is that many algorithms that are freely available are either completely useless, or work with errors (they do not calculate equity correctly), or stopped working altogether after updating MT4 to a 600 build.

The last problem was not spared either by the Equity algorithm created on the MQL4 portal in 2007 (written by its user under the nickname "surgeon"), but the programmers quickly fixed the errors that appeared during compilation, and today it can be downloaded under the name "equity_v7_mod". The Expert Advisor looks like this:

The seventh version did not appear immediately, but about a year after the first developments. It took into account all the wishes of users and corrected some shortcomings (unfortunately, not all), so we do not recommend trying to revive earlier versions - they definitely will not be able to find any hidden advantages.

Setting up the balance indicator

In the settings window, the first variable is called Only_Trade and is intended to display only the trading results, i.e. if you enable the value "true", the indicator will display on the chart the net result from trading for the selected period, and not the dynamics of the balance.

We recommend that you always enable this option. If you leave the value "false", then not only will the result be distorted due to withdrawals and replenishments, you will also need to download the entire history of transactions, and many brokers, as you know, archive and compress this data. Plus, if you work only with the result graph, you can select any period in the account history (last day, week, month, etc.).

The result of trading on the account looks good, but judging by the discrepancy between the balance chart and equity, the work is carried out without stops (which is not always bad, because much still depends on the strategy). In this way, in one action, you can easily assess the style of a trader or an advisor using an investment password, without studying hundreds of transactions from the report.

If you enable the variables Only_Buys and Only_Sells, then the balance indicator will show separately the result from sales and purchases, but here it should be borne in mind that two experts will have to be installed on the main window, one for tracking long positions, and one for short ones. Let's go back to our test case:

Obviously, in this case, the strategy is universal, and, apparently, trendy, since during periods strong growth prices, the total profit on long positions increases, and in case of an obvious bearish trend, short positions bring profit - this is a definite plus of the strategy.

Periods of drawdowns create confusion, in particular, for long positions, the loss was growing just before the trend reversal, i.e. there is an attempt to catch a reversal. If such situations are not uncommon, then it is better for the trader to insist on clarification whether this is really part of the strategy, or a consequence of mistakes. Please note that on a regular "state" such nuances are invisible, which creates fertile ground for manipulation when advertising projects.

Also, the balance indicator can display data on drawdown and profit factor, for this you need to set the value "true" opposite the Show_Info variable. Here one fact should be noted - for the general history, the maximum drawdown is shown twice as much as the real value, and the profitability factor is half as much.

I would like to attribute this deviation to a feature of the algorithm, they say, some special non-standard assessment of profitability is used, but since the drawdown should always be the same value, an error clearly crept into the code, especially when importing not the entire history, but only a certain period, the result computation converges with the standard report from the terminal.

What other possibilities does the balance indicator have?

We have listed the most popular settings above, but equity_v7_mod functionality is much broader. For users who prefer robot trading to manual speculations, the Only_Magics variable will be useful, with which you can set the magic number of orders with which a particular Expert Advisor works.

Checked - the balance indicator "pulls" these orders from the general history, and ignores the rest when calculating equity. Thus, it is possible to work with several advisors on one account, i.e. now it is not necessary for the purity of the experiment to allocate a separate account for each robot.

The same applies to the Only_Symbols variable, with which you can set the ticker of a trading instrument for analysis. If you score, for example, EURUSD in the corresponding field, the indicator will show the result only for the EUR / USD pair. Please note that it is necessary to accurately copy the name of the instrument from the terminal, i.e. if there is a "#" sign in front of the ticker (#USDX, for example), it will also have to be specified in the field.

A similar function is performed by the Only_Current setting, if you select the value “true” opposite its name, the volume indicator will display the total result for the totality of deals for the instrument on the chart of which it is installed.

Let's repeat once again - using Only_Symbols for analysis, you can select any instrument (for example, the indicator itself can be put on the gold chart, while allowing data import only for EUR / USD), and the Only_Current variable works only with orders specific to the current chart. Which option to use is up to the trader himself.

And the last "bonus" from the developers is a sound signal when a critical drawdown is reached. It is configured using the Alert_Drowdown variable, but here you should remember about the problem with displaying the true value of the drawdown, although if the Expert Advisor overestimates it in case of an error, then it will definitely not get any worse.

Concluding the review, let us recall one more feature of such indicators - after installing it on the working window, it is recommended to update the chart, for example, if the equity chart is built on H1, set the algorithm to the clock, then switch to any other timeframe and return H1 back. After this operation, the result will definitely be correct. A source:

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It is an oscillator that shows the ability of bulls and bears in the Forex currency market to reach new maximum price values.

The indicator readings fluctuate between the extremum levels -1 and +1. For each individual period, they are calculated using the following formula: (Close - Open) / (High - Low). After calculation, the readings can be smoothed using any.

One of the most important properties of the Balance of Power indicator is the levels at which it forms tops and bottoms. During time, these peaks quite often approach the upper limit, but at the same time they never touch it. In a bear market, you can observe a mirror situation. If the indicator changes the trend, you need to pay attention to the direction of the price.

To the merits forex indicator Balance of Power can be attributed to a reliable determination of the presence of a trend and its strength, since the trend usually does not end the moment the indicator does not cross the zero line. Of the relative disadvantages, it can be noted that in any case, it is necessary to confirm the change in the trend on the price chart.

Other Popular Forex Oscillators

Modern currency market Forex opens up a lot of prospects for traders, allowing them to earn a decent fortune. However, due to inexperience, newcomers who come to the market with great ambitions, enchantingly drain their deposits and move away from currency trading, loudly scolding forex and calling it a fraud. Many of them in their trading practice do not even use indicators that allow them to successfully analyze a currency pair and make an accurate forecast. We offer indicatorMitBalance, which, if used correctly, can significantly increase your deposit and bring profit in 9 out of 10 transactions. In this article, we will consider the indicator itself, as well as get acquainted with the rules of trading by its signals in practice.

Watch the video review of the Meat Balance indicator

Indicator Description

Mit Balance was written for the MetaTraider 4 terminal used by many traders. In addition to the indicator in the .ex4 format, the archive contains two text files with information on its use.

The Mit Balance indicator analyzes the market, highlighting the levels to which the price tends during the trading interval. Additionally, he calculates the optimal levels for entering the market, using the principles of the Gann theory. The tool is perfect for both an intraday strategy (TF from M1) and for opening long orders on large timeframes (TF up to H4). The authors recommend using the H1 timeframe for trading.

By installing the indicator in the trading platform according to the standard procedure and applying it to the selected currency instrument, price movement levels are immediately formed (Fig. 1). In order not to risk and not open trades right away, it is recommended to get acquainted with the history of signals from the indicator (as a rule, they will also be displayed on the chart). Only after studying the principle of the indicator in detail, it will be possible to proceed to the subsequent profitable trading, based on a thorough analysis of the price.

Setting up the Mit Balance indicator

The correctness of the generated signals will be achieved only when the correct values ​​are set for the parameters (Fig. 2):

• History - the number of bars used in the analysis;
• TP Offset Percentage - used in complex analysis using other indicators from the MIT System;
• Opening time of a daily candle - indicates the start time of quotation of the analyzed financial instrument;
• Extend level - whether to display the balance level until it is reached by the price (ON - yes, OFF - no);
• Show entry levels - whether to calculate the preferred entry levels and channel boundaries (ON - yes, OFF - no);
• Statistics offset - the number of pixels of the offset of the statistical data display from the upper border of the window;
• The options in the Colors category define the coloration of levels, zones, and text.

Trading with the Mit Balance indicator

A trading instrument that takes into account all intraday price movements, as well as past growth and fall dynamics. In this case, the zones of local minimums and maximums are also taken into account and forecasts are formed on the basis of these data. At a certain period, when the most favorable conditions for entering the market arise, the indicator on the chart forms a channel, which is a signal to the trader to open a certain deal.

When opening short orders on low timeframes, it is extremely important to constantly monitor the price movement, since the channel can close very quickly, and the price can turn around and move in the opposite direction. Most often, such sharp fluctuations do not occur on large timeframes, as a result, the indicator is much better suited for the H1 and H4 timeframes. It is advisable to additionally use a tool that allows you to identify the trend.

Every trading day, at the time specified in the "Opening time of the daily candle" parameter, the indicator calculates the levels of balance and optimal entries to the market. The trader places pending orders of the Limit type at the optimal entry levels, and Take-Profit at the balance level. At the end of the day, all failed orders (the price did not reach them) are deleted. They also become irrelevant when the price reaches the balance level (taking take profit is allowed only once).

For inexperienced traders, such a tool will allow you to make good money, since the entire analysis will be performed by the indicator itself. You just need to carefully monitor the upcoming signal appearance.

But do not forget that not all signals work out perfectly, sometimes there are extraneous noises that can be eliminated using auxiliary indicators such as Elliott waves or Bollinger lines. Also, the indicator can be used in conjunction with moving averages. In this situation, the number of losing trades will be minimized.

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Forex equity and balance indicators: Equity_v7.mq4

The indicator was created to obtain information about the current state of the account. You can get information about equity and balance on the account history. Open positions are also calculated in order to update the chart online. It is also possible to plot free funds and margin charts, but only using current values.

The indicator allows you to build charts in which only those orders are taken into account that correspond to the features important for the trader.

For example, you specify, as well as the instrument, and the indicator makes a cut from the history of only orders that are important for the analysis of equity and balance. Thus, you evaluate the work, for example, of several trading systems on one account and do it in a convenient format.

For clarity, it is possible to ignore the initial balance, as well as replenishment or withdrawal of funds. For this, there is the Only_Trade parameter. In this case, the history for any period is used, otherwise the whole history is needed. This mode is needed in order to evaluate the work for reporting period.

The indicator takes into account the existing equity drawdowns and determines the recovery factor, for this, the Show_Info parameter is used.

In order to analyze the equity and balance chart, you can use other programs. For this, the indicator has the File_Write parameter.

Download

Forex equity and balance indicators: i-BalEq.mq4

The indicator analyzes data from the history of the account balance on which the pair is installed on the chart. This indicator is great for analyzing other people's accounts by investment passwords, equity and balance. It is very similar to the previous one, but if it seemed to you that the one is less convenient, then this one is quite suitable for you.

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