Creating Mountain and Iceberg Position Charts in MetaTrader 5
Summary
The article shows how to create mountain, iceberg, and colored line displays in MetaTrader 5 with a custom MQL5 indicator. It describes using price data in one indicator buffer and a second buffer to control filling or mark a threshold. In outline mode, a zero threshold produces a line display, while a nonzero threshold can divide the line by price level; fill mode creates a mountain area or an iceberg view around a selected waterline. Color differences are used to make a position’s profit or loss easier to read visually.
The implementation also changes chart display settings and restores them when the indicator is removed, and it updates only newly needed buffer values to reduce repeated work. The article presents diagrams, a settings table, and implementation excerpts, but the supplied text gives no quantitative evaluation of usability or trading outcomes. This is a visualization aid for position tracking, not a signal-generation or performance-tested strategy; interpreting profit or loss still depends on the selected reference price and position context.
Key ideas
- A custom indicator can use price and a threshold buffer to render mountain, iceberg, or line-style charts.
- Fill and outline modes, together with the chosen threshold, determine the displayed chart form.
- Coloring the chart around a reference level can make a position’s profitable and losing regions easier to inspect.
- The indicator is presented as a visualization technique, with no evidence that it improves trading results.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.