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Measuring Candle Gains and Losses in MT4

Article MQL5 code base
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Summary

This MT4 indicator displays the gain or loss for each candle that passes a user-defined change threshold. It offers two calculation modes: the difference between a candle’s close and open, or the difference between the current close and the previous close. Results are shown in points and as a percentage.

Users can set minimum movement limits in pips or percentage and choose the display font color. The description explains the indicator’s configurable calculations and presentation, but provides no trading rules, chart examples, accuracy assessment, or evidence of improved performance. Its output is a descriptive measure of candle movement; interpretation depends on the chosen mode and threshold, and the document does not explain how to account for spread, execution costs, or instrument-specific point values.

Key ideas

  • The indicator reports candle gains and losses when movement exceeds a selected threshold.
  • It can compare the candle close with its open or with the previous close.
  • Values are displayed in points and percentage.
  • Users can configure minimum movement limits and output color.
  • The document provides no evidence that the indicator produces trading profits.

Tags

Technical indicatorsForex

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.