MT4 Gain and Loss Indicator with Candle Change Thresholds
Summary
This document describes a MetaTrader indicator that marks candle price changes once they exceed configured minimum thresholds. It reports changes in points and percentage, and lets users choose between comparing a candle’s close with its open or comparing consecutive closing prices. Separate display colors distinguish gains from losses.
The settings include the percentage and point limits, the comparison mode, chart label appearance, and a cap on how many bars to calculate. The document says that increasing the bar limit can make the indicator slower. It provides configuration details but no trading rules, performance results, or evidence that threshold crossings predict future returns. The indicator is available for MT4 and MT5, so its figures are descriptive chart information rather than a tested strategy.
Key ideas
- The indicator displays candle changes in points and percentage when configured minimum limits are exceeded.
- Users can compare each candle’s close with its open or with the prior candle’s close.
- Gain and loss labels can use different colors and configurable fonts.
- Calculating more bars can increase indicator lag.
- The document gives no evidence that the displayed changes forecast profitable trades.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.