Using a Breakeven Line to Monitor Open Positions in MetaTrader
Summary
This document describes a MetaTrader indicator that calculates a breakeven price from open positions and plots the result as a horizontal chart line. It also displays the number of trades, total lots, and the distance to breakeven in points and profit or loss. The indicator is described for both MT4 and MT5, and a keyboard shortcut toggles the line’s visibility.
Inputs let users exclude either long or short positions, configure line colors for net long, net short, or neutral exposure, and adjust line style, width, and text appearance. An object-name prefix helps avoid clashes with other chart tools. The document explains the indicator’s display and configuration options but gives no formula details, execution guidance, or evidence about trading performance. A plotted breakeven level summarizes current positions; it does not by itself account for costs or establish that a position will return to profitability.
Key ideas
- The indicator plots a breakeven price calculated from all open positions.
- It reports trade count, total lots, and distance from breakeven in points and profit or loss.
- Users can exclude long or short positions from the calculation.
- Line color reflects whether cumulative exposure is long, short, or neutral.
- Display settings include line style, width, font, and a prefix for chart object names.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.