Introduction to Open Positions Indicator

Traders should be constantly aware of their profits and losses. Trades that are well managed by traders who are always aware of their trade positions, and their profit or loss, are more likely to be successful. Open Positions Indicator can be used to help traders keep track of their trade positions.

What's the Open Positions Indicator (or )?

Open Positions Indicator provides information to traders about their open trades on a price chart. This indicator shows the currency symbol, the profit/loss in points or pips, and the number of lots that were opened. This indicator displays these information in a separate window that is overlayed on another indicator's.

Below is the chart showing the Open Positions Indicator overlayed on the Moving Average Convergence & Divergence (MACD window).

How does the Open Positions Indicator Work?

Open Positions Indicator uses an algorithm to retrieve information from brokers feeds about open trades. The indicator displays the profit and loss in pips as well as the symbol of the currency pair.

How to Use the Open Positions Indicator in MT4

Users must attach an additional indicator to the Open Positions Indicator. This indicator should be visible in the indicator window. The MACD was used in the above example. The MACD is the most common type of oscillator indicator. These types of indicators usually have their own indicator window.

Next, attach the Open Positions Indicator to the indicator window for the other indicator. This is usually done by dragging and dropping the Open Positions Indicator into the Navigator window in MT4.

The Open Positions Indicator offers traders many options in its indicator settings that can be used to alter its visual display.

You can change the currency symbol's color by using the "Symbols" option.

You can choose to display units in points or in pips with the "p_as_Points” option.

"Pips_or_Points", allows users to change color of profit or loss in points, pips or points.

You can change the color of displayed units by using "Lots_Long", or "Lots_Short".

"Currency_Symbol", allows users to choose which currency symbol will be used to calculate the profits or losses.

You can change the color of the trade's profit or loss by using "Profit_Gain", and "Profit_Loss".

You can change the corner at which the information will be displayed by using the "corner" option.

"Line1_Distance_Y" and "X_Distance_Multiplier" allows users to adjust the display of the text on the x and y axis.

"Font_Size", allows you to adjust the text's size, and "Font_Face", allows you to choose the font that will be used.

Conclusion

This indicator does not provide technical analysis indicators. It provides a dashboard about the accounts profits or losses. This information can be useful for traders who prefer to see it on the price chart. This information can also be found under the Trade tab in the Terminal window of the MT4 platform.

Indicators - Download Instructions

Metatrader 4 (MT4) Indicator Open Positions For MT4 is a Metatrader4 (MT4) indicator. Its purpose is to transform the accumulated historical data.

The Open Positions Indicator (MT4) allows you to spot patterns and peculiarities in price dynamics that are not visible to the naked eye.

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How do you install the Open Positions Indicator in MT4.mq4

• Download the Open Positions Indicator (MT4.mq4)
• Copy the Open Positions indicator for MT4.mq4 and add it to your Metatrader directory / experts/ indicators.
• Metatrader 4 Client can be restarted or started
• Choose Chart and Timeframe to test your MT4 indicator
• You can search "Custom Indicators" using your Navigator, mostly left in your Metatrader4 Client
• Right click on the Open Positions Indicator to access MT4.mq4
• Attach a chart
• Change settings or click ok
• Your Chart contains the Indicator Open Positions indicator for MT4.mq4.

How do I remove the Open Positions Indicator from Metatrader Chart MT4.mq4?

• Select the Chart in which the Indicator is running in your Metatrader4 Client
• Right-click to open the Chart
• "Indicators list"
• Select the indicator and click delete

Open Positions Indiator for MT4 (Free download)

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