Discussing the article: "The MQL5 Standard Library Explorer (Part 7): Interactive Position Labeling with CCanvas"

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Check out the new article: The MQL5 Standard Library Explorer (Part 7): Interactive Position Labeling with CCanvas.

In this article, we explore how to build a position information visualization tool using the MQL5 Standard Library’s CCanvas. This project strengthens your skills in working with library modules while providing traders with a practical tool to visualize and interact with open positions directly on a live chart. Join the discussion to learn more.

In MetaTrader 5, positions are most commonly managed from the Trade tab in the Toolbox window. As the number of open positions and pending orders grows, this list-based approach can quickly become cluttered and less intuitive. More importantly, critical contextual information—such as surrounding market structure and price behavior at the time of entry—remains visually disconnected from the position itself.

While MetaTrader 5 already provides some basic on-chart position management features, these are limited in scope. You can see entry levels, order type, lot size, and order price directly on the chart, as illustrated in the diagram below.

Fig. 1. Default position management on the chart

In Fig. 1, the chart displays the position’s entry level along with its type and volume, while price continues to update on the right axis in real time. However, one essential element is missing: clear, dynamic profit and loss visualization at the position level. In addition, the default on-chart elements offer little flexibility in terms of styling and provide no direct, intuitive way to quickly close a position from the chart itself. Although closing trades is possible through the right mouse button click menu and the Trade tab, our focus here is on maximizing what the chart alone can offer.

Author: Clemence Benjamin