Discussing the article: "Position Management: A Reusable Trade Journal with Live Maximum Adverse Excursion, Maximum Favorable Excursion, and R-Multiple Tracking in MQL5"
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Check out the new article: Position Management: A Reusable Trade Journal with Live Maximum Adverse Excursion, Maximum Favorable Excursion, and R-Multiple Tracking in MQL5.
This article presents CTradeJournal, a self-contained MQL5 class for live tracking of open positions at tick frequency. It maintains MAE, MFE, and initial risk in money, calculates the R-multiple when a position closes, and writes a complete CSV record. The text explains the design choices, provides the implementation, and shows simple EA integration so you can analyze entries, stop placement, and outcome distribution.
Most Expert Advisor developers evaluate performance from the MetaTrader 5 account history—profit, loss, and duration—and nothing more. Others log from history after the fact, reading closed deals from the terminal pool and writing summary rows to CSV. Both approaches share the same blind spot: they lose the information that exists only while the trade is open.
Maximum adverse excursion is the largest loss a position experienced at any point before closing. Maximum favorable excursion is the largest profit a position reached at any point before closing. These two numbers, measured tick by tick while the position is open, tell you things the final profit-and-loss figure cannot. A trade that closed at +2R but drew down -1.8R before recovering is a very different trade from one that moved immediately in your favor and never looked back. Both show the same result in account history. Only live tracking reveals the difference.
Author: Tola Moses Hector