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Averaging Line

This indicator has been developed for those who use the averaging strartegy. The indicator easily shows the line (price), at which the profit equals to zero.

For example, suppose that there are two or more active SELL orders. After launching the Averaging Line, the blue line appears on the chart immediately. If the line is touched or broken through in the favorable direction (it is downwards for SELL orders), this means that the current total profit of all your SELL orders is equal to zero or has a positive value.

Thus, the indicator clearly shows a good place to set a take profit, after triggering which all similar orders are closed with a total positive result.

If a new order is placed, the indicator redraws the averaging line immediately.

The averaging line is calculated accurately even if orders have different lot sizes.

The indicator works with both four- and five-digit quotes, as well as on all symbols and timeframes.

The product has no settings.

Maksym Mudrakov
10410
2016.08.31 12:34 
 

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Version 1.1 - 2015.06.25
1. Important: added settings for selecting line colors.
2. A report is displayed in the upper right corner: total profit and one point profit of the current symbol in different positions. Text color can be selected in settings.