Averaging
- Indicators
- Version: 2.2
- Updated: 27 October 2022
- Activations: 8
The Averaging indicator is designed for traders who trade using averaging techniques or from time to time need to exit a floating loss resulting from erroneous trades by averaging trade results.
Averaging of results means closing trades by TakeProfit calculated by the indicator.
The indicator takes into account the volume of opened positions! When the number or volume of trades is increased or reduced, the TakeProfit level is automatically recalculated!
The recommended TakeProfit level is displayed in the table, and can be shown as a horizontal line on the symbol chart. The total result of trades is set in points in the indicator inputs and depends on what the trader needs: allowable loss, breakeven or profit.
The calculated TakeProfit is a recommendation to set the calculated value for all position! Placing the level for orders is possible when using the appropriate Averaging Script.
The indicator only works with market orders and makes calculations when there are at least two trades of the same character: bullish or bearish. It does not perform calculations when trades are counter directed!
The indicator provides additional information required for trading as shown in screenshots.
The indicator operation is demonstrated in the attached video. The TakeProfit level is shown as a blue horizontal line which is adjusted on the chart when new trades are opened.
Inputs
- Take Profit - the Take Profit level in points.
- Take Profit Line - showing the Take Profit line on the chart:
- true - yes.
- false - no.
- Take Profit Line Style
- Take Profit Line Width
- Take Profit Line Color
- Text Size - font size for the information text.
- Name Color - the color for the labels names.
- Data Color - the color for the values.
- Language - choose language for the displayed information:
- English.
- Russian.
