- Sergio D. Rocha
- Version: 1.10
- Updated: 22 November 2021
- Activations: 5
BreakEven shows the location of the average price level of the orders in the symbol, to which the indicator is attached.
This information allows you to find the break-even.
The indicator is helpful if you manage several positions, since it allows you to evaluate the performance of your open trades in a glance. If you trade a single order, it allows you to evaluate the effect of your stop loss and the profit or loss during the time your trade is open.
Apart from drawing a break-even level line (when instructed so in the parameters), the indicator can also show you in text (in the comment zone up in the price chart or in the indicator window) the profit or loss at the moment the orders were placed at the current symbol. If you have a stop loss placed, the indicator also shows you the potential profit or loss (if the broker fills them at the exact price).
The indicator changes the color of the chart when the price crosses the breakeven line (named AvgPrc), no matter if the crossing is performed within the same candle or if the crossing starts at one candle and is completed during the next candle.
Its configuration is really simple - you can choose to make the indicator show you the info in the comments zone (by selecting true) or in the indicator window. As this is an empty window, you can add there the indicator that you always use to save space. Just drag the necessary indicator from the Navigator and drop it over the BreakEven indicator window.
You can choose if the indicator must recalculate the values only if the price changes on the symbol or also if you touch some on the chart (this is helpful to save time when the market is slow).
You can also set the color of BreakEven chart and its background if the price crosses over the line and the background color during the non-crossing time.
At the last parameter, you can instruct to include all the orders (pending and open) or just those that are already open.