Line Helper is not a mere indicator, it's a trader's assistant to show breakeven lines, possible profit, average order price, volume and the direction of the majority of orders.
For whom the Line Helper indicator will be helpful? For the traders, who:
- Open and hold more than one order for the instrument
- Use averaging or Grid - Line Helper is designed for grid strategies
- Use locking and hedging
- Use a trading robot with a magic number, and trade manually at the same time
Unfortunately, the indicator operation cannot be evaluated in the strategy tester.
However, there is a free demo version of the indicator Line Helper DEMO. Download and test it.
Watch the video visualizing the features of the Line Helper.
What Line Helper can do:
1. LineProfit draws three breakeven lines:
- First line. The breakeven level for all BUY and SELL orders. It changes color depending on the total volume of orders. If you have more BUY orders, a blue thick line is drawn; if you have more SELL orders, a purple thick line is displayed. If the volumes of BUY and SELL orders is equal (lock), the thick line is gray.
- Second line. For BUY orders a blue thin line is drawn
- Third line. For SELL orders a purple thin line is drawn
2. Line Helper draws a line of the virtual TakeProfit/StopLoss - it's a brown line.
Drag and drop it, and the following information will appear in the top right corner of the screen:
- The number of points form the breakeven to the profit line
- Possible profit (in the deposit currency) if the price reaches the profit line.
- The total volume of BUY and SELL orders
- Shows the direction of orders and the volume
3. Line Helper can also work with orders opened by EAs and having unique Magic Number.
Enter Magic Number in the indicator settings for Line Helper to calculate and display the above information for the specified magic.
How to Use Line Helper:
In order to understand how the indicator works:
- Open a demo account.
- Open the chart of any symbol
- Start Line Helper
- Open a BUY or SELL trade (a breakeven line and a profit line will appear on the chart)
- Drag the profit line (brown) and information will appear in the top right corner of the screen
- Open one more trade after some time (the location of breakeven lines as well as the information will change)
2. Added Show_Line_Profit switch - display/hide potential profit line (TakeProfit or StopLoss).
3. Added the order filter. Now, you can select the orders, for which potential and current profits are calculated:
• For all orders
• Only for orders opened manually and having the magic number of 0
• Only for orders with a specified magic number