Money-Meter trading indicator for MT4 and MT5
Money-Meter trading indicator - is an informational tool that plots value levels on the chart, which displays the amount of money that will be lost or added to the account if you open a position with a specified lot from the zero level.
The Money-Meter trading indicator is made in two versions - for MT4 and MT5 terminals.
Parameters of the Money-Meter indicator
By default, the Money-Meter indicator starts counting from the current price, but if you enter a price in the zero_price parameter, it will count from this price.
- grid_step_value - grid step in the deposit currency;
- lot_size - working lot for the virtual position;
- lot_divider - correction for lot (divides volume by this number), designed for brokers with non-standard contracts;
- total_levels - how many levels up and down to draw;
- zero_price - the price that will be used as the zero level;
- progression - a type of progression;
- multiplicator - multiplicator for progression;
- lines_color - the color of the grid lines;
- lines_width - the thickness of the grid lines;
- lines_style - the style of the grid lines;
- lines_prices - displays the prices of the grid levels on the price scale;
- text_shift_bars - shift text captions left/right by the number of bars.
Pay attention to the progression parameter. By default, the Money-Meter indicator counts profit/loss for one position of a given volume, and the progression allows you to estimate the sum of profits/losses. If you make consecutive fills at each grid level, it helps to quickly estimate the total depth of drawdown for a series of averaging positions or the total profit for pyramiding.
Types of progression:
- pope - no progressions;
- equal - positions of equal volume;
- linear - the volumes grow linearly as a natural series;
- fibo - volumes grow by Fibonacci numbers;
- martin - geometric progression with multiplicator.
Money-Meter trading indicator is as simple as it is effective. It is a convenient and reliable tool for assessing open positions and observing the rules of money management.
Download Money-Meter trading indicator for MT4 and MT5
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