JOINT PURCHASES INDICATOR BALANCE CHANNEL

INDICATOR BALANCE CHANNEL

Visual Transaction Statistics Indicator Balance Channel

The main idea of using this indicator is to stop trading in time and prevent drawdowns by visually analyzing the historical statistics of trading on a given instrument.

The Balance Channel indicator shows a graph of changes in the dynamics of the account balance on closed trades, and also graphically displays the current result of open positions in the form of the last segment on the line.

The balance line is enclosed within the boundaries of the price range, the period of which can be set. This option can clearly show when the drawdown reaches a specified critical value.



Description of indicator parameters

• Period - Sets the price range period for the balance line similar to the PriceChannel indicator, only in this case for the balance curve.
• Calculate Type - Sets the mode of calculating the balance curve. If "in money" - the calculation is performed in the currency of the trading account on deals made with the account volume. If "in points" - the calculation is performed in points without taking into account the volume of deals as the difference between the opening and closing prices of the deal.
• Instrument - If "All" - for all instruments, if "Current" - for the instrument on the chart of which the indicator is set.Use Buy - If "true", deals in the Buy direction are taken into account. If "false", Buy trades are excluded from the calculation.
• Use Sell - If "true", trades in the Sell direction are taken into account. If "false", Sell trades are excluded from the calculation.
• ShowResults - If "true", the final results are displayed in the main chart window. Profit/Loss on open positions (OpenProfit), total losses (Losses), total profits (Profits). If "false", the totals are not displayed on the screen.