FXG_Info is the most important information gathered in one place.
The FXG_Info indicator for MetaTrader 5 provides basic statistical information about a particular currency pair. Thus, in combination with the symbol price chart, it is very easy to determine whether the current market situation is suitable for trading operations. When opening a position, the indicator will show the current information – the levels of Stop Loss, Take Profit, etc. The indicator can be used on any financial instruments, as well as on any markets that your broker provides access to.
[spoiler title=”Read More…”]
The following information is displayed:
- Spread – the current and maximum spread for the current candle.
(average daily range) – the average value of the daily volatility of the pair for the last week. The volatility is calculated as the difference between the High and Low prices for the day. Thus, we know what kind of volatility can be expected for the current day, as well as the percentage of it that the price has already passed.
- Pip*0.1 lot – the value of 0.1 lot of the position in the number of points of the account’s deposit currency. In the parameters, you can set the position size (at least 0.1 lot).
- SL – if there is an open position, the Stop Loss value is displayed in the account deposit currency (you can disable it in the parameters) and in pips, including the commission of the ECN brokers. This information is necessary to check the position for compliance with the trading plan.
- TP – if there is an open position, the Take Profit value is displayed in the account’s deposit currency (you can disable it in the parameters) and in pips, including the commission of the ECN brokers. If SL is negative, RR (Risk Ratio) is also displayed here – the
ratio of TP to SL. The RR is required to check whether the trade operation matches the trading plan.
- Profit-if there is an open position, it shows the current profit value in the position in the account deposit currency (you can disable it in the parameters) and in pips, including the commission of ECN brokers.