StopLevelCounter
This is a utility indicator that displays the profit/loss for a user-specified lot size at a draggable horizontal price level. It calculates and shows the potential profit for both buy and sell positions based on the distance between the current Bid/Ask and the user-placed stop level. It does not open, manage, or close any trades automatically.
Open the interactive view (equity curve, symbol switch)Key facts
Backtest results (H1, about 1 year)
Not backtested yet — this EA could not be converted automatically.
Strategy analysis
This program is essentially a utility tool rather than a trading strategy EA. Its core concept is to place a draggable horizontal line on the chart to simulate a stop-loss or take-profit level, then calculate the profit or loss in real-time if the position were closed at that level. Entry and exit conditions do not apply since the tool does not automatically execute any trades. For position sizing, the user can specify the lot size via the Lot input parameter, but the tool itself does not manage any positions. For money management, the tool calls the OrderCalcProfit function to calculate the potential profit for both buy and sell positions based on the current Bid/Ask prices and the stop level line, displaying the results in the account currency on the chart. Overall, this is a pure information display tool that helps traders visually assess the risk-reward ratio at different stop-loss or take-profit levels.
Strengths
- Intuitive visual profit/loss display — traders can drag the horizontal line to quickly evaluate profit at different price levels
- Simultaneously shows potential profit for both buy and sell directions, enabling convenient bidirectional analysis
- Uses a timer to update data every second, ensuring displayed information stays synchronized with the market in real-time
- Employs static variables to cache old values and avoid unnecessary chart redraws, improving performance efficiency
- Highly customizable interface with configurable colors, fonts, and positioning parameters for flexible user experience
Weaknesses
- No trading functionality at all — it serves only as an information display tool with a relatively limited feature set
- Depends on the external GetFontName.mqh include file; compilation will fail if this file is missing
- The horizontal line is initially placed at the current Bid price, and the user must manually drag it for practical use, lacking a smarter default placement
- Does not account for the impact of spread and commissions on actual profit/loss, so OrderCalcProfit calculations may deviate from real results
- OnTimer uses a 1-second interval and triggers the function even when there are no market changes, resulting in some resource waste
Possible improvements
- Add spread and commission display to make profit/loss calculations closer to actual trading results
- Add support for multiple horizontal lines, allowing users to simultaneously compare risk-reward ratios at different stop-loss or take-profit levels
Risk assessment
Overall risk: Safe
- This tool does not execute any trading operations, so there is no trading risk
- As a utility tool, its profit/loss calculation does not include spread and commissions, which may lead to estimation deviations
Evaluation scores
Parameters
| Parameter | Default | Description |
|---|---|---|
Lot | 1.0 | Lot size for profit/loss calculation |
LevelColor | clrBlue | Color of the horizontal stop loss line |
BuyColor | clrTeal | Color of buy profit text |
SellColor | clrRed | Color of sell profit text |
FontSize | 11 | Font size of displayed text |
FontType | Font14 | Font type of displayed text |
WhatCorner | CORNER_LEFT_UPPER | Chart anchor corner for text labels |
Y_ | 20 | Vertical offset of text labels (pixels) |
X_ | 5 | Horizontal offset of text labels (pixels) |
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Backtests are historical simulations and do not guarantee future results. Not financial advice.