Profit Statistics Indicator

Profit Statistics Indicator

Profit Statistics Indicator For MT4 displays the number of trades, profit, and loss of a previous and current day, Essential forex account monitoring tool

The profit statistics indicator for MT4 displays the number of trades closed for the current and previous trading day. Furthermore, it shows the value of profit or loss for the current and previous day in the account currency. This enables the forex traders to understand the winning and losing streak and the progress in trading.

The indicator plots the details on the comments corner of the chart. It is easy to understand and interpret for new and advanced forex traders. Traders can place the indicator on any chart time frame as it pulls the data without any regard of the time frame. The indicator is primarily an account monitoring tool and does not provide any bullish or bearish forex trading signals.

Profit Statistics Indicator For MT4 Trade Setup

The indicator plots the number of trades closed yesterday and today as blue. Additionally, it plots the profit of yesterday and profit of today as red. As mentioned earlier, this indicator does not provide trading signals.

The number of traders closed yesterday is an integral part of the trading performance analysis. If the number of traders is unusually high, it should correspond to the market action accordingly. Otherwise, it shows that it may be a result of revenge trading or chasing the markets. Both of this practice may result in negative trading results.

On the other hand, if the profit or loss reflects unusually high or low it reflects the traders need to have a better account management or trade management in place. It is necessary to analyze the trading behavior or psychological behavior in case of negative trading results.

Conclusion
In summary, the profit statistics indicator for MT4 is an account monitoring tool. It helps the trader to alter or modify the trading pattern if necessary.