#technical

#mainchart

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The MFE & MAE Indicator calculates how much unrealized loss or profit occurred in past trades and displays this data on the chart. You can verify whether appropriate trading was conducted by examining the actual timing of position closures.

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For analyzing past trades

You can analyze how effective past trades were by checking information such as average profits and losses and profit factor. It’s not uncommon for winning trades to have too large a maximum adverse excursion (= high risk), so analyzing such trades can be useful for the future.

For reviewing EA and indicator settings

The MFE & MAE Indicator allows you to check various information about past trades. For example, it can be used to judge whether there are problems with your EA or indicator strategy, such as extremely large maximum adverse excursions or high win rates but too small average profits.

The MFE & MAE Indicator displays a large amount of information needed for analyzing and improving past trades, including not just maximum adverse and favorable excursions but also profit factor and maximum drawdown. Please make use of it for your daily trading and reviews.

Analyze entry and exit points

This indicator is also useful for assessing past entry and exit points.

For example, if the profit is too small compared to the MFE or if a stop loss was triggered at the MAE, it may indicate that the exit was too late. On the contrary, if the MAE occurred immediately after entry, it could suggest that the entry was too early.

Account History setting affects data in MT4

In the MFE & MAE Indicator for MT4, both the period specified in the indicator's parameters and the period set in MT4’s Account History tab influence the displayed data.

For example, if you set the indicator period from January 1 to November 30, 2022, but your Account History is set to display only the last one month, the indicator will only use trades from that limited timeframe. To ensure accurate results, always set the Account History period longer than the full range specified in the indicator.