MFE & MAE Indicator
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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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Usage scenarios
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.
How to install
To use the MFE & MAE Indicator, follow the steps below to download and install it.
Step 1
Click the button below to download the indicator for MT4/MT5.
Step 2
Click File > Open Data Folder in the top menu of MT4/MT5.
Step 3
In the data folder, double-click the MQL4 or MQL5 folder.
Step 4
In the MQL4/MQL5 folder, double-click the Indicators folder.
Step 5
Save the MFE & MAE Indicator in the Indicators folder.
Step 6
Go back to the MT4/MT5. Right-click Indicators in the Navigator, and click Refresh.
Step 7
In the Navigator, click the + icon next to Indicators. Find the MFE & MAE Indicator, then either double-click it or drag it onto a chart.
Step 8
In the indicator settings window, customize the settings on the Inputs tab according to the How to set up page, then click OK.
Step 9
The MFE & MAE Indicator is applied to the chart, presenting the data on screen.
How to set up
After applying the indicator to the chart, set the parameters according to your style.
Step 1
First, open the Inputs tab.
Step 2
Set the parameters as follows.
Specify the starting point of the period used for calculating MAE and MFE.
The input format is "YYYY.MM.DD HH:MM:SS". For example, to specify July 17, 2022, at 9:10:10 AM, enter: "2022.07.17 09:10:10".
Specify the end point of the period used for calculating MAE and MFE.
The input format is "YYYY.MM.DD HH:MM:SS". For example, to specify November 7, 2022, at 7:07:07 AM, enter: "2022.11.07 19:07:07".
If it is ON, MAE and MFE will be calculated only for the symbol displayed on the chart.
If it is OFF, the calculation will include all trades within the specified timeframe.
If it is ON, the statistics will be displayed on the chart.
The data includes the period, general data, and details.
If it is ON, data for each trade will be displayed.
Choose the position for displaying statistics.
Left upper chart corner
Right upper chart corner
Left lower chart corner
Right lower chart corner
