How to use FXRM_Open_Trade_Pip_History
The purpose of the indicator is to keep record of both positive and negative pip history of an open trade, so that later it's possible to review the questionable moments of: a) stops being hit when the price wasn't near and b) profits not taken while the price has visually crossed the profit line.
These are the questions that more often than not make traders at most furious, or at least suspicious about the fairness of their brokers. In reality though, what often causes troubles is a sudden widening of a spread, which can affect trading results.
On the screenshot below a red arrow indicates where a Sell trade was open.
At first a trade went to a negative territory (the indicator draws
purple bars), as we has to cover the spread cost. Then the pips started
to accumulate (the indicator registers positive performance with the
blue bars).
It all went well, until price almost returned to our entry point (the first red circle).
Then the same happened 2 more times later (2 other red circles). Let's zoom them in:
Then the same happened 2 more times later (2 other red circles). Let's zoom them in:
Simply put, should our stop loss at that point be at break even, it
would've been hit & the trade would've been closed leaving us
wondering why...
Thanks to FXRM_Open_Trade_Pip_History we know what happened behind the scenes.
The indicator has one limitation though – it can track only 1 open trade per chart.
Download indicator:
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