(maybe we need a more beginner friendly name for it, once it is ready for the masses)
Since it is obvious that every trading strategy executed in MT4, including the ones that involve same pair "hedging" and FIFO violation can always be translated one-to-one into the flat position model of MT5 without any difference in profitability or transaction costs it seems to be of enourmous difficulty for some beginners to actually understand this simple fact.
Therefore i propose the creation of an indicator for MT4 that will analyze the trading history and currently open trades in real time and plot into the chart on every MT4 trade entry and exit, on every stop loss or take profit fill, the corresponding MT5 orders and the resulting net position before and after these orders that would be needed to exacty replicate the very same trading strategy and results on the MT5 platform.
The indicator would put labels into the chart that could look like this:
buy at market: 2 lot
closing of short trade #xyz at market
or
sell limit filled: 1 lot
OCO: buy stop #xyz canceled
take profit of long trade #uvw
The explanations in blue that explain the MT4 reason behind the MT5 action could be left out (or made optional)
In a separate indicator window it could show a plot of the net exposure in one color (representing MT4) and in another color (representing MT4) the sizes of the individual MT4 trades. It could calculate plots of the individual floating profits of all open MT4 trades plus a plot of the realized profit (in blue, meaning MT4) and a similar plot of the floating and realized profits in red (representing MT5). These plots could be made by separate optional indicators in multiple separate indicator windows.
Lines could be drawn to connect OCO orders in the chart with each other, blue lines and labels for MT4 trades and their s/l and t/p and red lines and labels to visualize their MT5 equivalents.
There are many ways how this could nicely be visualized in the chart, it should be possible to do it in a way that it is more or less self explanatory.
I think this indicator could serve two purposes, first it would be a valuable tool when discussing with hedge-believers and explaining the concept of net exposure to them and it could be used as a tool to analyze ones own trading style to understand how it actually worked, what it effectively meant, what one was actually doing all the time (maybe without even knowing) and find ways how to make the transition to MT5 without too much pain.
Since it is obvious that every trading strategy executed in MT4, including the ones that involve same pair "hedging" and FIFO violation can always be translated one-to-one into the flat position model of MT5 without any difference in profitability or transaction costs it seems to be of enourmous difficulty for some beginners to actually understand this simple fact.
Therefore i propose the creation of an indicator for MT4 that will analyze the trading history and currently open trades in real time and plot into the chart on every MT4 trade entry and exit, on every stop loss or take profit fill, the corresponding MT5 orders and the resulting net position before and after these orders that would be needed to exacty replicate the very same trading strategy and results on the MT5 platform.
The indicator would put labels into the chart that could look like this:
buy at market: 2 lot
closing of short trade #xyz at market
or
sell limit filled: 1 lot
OCO: buy stop #xyz canceled
take profit of long trade #uvw
The explanations in blue that explain the MT4 reason behind the MT5 action could be left out (or made optional)
In a separate indicator window it could show a plot of the net exposure in one color (representing MT4) and in another color (representing MT4) the sizes of the individual MT4 trades. It could calculate plots of the individual floating profits of all open MT4 trades plus a plot of the realized profit (in blue, meaning MT4) and a similar plot of the floating and realized profits in red (representing MT5). These plots could be made by separate optional indicators in multiple separate indicator windows.
Lines could be drawn to connect OCO orders in the chart with each other, blue lines and labels for MT4 trades and their s/l and t/p and red lines and labels to visualize their MT5 equivalents.
There are many ways how this could nicely be visualized in the chart, it should be possible to do it in a way that it is more or less self explanatory.
I think this indicator could serve two purposes, first it would be a valuable tool when discussing with hedge-believers and explaining the concept of net exposure to them and it could be used as a tool to analyze ones own trading style to understand how it actually worked, what it effectively meant, what one was actually doing all the time (maybe without even knowing) and find ways how to make the transition to MT5 without too much pain.