R Multiple Tracker

Profit in account currency tells a trader almost nothing about whether their edge is real, because it mixes different position sizes and different amounts of risk into one number. R multiples fix that by expressing every trade's result as a multiple of what was actually risked, so a system's real expectancy becomes visible - and this indicator builds that curve directly from closed-order history instead of asking the trader to log it by hand. Each closed trade's R is profit or loss divided by the distance from entry to the stop-loss on record for that order. The cumulative sum of every qualifying trade's R is plotted as a line in a separate window, mapped onto the chart's own bars by each trade's close time, so the curve reads left to right exactly like an equity curve - except in units of R rather than currency. A summary panel adds trade count, win rate, average R and expectancy so the headline numbers do not have to be read off the chart by eye. History is only rebuilt when the closed-order count actually changes, not on every tick, because that count changes only when a trade closes - recomputing on every price tick would be wasted work for a curve that cannot move between trade closes anyway. Notes and limitations - MQL4 order history exposes only the LAST stop-loss value recorded on a closed order, never the one that was in place at entry. A trade that was moved to breakeven or trailed will compute R from that final stop, not the risk actually taken when the trade was opened - no history API in MQL4 exposes the original value, so this is a genuine platform limitation, not a bug. Systems that never move their stop are read correctly; systems that trail heavily will see R values compressed toward the trailed distance. See MQL4 VERSUS MQL5 DIFFERENCES above for how the MQL5 version avoids this. - A closed trade with no stop-loss on record, or whose originating order has aged out of local history, cannot produce an R multiple and is excluded from the curve and statistics; the excluded count is shown in the panel so it is never silently missing. - The MQL5 version assumes a position was not scaled into and out of in a way that should be treated as several independent trades - it combines every fill and every exit of one position into a single R using the earliest entry as the reference stop and price. - The curve only advances when a trade closes; it is flat between closes, which is correct behaviour, not a stall. - No alerting in this version; it summarises settled history, and every value shown is already-closed, final data, so nothing here can repaint.

Indicator · MT4 · v1.0 · Free

Tags: Risk & Lot Size · MT4 Indicator · MQL4 Source Code

MetaTrader 4 & 5 indicators · PolyMaria