Breakeven Line Indicator MT4 | MT5

The BEL is a level indicator that plots a horizontal line on the MetaTrader chart representing the price at which the total profit/loss from all open positions becomes zero. This indicator is primarily used for risk management and trade monitoring for multiple positions opening in the same asset, helping traders identify the price at which their long or short positions become profitable.

- If the total lot size of open buy positions exceeds that of open sell positions, the indicator's line turns lime. When the price breaks above this level, the overall position becomes profitable.

- If the total lot size of open short positions exceeds that of open long positions, the breakeven line turns pink. When the price breaks below this level, the overall position becomes profitable.

To sum up, this indicator assists traders in managing risk when covering losing positions by opening inverse trades, allowing them to identify the level at which their overall position returns to equilibrium. 

To help traders understand how they can use the indicator on a trading chart, I will provide them with two trading examples.

In the GBPJPY chart on MT4, the indicator plots a lime-colored line, indicating that the total open long positions exceed the short ones, as shown on the chart, and more than that the indicator displays key metrics such as:

• -24: The total pip difference, indicating a net negative position.
• -3.29 USD: The current loss in dollar value.
• 0.2 lots: The net lot size (buying lots - selling lots).
• N: The number of open positions.

Traders, in this situation, can detect when the price breaks above the lime line, which means the total position is making a profit for them. 

In the EURAUD chart on MT5, the indicator plots a pink-colored line, indicating that the total open long positions exceed the long ones, as shown on the chart, and more than that the indicator displays key metrics such as:

• -73: The total pip difference, indicating a net negative position.
• -4.54 USD: The current loss in dollar value.
• -0.10 lots: The net lot size (buying lots - selling lots).
• N: The number of open positions.

Traders, in this situation, can detect when the price breaks below the pink line, which means the total position is making a profit for them.