How does TICKVALUE work? - page 2

brettosm8 · 2014-03-23T09:38:03.0000000Z

Hi there, There is this code from http://www.earnforex.com/position-size-calculator. Is the function that calculate risk and position size from their indicator. void CalculateRiskAndPositionSize() { if (!UseMoneyInsteadOfPercentage) RiskMoney = Size * Risk / 100 ; else RiskMoney = MoneyRisk; ObjectSetText ( "RiskMoney" , "Risk, money: " + DoubleToStr (RiskMoney, 2 ), font_size, font_face, font_color); double UnitCost = MarketInfo ( Symbol (), MODE_TICKVALUE ); double TickSize = MarketInfo ( Symbol (), MODE_TICKSIZE ); if ((StopLoss != 0 ) && (UnitCost != 0 ) && (TickSize != 0 )) PositionSize = RiskMoney / (StopLoss * UnitCost / TickSize); ObjectSetText ( "PositionSize" , "Pos. Size: " + DoubleToStr (PositionSize, 2 ), font_size + 1 , font_face, ps_font_color); } Wlhat is the purpose of the TICKSIZE? On XXXJPY it returns .001 but on other pairs it returns 0. The help doco says it returns the tick size in the quote currency. I thought that'd mean it returns .001 or .0001. Is this not the case? If not, how is it being used above? I have attached the full .mq4 file just in case. Thanks. P.S. The full .mq4 file code is included below just in case. //+------------------------------------------------------------------+ //| PositionSizeCalculator.mq4 | //| Copyright © 2012-2013, Andriy Moraru | //+------------------------------------------------------------------+ #property copyright "Copyright © 2012-2013, Andriy Moraru" #property link "http://www.earnforex.com" /* Calculates position size based on account balance/equity, currency, currency pair, given entry level, stop-loss level and risk tolerance (set either in percentage points or in base currency). */ #property indicator_chart_window extern double EntryLevel = 0 ; extern double StopLossLevel = 0 ; extern double TakeProfitLevel = 0 ; // Optional extern double Risk = 1 ; // Risk tolerance in percentage points extern double MoneyRisk = 0 ; // Risk tolerance in base currency extern bool UseMoneyInsteadOfPercentage = false ; extern bool UseEquityInsteadOfBalance = false ; extern bool DeleteLines = false ; // If true, will delete lines on deinitialization. Otherwise will leave lines, so levels can be restored. extern bool UseAskBidForEntry = false ; // If true, Entry level will be updated to current Ask/Bid price automatically. extern color font_color = LightBlue; extern color ps_font_color = Red; extern int font_size = 12 ; extern string font_face = "Courier" ; extern int corner = 0 ; //0 - for top-left corner, 1 - top-right, 2 - bottom-left, 3 - bottom-right extern int distance_x = 10 ; extern int distance_y = 15 ; extern color entry_line_color = Blue; extern color stoploss_line_color = Lime; extern color takeprofit_line_color = Yellow; string SizeText; double Size, RiskMoney; double PositionSize; double StopLoss; //+------------------------------------------------------------------+ //| Custom indicator initialization function | //+------------------------------------------------------------------+ int init() { if ( ObjectFind ( "EntryLine" ) > - 1 ) EntryLevel = ObjectGet ( "EntryLine" , OBJPROP_PRICE1 ); if ( ObjectFind ( "StopLossLine" ) > - 1 ) StopLossLevel = ObjectGet ( "StopLossLine" , OBJPROP_PRICE1 ); if ( ObjectFind ( "TakeProfitLine" ) > - 1 ) TakeProfitLevel = ObjectGet ( "TakeProfitLine" , OBJPROP_PRICE1 ); if ((EntryLevel == 0 ) && (StopLossLevel == 0 )) { Print ( Symbol () + ": Entry and Stop-Loss levels not given. Using local values." ); EntryLevel = High [ 0 ]; StopLossLevel = Low [ 0 ]; if (EntryLevel == StopLossLevel) StopLossLevel -= Point ; } if (EntryLevel - StopLossLevel == 0 ) { Alert ( "Entry and Stop-Loss levels should be different and non-zero." ); return (- 1 ); } if (UseAskBidForEntry) { RefreshRates (); if (( Ask > 0 ) && ( Bid > 0 )) { // Long entry if (StopLossLevel < Bid ) EntryLevel = Ask ; // Short entry else if (StopLossLevel > Ask ) EntryLevel = Bid ; } } ObjectCreate ( "EntryLevel" , OBJ_LABEL , 0 , 0 , 0 ); ObjectSet ( "EntryLevel" , OBJPROP_CORNER , corner); ObjectSet ( "EntryLevel" , OBJPROP_XDISTANCE , distance_x); ObjectSet ( "EntryLevel" , OBJPROP_YDISTANCE , distance_y); ObjectSetText ( "EntryLevel" , "Entry Lvl: " + DoubleToStr (EntryLevel, Digits ), font_size, font_face, font_color); if ( ObjectFind ( "EntryLine" ) == - 1 ) { ObjectCreate ( "EntryLine" , OBJ_HLINE , 0 , Time [ 0 ], EntryLevel); ObjectSet ( "EntryLine" , OBJPROP_STYLE , STYLE_SOLID ); ObjectSet ( "EntryLine" , OBJPROP_COLOR , entry_line_color); ObjectSet ( "EntryLine" , OBJPROP_WIDTH , 1 ); } ObjectCreate ( "StopLoss" , OBJ_LABEL , 0 , 0 , 0 ); ObjectSet ( "StopLoss" , OBJPROP_CORNER , corner); ObjectSet ( "StopLoss" , OBJPROP_XDISTANCE , distance_x); ObjectSet ( "StopLoss" , OBJPROP_YDISTANCE , distance_y + 15 ); ObjectSetText ( "StopLoss" , "Stop-Loss: " + DoubleToStr (StopLossLevel, Digits ), font_size, font_face, font_color); if ( ObjectFind ( "StopLossLine" ) == - 1 ) { ObjectCreate ( "StopLossLine" , OBJ_HLINE , 0 , Time [ 0 ], StopLossLevel); ObjectSet ( "StopLossLine" , OBJPROP_STYLE , STYLE_SOLID ); ObjectSet ( "StopLossLine" , OBJPROP_COLOR , stoploss_line_color); ObjectSet ( "StopLossLine" , OBJPROP_WIDTH , 1 ); } StopLoss = MathAbs (EntryLevel - StopLossLevel); if (!UseMoneyInsteadOfPercentage) { ObjectCreate ( "Risk" , OBJ_LABEL , 0 , 0 , 0 ); ObjectSet ( "Risk" , OBJPROP_CORNER , corner); ObjectSet ( "Risk" , OBJPROP_XDISTANCE , distance_x); ObjectSet ( "Risk" , OBJPROP_YDISTANCE , distance_y + 30 ); ObjectSetText ( "Risk" , "Risk: " + DoubleToStr (Risk, 2 ) + "%" , font_size, font_face, font_color); } if (UseEquityInsteadOfBalance) { SizeText = "Equity" ; Size = AccountEquity (); } else { SizeText = "Balance" ; Size = AccountBalance (); } ObjectCreate ( "AccountSize" , OBJ_LABEL , 0 , 0 , 0 ); ObjectSet ( "AccountSize" , OBJPROP_CORNER , corner); ObjectSet ( "AccountSize" , OBJPROP_XDISTANCE , distance_x); ObjectSet ( "AccountSize" , OBJPROP_YDISTANCE , distance_y + 45 ); ObjectSetText ( "AccountSize" , "Acc. " + SizeText + ": " + DoubleToStr (Size, 2 ), font_size, font_face, font_color); ObjectCreate ( "RiskMoney" , OBJ_LABEL , 0 , 0 , 0 ); ObjectSet ( "RiskMoney" , OBJPROP_CORNER , corner); ObjectSet ( "RiskMoney" , OBJPROP_XDISTANCE , distance_x); ObjectSet ( "RiskMoney" , OBJPROP_YDISTANCE , distance_y + 60 ); ObjectCreate ( "PositionSize" , OBJ_LABEL , 0 , 0 , 0 ); ObjectSet ( "PositionSize" , OBJPROP_CORNER , corner); ObjectSet ( "PositionSize" , OBJPROP_XDISTANCE , distance_x); ObjectSet ( "PositionSize" , OBJPROP_YDISTANCE , distance_y + 75 ); if (TakeProfitLevel > 0 ) // Show TP line and RR ratio only if TakeProfitLevel input parameter is set by user or found via chart object. { ObjectCreate ( "TakeProfit" , OBJ_LABEL , 0 , 0 , 0 ); ObjectSet ( "TakeProfit" , OBJPROP_CORNER , corner); ObjectSet ( "TakeProfit" , OBJPROP_XDISTANCE , distance_x); ObjectSet ( "TakeProfit" , OBJPROP_YDISTANCE , distance_y + 90 ); ObjectSetText ( "TakeProfit" , "Take-Profit: " + DoubleToStr (TakeProfitLevel, Digits ), font_size, font_face, font_color); if ( ObjectFind ( "TakeProfitLine" ) == - 1 ) { ObjectCreate ( "TakeProfitLine" , OBJ_HLINE , 0 , Time [ 0 ], TakeProfitLevel); ObjectSet ( "TakeProfitLine" , OBJPROP_STYLE , STYLE_SOLID ); ObjectSet ( "TakeProfitLine" , OBJPROP_COLOR , takeprofit_line_color); ObjectSet ( "TakeProfitLine" , OBJPROP_WIDTH , 1 ); } ObjectCreate ( "RR" , OBJ_LABEL , 0 , 0 , 0 ); ObjectSet ( "RR" , OBJPROP_CORNER , corner); ObjectSet ( "RR" , OBJPROP_XDISTANCE , distance_x); ObjectSet ( "RR" , OBJPROP_YDISTANCE , distance_y + 105 ); ObjectSetText ( "RR" , "Reward/Risk: " + DoubleToStr ( MathAbs ((TakeProfitLevel - EntryLevel) / (EntryLevel - TakeProfitLevel)), 1 ), font_size, font_face, takeprofit_line_color); } CalculateRiskAndPositionSize(); return ( 0 ); } //+------------------------------------------------------------------+ //| Custom indicator deinitialization function | //+------------------------------------------------------------------+ int deinit() { ObjectDelete ( "EntryLevel" ); if (DeleteLines) ObjectDelete ( "EntryLine" ); ObjectDelete ( "StopLoss" ); if (DeleteLines) ObjectDelete ( "StopLossLine" ); if (!UseMoneyInsteadOfPercentage) ObjectDelete ( "Risk" ); // Otherwise wasn't created. ObjectDelete ( "AccountSize" ); ObjectDelete ( "RiskMoney" ); ObjectDelete ( "PositionSize" ); if (TakeProfitLevel > 0 ) { ObjectDelete ( "TakeProfit" ); if (DeleteLines) ObjectDelete ( "TakeProfitLine" ); ObjectDelete ( "RR" ); } return ( 0 ); } //+------------------------------------------------------------------+ //| Custom indicator iteration function | //+------------------------------------------------------------------+ int start() { double tEntryLevel, tStopLossLevel, tTakeProfitLevel; // Update Entry to Ask/Bid if needed. if (UseAskBidForEntry) { RefreshRates (); if (( Ask > 0 ) && ( Bid > 0 )) { tStopLossLevel = ObjectGet ( "StopLossLine" , OBJPROP_PRICE1 ); // Long entry if (tStopLossLevel < Bid ) tEntryLevel = Ask ; // Short entry else if (tStopLossLevel > Ask ) tEntryLevel = Bid ; ObjectSet ( "EntryLine" , OBJPROP_PRICE1 , tEntryLevel); } } if (EntryLevel - StopLossLevel == 0 ) return ( 0 ); // If could not find account currency, probably not connected. if ( AccountCurrency () == "" ) return ( 0 ); tEntryLevel = ObjectGet ( "EntryLine" , OBJPROP_PRICE1 ); tStopLossLevel = ObjectGet ( "StopLossLine" , OBJPROP_PRICE1 ); tTakeProfitLevel = ObjectGet ( "TakeProfitLine" , OBJPROP_PRICE1 ); ObjectSetText ( "EntryLevel" , "Entry Lvl: " + DoubleToStr (tEntryLevel, Digits ), font_size, font_face, font_color); ObjectSetText ( "StopLoss" , "Stop-Loss: " + DoubleToStr (tStopLossLevel, Digits ), font_size, font_face, font_color); if (tTakeProfitLevel > 0 ) ObjectSetText ( "TakeProfit" , "Take-Profit: " + DoubleToStr (tTakeProfitLevel, Digits ), font_size, font_face, font_color); StopLoss = MathAbs (tEntryLevel - tStopLossLevel); if (tTakeProfitLevel > 0 ) { string RR; // Have valid take-profit level that is above entry for SL below entry, or below entry for SL above entry. if (((tTakeProfitLevel > tEntryLevel) && (tEntryLevel > tStopLossLevel)) || ((tTakeProfitLevel < tEntryLevel) && (tEntryLevel < tStopLossLevel))) RR = DoubleToStr ( MathAbs ((tTakeProfitLevel - tEntryLevel) / StopLoss), 1 ); else RR = "Invalid TP." ; ObjectSetText ( "RR" , "Reward/Risk: " + RR, font_size, font_face, takeprofit_line_color); } if (UseEquityInsteadOfBalance) Size = AccountEquity (); else Size = AccountBalance (); ObjectSetText ( "AccountSize" , "Acc. " + SizeText + ": " + DoubleToStr (Size, 2 ), font_size, font_face, font_color); CalculateRiskAndPositionSize(); return ( 0 ); } //+------------------------------------------------------------------+ //| Calculates risk size and position size. Sets object values. | //+------------------------------------------------------------------+ void CalculateRiskAndPositionSize() { if (!UseMoneyInsteadOfPercentage) RiskMoney = Size * Risk / 100 ; else RiskMoney = MoneyRisk; ObjectSetText ( "RiskMoney" , "Risk, money: " + DoubleToStr (RiskMoney, 2 ), font_size, font_face, font_color); double UnitCost = MarketInfo ( Symbol (), MODE_TICKVALUE ); double TickSize = MarketInfo ( Symbol (), MODE_TICKSIZE ); if ((StopLoss != 0 ) && (UnitCost != 0 ) && (TickSize != 0 )) PositionSize = RiskMoney / (StopLoss * UnitCost / TickSize); ObjectSetText ( "PositionSize" , "Pos. Size: " + DoubleToStr (PositionSize, 2 ), font_size + 1 , font_face, ps_font_color); } //+------------------------------------------------------------------+

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brettosm8 2014.03.23 09:21 #11

Yeah I followed the link but didn't feel confident I understood it.

Have actually getting the same results now! Well actually, the 3rd decimal is sometimes rounded off differently but that's ok I think, it's close enough.

THANKS!!

Errors, bugs, questions Any rookie question, so MetaTrader does not reflect

brettosm8 2014.03.23 09:38 #12

The code:

void CalculatePositionSize()
   {
    double pips2dbl = 0.00;
    if (Digits % 2 == 1) pips2dbl = Point*10; //DE30=1/JPY=3/EURUSD=5 forum.mql4.com/43064#515262
    else pips2dbl = Point;  
    UnitCost=MarketInfo(Symbol(),MODE_TICKVALUE);
    TickSize=MarketInfo(Symbol(),MODE_TICKSIZE);
    PositionSize = RiskMoney / (RiskPips * pips2dbl * UnitCost / TickSize);

    //where RiskMoney = The amount of money being risked on the trade.
    //StopLoss = RiskPips i.e. The number of pips between the EntryLevel and stop-loss level.
    //UnitCost = The tick value in the deposit currenty
    //TickSize = The tick size in points.
      
   }//End CalculatePositionSize

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