Takeprofit & Stoploss are not correct values by base currency

To add comments, please log in or register
Brian Lillard
6002
Brian Lillard  

I am trying to figure out how to make takeprofit and stoploss values accurate..


If for example stoploss is set at 200 points it shows a value of 1.79?

If that stoploss is set for 200 points then that value of 2.00?


Should it be coded differently so it makes the correct level?

If a stoploss of 213 points equaled 2.00 then that is fine..


There's no simple way to figure it?

William Roeder
18639
William Roeder  

Brian Lillard:

If for example stoploss is set at 200 points it shows a value of 1.79?

If that stoploss is set for 200 points then that value of 2.00?

Should it be coded differently so it makes the correct level?

If a stoploss of 213 points equaled 2.00 then that is fine..

  1. A SL is a price. It is never "set at 200 points." It can only show 1.79 if the buy order open price - spread - 200 * _Point happens to be 1.79.
  2. No, a SL is a price.
  3. Obviously given your previous questions.
  4. Babel.
Using Point means code breaks on 4 digit brokers, exotics (e.g. USDZAR where spread is over 500 points,) and metals. Compute what a PIP is and use it, not points.
          How to manage JPY pairs with parameters? - MQL4 and MetaTrader 4 - MQL4 programming forum
          Slippage defined in index points - Currency Pairs - Expert Advisors and Automated Trading - MQL5 programming forum

You buy at the Ask and sell at the Bid. (Your stops have 20 PIP minus spread for buys and 20 PIP plus spread for sells.)

  • Your buy order's TP/SL are triggered when the Bid reaches it. Not the Ask.
  • Your sell order's TP/SL will be triggered when the Ask reaches it. To trigger at a specific Bid price, add the average spread.
              MODE_SPREAD (Paul) - MQL4 and MetaTrader 4 - MQL4 programming forum - Page 3
  • The charts show Bid prices only. Turn on the Ask line to see how big the spread is (Tools -> Options {control-O} -> charts -> Show ask line.)
Brian Lillard
6002
Brian Lillard  

How can a points in percent(pips) of 20 be 200?

Just trade on the base pair of deposit currency.

Thank you for this detailed analysis as always.

To add comments, please log in or register