Show Profit between two drawn object.

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So.

I'm working on a small indicator that draws 3 objects

  • openPosition
  • TakeProfitPosition
  • TakeStopLossPosition

These Object should calculate Profit in Dollar.

With The code I have it works on EURUSD but not XAUUSD. Then it gives me xxxx instead of xx.xx ($7799 instead of $77.99)


   double lot = MarketInfo(Symbol(),MODE_MINLOT);
   double tp_Text    = NormalizeDouble((tp_Price - open_Price) /  Point()  *  lot   ,2);
   double sl_Text    = NormalizeDouble((sl_Price - open_Price) /  Point()  *  lot   ,2);


What I'm i missing?

 

  1. Those are prices not objects and prices do not calculate anything.
         How To Ask Questions The Smart Way. 2004
              Be precise and informative about your problem

  2. You are missing value per tick. Only on xxxUSD is a PIP worth $10 USD.

    Risk depends on your initial stop loss, lot size, and the value of the symbol. It does not depend on margin and leverage. No SL means you have infinite risk. Never risk more than a small percentage of your trading funds, certainly less than 2% per trade, 6% total.

    1. You place the stop where it needs to be — where the reason for the trade is no longer valid. E.g. trading a support bounce the stop goes below the support.

    2. AccountBalance * percent/100 = RISK = OrderLots * (|OrderOpenPrice - OrderStopLoss| * DeltaPerLot + CommissionPerLot) (Note OOP-OSL includes the spread, and DeltaPerLot is usually around $10/pip but it takes account of the exchange rates of the pair vs. your account currency.)

    3. Do NOT use TickValue by itself - DeltaPerLot and verify that MODE_TICKVALUE is returning a value in your deposit currency, as promised by the documentation, or whether it is returning a value in the instrument's base currency.
                MODE_TICKVALUE is not reliable on non-fx instruments with many brokers - MQL4 programming forum 2017.10.10
                Is there an universal solution for Tick value? - Currency Pairs - General - MQL5 programming forum 2018.02.11
                Lot value calculation off by a factor of 100 - MQL5 programming forum 2019.07.19

    4. You must normalize lots properly and check against min and max.

    5. You must also check FreeMargin to avoid stop out

    Most pairs are worth about $10 per PIP. A $5 risk with a (very small) 5 PIP SL is $5/$10/5 or 0.1 Lots maximum.


 
William Roeder:

  1. Those are prices not objects and prices do not calculate anything.
         How To Ask Questions The Smart Way. 2004
              Be precise and informative about your problem

  2. You are missing value per tick. Only on xxxUSD is a PIP worth $10 USD.


Thank you for your comment. I'll check this out later this week.

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