PIP To $ Converter Tool/EA

PIP To $ Converter Tool/EA

 Please see Attachment to get a better Idea. The yellow numbers at -$1, $0 , $1 , $2, $3

This EA will mostly use display data on the chart. It is an EA/Tool only because trades will be executed from the chart, but most of it is just calculations and information display. The EA should however be able to be visually back tested to find possible bugs.

The purpose of this EA is to convert price movement in pips to $ and then forecast the lot size required to earn $ @ Price.   It should do this by 2 methods.

1.       Using current lot size, how much will $ be at each price level?

2.       The EA should answer, if I want for example $50 @ 1.2000 , then what lot size will I need to use?

--Calculation Parameters--

Note: Will always calculate based on current position

GMT (dropdown so that user can set their local GMT TIme) – Default at -5:00 

Assume Slippage of (in Pips) – If blank, assume 0 slippage

Assume Spread of (in Pips) – If NOT Set, then use “current” spread

Subtract Extra $ Cost – If set, this will subtract extra cost to display levels. For example, if current read is $50 @ 1.2000, and parameter set at $3, then new read will be $47 @ 1.2000

Round (Up/Down) – Round to the nearest .01

Lot size – Lot used for Display calculations.  If .01 is $50 @ 1.2000 ,  then change of 0.02 is $100 @ 1.2000

--Override Mode-- Note: This is EA Calculation questions. 

Important- Override to still use Calculation Parameters above

Direction (Buy/Sell) – Example below is for BUY transaction. “Sell” to be reverse statement. Text in Blue will need to be input areas

1.       Lot size to reach $30 @ 1.2000 =  output

2.       Lot size to have no greater loss then $80 @ 1.1000 = output

3.       Lot size of BEST to have profit “near” $30 @ 1.2000 and no greater loss then $80 @ 1.1000 = output

a.       Display = Based on $30 @ 1.2000, will miss Profit level by amt = $

b.       Display = Based on $80 @ 1.1000, will miss Loss level by amt = $

--Buttons--  (All Buttons will populate data of Override Mode, but can be changed manually with a text box near button)

Time Close Order @ - Should be entered as normal time ( 11am,12pm,1pm). EA will use broker time and GMT time to calculate conversion

Override Pull (1/2/3) – Which override question to use

Place Trade – Places Trade based on Output size and direction

Stop Loss (2 and 3 Auto Populate) – Places Trade based on Output size and direction

Take Profit (1 and 3 Auto Populate)

Trailing Stop

·         Start (- will activate at Take Profit Line)

·         Step in (Pips)  

--Chart Display--

Display visible text of $ @ market price points on chart (will use data from Calculate Section)

·         Zoom out should have hirer numbers in bigger text

·         Zoom in should show the lower number in between in smaller text

Visual Line Showing Take Profit, Stop Loss, and Trailing Stop Levels