Questions converting profit to pips

[John May]

I am trying to make a quick conversion of the current position profit to pips with this line of code:

 

#include <Trade\Trade.mqh>        //include the library for execution of trades

CPositionInfo     m_Position;        // entity for obtaining information on positions

int  PIP_SWAG;            // Buy/Sell PIP Tolerance

if(MathAbs(m_Position.Profit()/SymbolInfoDouble(my_symbol,SYMBOL_TRADE_TICK_VALUE))<PIP_SWAG)

 Where m_Position is using the Trade class object.

The issue I am having is that over different installations of meta trader 5 terminals (I mean I have one that is a FXCM-MT5 Demo and another that is a Metaquotes Demo), the relationship between m_Position.Profit and the variable SYMBOL_TRADE_TICK_VALUE varies by a factor of 10, which I did not expect. Would any of you have a cleaner way to make this conversion? I appreciate your consideration

[Andrey Barinov]

CappinJack:

I am trying to make a quick conversion of the current position profit to pips with this line of code:

 

 Where m_Position is using the Trade class object.

The issue I am having is that over different installations of meta trader 5 terminals (I mean I have one that is a FXCM-MT5 Demo and another that is a Metaquotes Demo), the relationship between m_Position.Profit and the variable SYMBOL_TRADE_TICK_VALUE varies by a factor of 10, which I did not expect. Would any of you have a cleaner way to make this conversion? I appreciate your consideration

 

Hi, you can use the difference between current price and Position Open price, to calculate the profit/loss in pips. It is a bit more reliable and easier than the way you described.

[enbo lu]

I think you mean that some brokers are using five digits price while others using four digits. 

      double point = MarketInfo(OrderSymbol(),MODE_POINT);
      double tick_value = SymbolInfoDouble(my_symbol,SYMBOL_TRADE_TICK_VALUE);
      if(point==0.00001 || point==0.001)
         {            
                      tick_value = tick_value*10;       
         }   

[John May]

luenbo:

I think you mean that some brokers are using five digits price while others using four digits. 

That is true, however in this case they are both using 5 digits. I think I am going to change up and just use the position open price versus the current price as suggested.

But is something I will dig into the future.

thanks for the comments. 

[John May]

CappinJack:

That is true, however in this case they are both using 5 digits. I think I am going to change up and just use the position open price versus the current price as suggested.

But is something I will dig into the future.

thanks for the comments. 

In case your interested, here is how I solved my issue.

         if(MathAbs(m_Position.PriceOpen()-m_Position.PriceCurrent())<PIP_SWAG*SymbolInfoDouble(my_symbol,SYMBOL_POINT)) return;

 

[phi nuts]

CappinJack:

In case your interested, here is how I solved my issue.

 

Thank you for sharing, but what is PIP_SWAG ?

[John May]

phi.nuts:
Thank you for sharing, but what is PIP_SWAG ?

phi.nuts:
Thank you for sharing, but what is PIP_SWAG ?

PIP_SWAG is an input variable 

In this particular case I am checking if a position has moved more than a pre-detirmined amount of points ( PIP_SWAG ) since it opened.

[phi nuts]

CappinJack:

PIP_SWAG is an input variable 

In this particular case I am checking if a position has moved more than a pre-detirmined amount of points ( PIP_SWAG ) since it opened.

OK, thank you for the explanation :)

Its better to make it automatic like for example using levels of Bollinger band.

[khai hoan nguyen]

I think to convert from pips to profit is more need . so you nedd study how to calculate value one pip in some different pairs currency.