What formula can be used to assign EQUAL distance between ask and profit level accross instruments?

New comment
 
What formula can I use to assign EQUAL distance between ask and profit level accross instruments when going bullish?
I realize that instruments with higher spread give shorter distance on the chart, and vice versa.
I have tried the following but the distances still vary.
extern ProfitLevel = 200;
Profit = Ask + ProfitLevel * Point;
Profit = Ask + (ProfitLevel + MarketInfo(Symbol, MODE_SPREAD)) * Point;
Profit = Ask + ProfitLevel * Point + Ask - Bid;
I also want to use "Pip", but I have not come accross any command for pips in MQL4.
 
  1. A price plus a distance (200 points) is a price, not a profit.
    • You place the stop where it needs to be - where the reason for the trade is no longer valid.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.
    • Account Balance * 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.)
    • Do NOT use TickValue by itself - DeltaPerLot
    • You must normalize lots properly and check against min and max.
    • You must also check FreeMargin to avoid stop out
  2. adjusting SL, TP, and slippage for 4/5 digit brokers/JPY pairs.
    double   pip        = (_Symbol,"JPY") < 0 ? 0.01 : 0.0001;
    int      pip_digits = (int)MathLog10(pip/_Point);
    int      slippage   = 3 * int(pip / _Point);
  3. What is a TICK? - MQL4 forum
 
whroeder1:
  1. A price plus a distance (200 points) is a price, not a profit.
    • You place the stop where it needs to be - where the reason for the trade is no longer valid.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.
    • Account Balance * 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.)
    • Do NOT use TickValue by itself - DeltaPerLot
    • You must normalize lots properly and check against min and max.
    • You must also check FreeMargin to avoid stop out
  2. adjusting SL, TP, and slippage for 4/5 digit brokers/JPY pairs.
    double   pip        = (_Symbol,"JPY") < 0 ? 0.01 : 0.0001;
    int      pip_digits = (int)MathLog10(pip/_Point);
    int      slippage   = 3 * int(pip / _Point);
  3. What is a TICK? - MQL4 forum
But is it only the JPY pairs that use 0.01, what about SGD pairs  or RUB pairs? Thank you in advance.
New comment