Universal Volume calculation + adjust StopLoss (in pips)
Created at 18 Jul 2022, 01:48
Universal Volume calculation + adjust StopLoss (in pips)
18 Jul 2022, 01:48
Hi! I have checked all the topics related to Volume calculations & StopLoss but got confused, not all of them return correct values for different types of instruments (no base unit conversions and can't get the US30 volume correctly)
1. I need to get the following formula / method:
- Calculate position volume (normalized) from percentage of account total balance (GBP, leveraged), ex: input: 20 (20% from total balance)
- 1 formula that works with: USDCHF, EURJPY, US30, XTIUSD (note: all of them have different pip size/value etc.. + US30 has max leverage of 200)
- + Get monetary value(in account currency) of this volume (used to check against available margin etc..)
I am using ExecuteMarketRangeOrder() to open position, and I have cAlgo.API.Extensions installed.
2. Adjust StopLoss periodically to lower it, if price goes in position's favour, until the point when StopLoss is even(commission*2 + additional predefined pips, ex +1.2)
- Calculate new StopLoss (OnTick, in pips) then:
- adjust if its smaller then previous and price has moved in position favour (to open position I have pre-defined StopLoss in pips (ex. 3.4)
- use ModifyStopLossPips() to make position adjustments (for any position at USDCHF, ERUJPY, US30 or XTIUSD)
Any help appreciated, thank you!