Calculate tick value in account currency

Created at 02 Mar 2021, 09:49
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JE

JerryTrader

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Joined 06.01.2021

Calculate tick value in account currency
02 Mar 2021, 09:49

Hi all, 

This is kind of a pretty basic question, but I can't figure it out ...

How would you calculate the tick value in the account currency based on the position size?

Example:
- Account currency : EUR
- Trading pair : GBPUSD
- Lots bought : 0.2 lots
- Buy Price : 1.39
- Gross Profit Target : 10EUR

I would like to know how many ticks are needed to reach the target ?

Hope this is clear !

Thanks for your answers,
Cheers,
Jerry

@JerryTrader
Replies

PanagiotisCharalampous
02 Mar 2021, 09:56

Hi JerryTrader,

Here you go 

var tickValue = Symbol.PipValue * (Symbol.TickSize / Symbol.PipSize);

Best Regards,

Panagiotis 

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@PanagiotisCharalampous

JerryTrader
02 Mar 2021, 11:12

RE:

PanagiotisCharalampous said:

var tickValue = Symbol.PipValue * (Symbol.TickSize / Symbol.PipSize);

This does not take into account the lot size, but I guess that this is the tick value for one unit.
So multiplying this tickValue by the Position.VolumeInUnits should give me the tick value for this position.

Thanks Panagiotis for your prompt answer.
Cheers,
Jerry

@JerryTrader
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