How to: Calculating price movement per pip

[General Melchett]

I had this problem and I thought I'd write it up.

I needed to calculate how much price moves by smallest possible increment on chart, so that I can calculate what x pips of profit would be (eg how much profit is 5 pips on my current lot size?). This works across metals and forex. Should also work for indices as long as you have correct decimal values in Project Options.

The formula is:
Take smallest movement of price (a point) and divide it by current market price.
Then multiply it by current lot size
Then multiply it by a standard lot (depends on broker, usually 100,000)

You can find smallest movement of price and divide by current market price like this with formula block (bid for buys, ask for sells)

Then you can use 'adjust' field to multiply it by your open lot size, then by standard lot size (like this eg: '*Buy_Lots * Standard_Lot' or '*1.5 *100000)

So say you put result into variable 'Price_Per_Pip', you can just multiply that by '5' if you want to calculate what 5 pips of profit is.

[General Melchett]

I couldn't use standard block to close trades as you would normally use loop or bucket and I needed to close down specific trades within a bucket.

[l'andorrà]

I'm trying to find something like that. If I make it, I will let you know.