Calculating Profit Before Entering Trade

[Michael 0]

Hi Guys,

I'm designing an EA that needs to look at or calculate the profit of a binary option FX pair before entering a trade. Basically I only want to enter binary options trades with a minimum profit of say 89% (should be adjustable). I should also mention that I would like to calculate the profit exactly how it’s calculated and displayed on the iqoptions platform. Only once the profit % condition is met, then I will use indicator signals to enter trades. The EA will be used through MT4 & MT2trading to place trades on IQOption platform, but the quotes are received through optionfield on MT4 platform.

Greatly appreciate any input, thanks.

Michael

[l'andorrà]

I'm not sure I follow you. Do you mean an EA calculating the profit of currently active trades? I mean, do you need to know if their current profit is 89% o more of their target?

[Michael 0]

I’m sure you are familiar with the IQOption platform layout.....now, when you open a binary options or digital options, on the right side the platform displays the ROI % for that particular currency pair. Now, I would like for the EA to calculate this profit % on selected currency pair as I want the first condition to enter trades to be that the ROI % must be 89% or above (this parameter should be adjustable). My other conditions to enter trades such as MA crossovers etc would follow, but I want the EA to only place binary option trades that will generate the specified ROI %.
I hope this clarifies what I’m trying to achieve.

[l'andorrà]

I'm afraid I don't know IQOption platfor at all, sorry. Could you please upload some screenshots?

[Michael 0]

[trader.philipps]

@Michael-0 But this information is just like a win quote of your broker. I don't think there is a way to calculate it.

[Michael 0]

But that’s exactly what I need. I want to ensure that the trade placed by EA has a certain ROI.
Let’s say I have $5000.00 to trade with and I want to be able to place 10 consecutive trades in a row in a martingale sequence. Each one of the 10 trades values have to increase to cover the previous loss and be calculated according to the ROI (which sometimes changes during executing an martingale sequence not to exceed the $5K in the account on the last trade if required. I also want to execute only a specified number of trades per day with a pre calculated profit and if the ROI is not sufficient then I will not reach the set $ value with the set amount of trades.

There has to be a way for the EA to recognize if a trade will have a positive or negative ROI.

[trader.philipps]

@michael-0 I have absolutely no experience with binary options as I believe it's not trading but gambling. However, I checked the MT2trading feature list and it seems to have a filter called "Minimum Payout Filter". So I'd expect that MT4 gives all the signals it generates to MT2trading and the Payout Filter will take only the "good" ones. Or am I totally wrong?