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Open Feature request MC-893

Stop Loss and Profit Target parameters
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Description

When using Exit Strategy (Stop Loss and/or Profit Target) it is not possible to enter a price as criteria of exits...
As the criterion 'pips' is not working properly, therefore it is not usable as a 'rescue' solution...

Steps to reproduce this issue

Place an order on a forex market, fxcm for example.
Click on Attach Exit Strategy - Stop Loss and/or Profit Target
Try to enter a price for the Stop Loss and/or Profit Target...
If, as a 'rescue' solution, you plan to set up a number of pips (which requires to calculate in advance the number of pips corresponding to the desired exit prices...) as the value of the Stop Loss and/or Profit Target, then 20 pips is converted into 2 pips due to the big bug of the pip definition into MultiCharts... (see older discussion about this).
I let you imagine the consequences of a 2 pips stop loss on the forex market !

Comments (11)
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#0
user-offline.png MultiCharts Support (MultiCharts)
Apr 02, 2012 - 16:04

Please, attach the screenshot of the symbol settings in QuoteManager.

#0
user-offline.png Stratman (Stratman)
Apr 02, 2012 - 17:00

For the pip definition bug, you can see the screenshots I have attached to MC-298 issue.

#0
user-offline.png MultiCharts Support (MultiCharts)
Apr 05, 2012 - 15:56

I believe the issue is related to MC-891. I'll check this with the engineers and let you know.

#0
user-offline.png Stratman (Stratman)
Apr 05, 2012 - 17:33

Andrew, this has nothing to do with MC-891.
It is not possible to enter a price because the input box for price does not exist.
For engineers, I have attached a screenshot of what exists on the platform that I personnaly consider the most ergonomic to trade manually.

#0
user-offline.png MultiCharts Support (MultiCharts)
Apr 12, 2012 - 14:43

Hello Christian,
The pips offset calculation is taken according to broker prices, no setting in MultiCharts can affect it. The "pip" in this case is considered to be the minimumum price movemement step. Since according to a data feed and symbol settings you may have different format of prices on your chart from broker onesm then comparing to chart pips the pip calculation may seem wrong, however in fact it is not. If you are interested in pips calculation being accurate to chart price format, please slighlty adjust the description of the bug report and transform it to a feature request. I will be glad to set appropiate status.

#0
user-offline.png MultiCharts Support (MultiCharts)
Apr 12, 2012 - 14:49

"When using Exit Strategy (Stop Loss and/or Profit Target) it is not possible to enter a price as criteria of exits..." - not sure i got you correctly. You are able to specify the prices for bracket orders. Please, review the attached screenshot.

#0
user-offline.png Stratman (Stratman)
Apr 12, 2012 - 18:12

Andrew, one more time, I think that my poor English did not express an understandable way of the real problem.
I have attached 2 screen shots showing the only two possibilities to set a Profit Target.
Either by specifying a number of pips, or by specifying a %.
I am surprised that there is no option to enter a price, as what is happening on all other platforms, or what happens by using Master Strategy Exit...
Briefly, how to use price as an exit parameter in the Profit Target and/or Stop Loss strategy.

#0
user-offline.png Stratman (Stratman)
Apr 12, 2012 - 19:06

Andrew, concerning the value of a pip on the forex market, I confirm that the definition used in MC is wrong when the data are expressed with 5 digits after the decimal point (or 3 digits in the case of yen).
This point has already been discussed 
MultiCharts: Trading Software for Automated Trading and Backtesting '¢ View topic - MC7 and Forex market in 1/10 pip
but just ask a forex trader at tss, or with any broker partner of tss.
Currently, to set 10 pips, you should enter 100 pips.
For example, the spread which by definition is the difference between bid and ask, is displayed at 25 pips on eurusd instead of 2,5 pips, etc... 
But just to confirm directly with a forex trader at tss...

#0
user-offline.png Tresor (Tresor)
Apr 13, 2012 - 05:58

while MC-298 should be reported as a bug.

#0
user-offline.png Stratman (Stratman)
Apr 13, 2012 - 06:53

Absolutely agree with you, Tresor !
How to change the current issue type from Bug to Feature Request ??

#0
user-offline.png MultiCharts Support (MultiCharts)
Apr 18, 2012 - 08:00

Issue-298 will remain feature request and will be implemented in future version sof MC.

History
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Issue basics
  • Type of issue
    Feature request
  • Category
    Usability
  • Targeted for
    Not determined
  • Status
    Under Review
User pain
  • Type of bug
    Not triaged
  • Likelihood
    Not triaged
  • Effect
    Not triaged
Affected by this issue (3)
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Issue details
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  • Severity
    Critical
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