OLD TOPIC REVIVED: Price fraction to Pips
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In reference to this old topic and why we would want to deal with price fractions as pips... fxDreema asked a question, and I am supplying an answer.
I can calculate the difference between 2 moving averages, (or other oscillators), using a FORMULA block, and store that difference in a variable as a price fraction. Then I can compare that to a constant that I use to decide to initiate a trade. The constant would actually be a pip value, and the COMPARE block allows the option to represent it as a price fraction for the comparison. So, I am comparing price fraction to price fraction, even though I have input a pip value for the constant. Good so far.
Let's say I would like to see the actual difference in 2 MAs displayed in a comment as a pip value. If the difference was 4.7 pips, and my threshold was 5 pips to initiate a trade, the comments would make it easier to see that the trade was close to initiating, but MA difference just fell short.
Right now, the COMMENT block does not give me the option to represent a price fraction as a pip value.
I think there would be a benefit to add an option to the COMMENT block to choose to show NUMERIC as PIPS. That would solve my desire. It might also be benefitable to roll that option out to MODIFY VARIABLES, FORMULA, and CONDITION blocks as well.
Of course, I am a guy that had a brain tumor and survived. Not guaranteeing anything I think makes sense. Take anything I say with a grain of salt.
Ken
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@jubilant Thak you for your thoughts Ken. I think it would be an interesting option to consider. Maybe the admin can be convinced to implement it.
