During trading, every second trader wonders what profit in the deposit currency he will receive if the price passes 10, 20 or 50 points, or reaches the level of the specified level. This information can be manually calculated, because you need to take into account the price of tick, swap, commission, etc.
The DaVinci Profit On Drop script performs only one function – calculates a possible profit or loss at the price at which it was set. All orders for the current pair in any direction are involved in the calculation.
An example of how the script works:
Let’s move the script to the graph (the mouse indicates the place of installation):
The script will take into account the place of installation by the user, as the bid price and will give the result:
On the example above, it turns out that if the price goes about 25 points down, the profit will be 332 dollars for a order with a trading lot equal to 1. As additional information, the income as a percentage of the total account balance is displayed next to the value of the profit.
The calculation of the script goes according to the formula:
(Opening Price – User Price)
Also in the formula is the spread for sales orders. It should be taken into account that the swap is accrued every night in a rollover and if your orders remain open during the transition to the next day, the previously calculated profit will be different from the actual amount of the swap. In this case, you can simply re-start the script the next day.
If the user has two opposite orders with an equal lot, then at any part of the chart the result of the calculation will be the same and equal difference between the amount of these orders.
The script does not have settings, after installation it will immediately give the result on the screen.
Simplicity is the key to success!