Easylanguage question (forex)

[trader3cnd]

Hello,

The following is portion of Easylanguage code generated by Automatic Pattern Search software (APS) that sets the profit target and stop loss of an entry in points (pips in the case of forex):

input: targetpoints(0), stoppoints(0), multiplier(1);
variables: profitprice(0), stopprice(0);
profitprice = O of tomorrow + ( targetpoints * multiplier) points;
stopprice = O of tomorrow - ( stoppoints * multiplier) points;
sell next bar at profitprice limit;
sell next bar at stopprice stop;

Question: If a EURUSD chart is used and target and stop are both 75 pips, should I set both targetpoints and stoppoints to 0.0075? What is the value of the multiplier then?

Thanks in advance

 

[ManiGandan]

HI,
your Multiplier should be 1/100000 which is 0.00001. your TargerPoints is still 75 .
So the Profitprice will be 75*0.00001 which is 0.00075 and not 0.0075.

Mani.