Estimating Open-Position Profit and Loss at a Chosen Price
Summary
This trading utility estimates the deposit-currency profit or loss of open market orders on the current chart symbol at a hypothetical price. The trader places a horizontal line named LP, and the calculation updates as the line moves, showing the projected result at its price.
A MagicNumber parameter can restrict the calculation to orders with a specified magic number; setting it to -1 includes orders for the current symbol without that filter. The document describes a chart-side calculation aid, not an entry or exit strategy. It provides no accuracy tests, formula details, or evidence about how well the estimate handles broker-specific contract or currency conversion rules, so results should be treated as an estimate.
Key ideas
- A horizontal chart line sets the hypothetical price used to calculate open-order profit or loss.
- The estimate is expressed in the account deposit currency.
- A magic number can filter which orders are included, while -1 selects all orders for the current symbol.
- The utility measures hypothetical exposure and does not define a trading strategy.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.