Script for determining the size of slippage when opening orders
Not always placed market orders are executed at the price that we see when opening a transaction; the opening price may differ by several points from the quote price.
This process is called slippage. There are many reasons for the occurrence of slippage, but the size of the price deviation is more important.
Since this deviation can affect the financial result of the transaction when opening short-term transactions using the scalping strategy.
Therefore, it is so important to know how many points the price deviates in your trading platform and if the slippage is quite large, then you may need to think about changing your account or broker.
This script is called “Slippage Calculator” and is designed specifically to obtain data on the average slippage on your account:
As it turned out, my broker’s slippage rate is quite low and does not particularly affect the trading result.
The tool not only shows data on all buy and sell orders, but also displays information with what slippage the stop loss orders were triggered when closing positions.
Information is displayed both in points and in the currency of your account, in the example given it is US dollars.
If we talk about the settings, they are as simple as possible and you should not dwell on them in too much detail.
Days – the number of days for which the calculation is made; if the indicator is 0, the entire account history is shown.
Only Chart symbol – use for calculations only data for one asset whose chart is currently open, or calculate for all symbols.
Slippage Calculator turned out to be quite functional on the metatrader 5 trading platform, but you can try using it on MT4.