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Order Execution

Fill / fill price

The fill price is the price at which an order was actually executed on the exchange or broker, as opposed to the price in the signal or the limit price you asked for; when an order executes in several pieces, the average fill price is the size-weighted average of those pieces.

Why it matters

Every calculation that matters, from profit and loss to the distance to your stop and the risk-reward ratio, depends on the fill price, not on the signal price. A stop-loss defined in pips or percent from entry must be measured from the real fill, otherwise the protection is placed at the wrong distance. A dashboard that shows the requested price instead of the fill hides slippage and makes losing trades look better than they were.

How AlgoVesta handles it

AlgoVesta writes a trade to your account only from the venue's own confirmation: the entry price, quantity and order identifiers come from the exchange's acknowledgement or from the MetaTrader 5 terminal's position data, never from the values that were requested. When a fallback stop or target is defined in pips or percent, the levels are calculated from the actual fill, and if a target from the signal turns out to be on the wrong side of the fill it is skipped rather than placed. Fill prices, quantities and the resulting profit or loss are shown in the dashboard exactly as the venue reports them, without rounding, and closed trades are reconciled against the exchange's trade history. Details on the crypto automation page and in the slippage entry.

Example

A signal says "XAUUSD BUY 2410.00, SL 20 pips". The market order fills at 2410.35. AlgoVesta places the stop at 2408.35, twenty pips below the fill, not at 2408.00, and the dashboard shows the entry as 2410.35. If the position later closes at 2414.10, the recorded gain is 3.75 points on the actual fill, not 4.10 on the signal price.

Common mistakes

In practice

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