Purpose Displacement measurement in large-scale structures (such as excavation walls) is one of the most important applications of close-range photogrammetry, in which achieving high precision requires extracting and accurately matching local features from convergent images. The purpose of this study is to introduce a new multi-image pointing (MIP) algorithm is introduced based on the characteristics of the geometric model generated from the initial matching. This self-adaptive algorithm is used to correct and improve the accuracy of the extracted positions from local features in the convergent images. Design/methodology/approach In this paper, the new MIP algorithm based on the geometric characteristics of the model generated from the initial matching was introduced, which in a self-adaptive way corrected the extracted image coordinates. The unique characteristics of this proposed algorithm were that the position correction was accomplished with the help of continuous interaction between the 3D model coordinates and the image coordinates and that it had the least dependency on the geometric and radiometric nature of the images. After the initial feature extraction and implementation of the MIP algorithm, the image coordinates were ready for use in the displacement measurement process. The combined photogrammetry displacement adjustment (CPDA) algorithm was used for displacement measurement between two epochs. Micro-geodesy, target-based photogrammetry and the proposed MIP methods were used in a displacement measurement project for an excavation wall in the Velenjak area in Tehran, Iran, to evaluate the proposed algorithm performance. According to the results, the measurement accuracy of the point geo-coordinates of 8 mm and the displacement accuracy of 13 mm could be achieved using the MIP algorithm. In addition to the micro-geodesy method, the accuracy of the results was matched by the cracks created behind the project’s wall. Given the maximum allowable displacement limit of 4 cm in this project, the use of the MIP algorithm produced the required accuracy to determine the critical displacement in the project. Findings Evaluation of the results demonstrated that the accuracy of 8 mm in determining the position of the points on the feature and the accuracy of 13 mm in the displacement measurement of the excavation walls could be achieved using precise positioning of local features on images using the MIP algorithm.The proposed algorithm can be used in all applications that need to achieve high accuracy in determining the 3D coordinates of local features in close-range photogrammetry. Originality/value Some advantages of the proposed MIP photogrammetry algorithm, including the ease of obtaining observations and using local features on the structure in the images rather than installing the artificial targets, make it possible to effectively replace micro-geodesy and instrumentation methods. In addition, the proposed MIP method is superior to the target-based photogrammetric method because it does not need artificial target installation and protection. Moreover, in each photogrammetric application that needs to determine the exact point coordinates on the feature, the proposed algorithm can be very effective in providing the possibility to achieve the required accuracy according to the desired objectives.