How to calculate in $ the 1 PIP / 1 POINT value of EURUSD in Meta Trader 4 ?

[Piotr]

Hi,

I have opened a micro account where 1 micro lot equals 0.01 Lots. How can I calculate 1 PIPS value of EURUSD for opened 0.01 Lot position in USD? And how can I calculate the value of 1 PIPS/Points into USD for the other currency pairs? Is there any function on Meta Trader 4 ? MarketInfo() function does not calculate this basic information... I don't know why?

For example:

EURUSD 1 PIPS for 0.01 Lots = 0.10 USD

EURJPY 1 PIPS for 0.01 Lots = 0.15 USD

USDJPY 1 PIPS for 0.01 Lots = 0.08 USD

How to calculate above in MQL?

Regards,

puncher

[Pilot65]

You don't need to, MT4 does this for you, all you need to do is access the data !

double MarketInfo(string symbol, MODE_TICKVALUE )

gives you the TickValue for 1 (whatever) lot. You may need to multiply by 10 to get to 'normal' decimal pips, and multiply by Lots
MarketInfo only works if the terminal is logged on.

[Piotr]

DayTrader:

You don't need to, MT4 does this for you, all you need to do is access the data !

gives you the TickValue for 1 (whatever) lot. You may need to multiply by 10 to get to 'normal' decimal pips, and multiply by Lots
MarketInfo only works if the terminal is logged on.

thank you

[William Roeder]

TICKVALUE will give the equity change in the account currency for one Point one lot.

// IBFX demo/mini reports EURUSD TICKVALUE=0.1 MAXLOT=50 LOTSIZE=10,000
// I expected				   1.0			100,000
// In tester I had a sale: open=1.35883 close=1.35736 (0.00147)
// gain$=97.32/6.62 lots/147 points=$0.10USD/point.

[Julius Mwangi Maina]

what about in mql5??

[Keith Watford]

Julius Mwangi:
what about in mql5??

This is the MQL4 section.

Please do not ask questions relating to MQL5 here.