points == pips?

[Dua Yong Rew]

is it the same?

ulong Deviation=20;
mytrade.SetDeviationInPoints(Deviation);

 so is = 20 pips???

[Alain Verleyen]

doshur:

is it the same?

 so is = 20 pips???

Why ?

SetDeviationInPoints

It's clearly in points. A pip is a very unprecise unit.

[Dua Yong Rew]

angevoyageur:

Why ?

It's clearly in points. A pip is a very unprecise unit.

for example eurusd 1.12345

so 20 actually means 0.00020? 

[Sergey Golubev]

• for example (in case of 5 digit broker): buy at 1,30305 and take profit at 1.30605. Profit is 30 pips, or 300 points.
• the other example (in case of 4 digit broker): buy at 1,30305 and take profit at 1.30605. Profit is 30 pips, or 30 points.

pips = 4 digit points in case of 4 digit broker, and 1 pip = 10 points in case of 5 digit broker ... some people say that we will have 6 digit brokers soon :) who knows ...

Many traders are using pips (4 digit points) irrespective of how many digits are having the broker at the price.

[Alain Verleyen]

doshur:

for example eurusd 1.12345

so 20 actually means 0.00020? 

Yes

[Dua Yong Rew]

ok. im clear now. thanks for all the reply

[[Deleted]]

Supports MetaTrader 5, broker with only 4 digits?

[Dua Yong Rew]

FinGeR:

Supports MetaTrader 5, broker with only 4 digits?

I think only 5 digits no 4.

[graziani]

doshur:

for example eurusd 1.12345

so 20 actually means 0.00020? 

 

For calculations on every instrument, you should use this values:

tickSize = SymbolInfoDouble(symbol, SYMBOL_TRADE_TICK_SIZE);
tickValue = SymbolInfoDouble(symbol, SYMBOL_TRADE_TICK_VALUE);

So tickSize is the minimal price change, and tickValue is the value of one tick in the currency of your account.

[Alain Verleyen]

graziani:

Pip is the most precise definition you can have.

One pip is the smallest difference between two values.

So if you have €$ on 5 digits broker, one pip is 0.00001.

For €$ on 4 digits broker, one pip is 0.0001.

For GOLD, one pip is 0.01. 

It's YOUR definition, so of course it's very precise to you. What you said confirm exactly what I wrote  : "A pip is a very unprecise unit." Its definition varies from person to person. What you define as a pip is actually a point.

[graziani]

angevoyageur:
It's YOUR definition, so of course it's very precise to you. What you said confirm exactly what I wrote  : "A pip is a very unprecise unit." Its definition varies from person to person. What you define as a pip is actually a point.

It is not my definition, but a standard definition of a pip. Read the next post.