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Point value in account currency

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jeex
87
jeex  

Hi all,

With Point you get the point value of the Quote Currency (QC).

How do i get the Point Value of a pair expressed in my Account Currency (AC)?

So if trading USD/JPY, i want to know the point value of that pair in EUR, as that is my AC.

I know MT4 has a function or constant for that, but i cannot find it anywhere.

Thanks

Carl Schreiber
7087
Carl Schreiber  

MarketInfo(Symbol(),MODE_TICKVALUE) ?  Tick value in the deposit currency

or SymbolInfoDouble(Symbol(),SYMBOL_TRADE_TICK_VALUE) ?

jeex
87
jeex  

Yeeee,

Thanks gooly. I knew it was somewhere, but the word Tick is a bit confusing in this context.

Anyway, it works

whroeder1
15553
whroeder1  
gooly: MarketInfo(Symbol(),MODE_TICKVALUE) ?  Tick value in the depositcurrency or SymbolInfoDouble(Symbol(),SYMBOL_TRADE_TICK_VALUE) ?
jeex: I knew it was somewhere, but the word Tick is a bit confusing in this context.

There is Tick, PIP, and Point. They are all different in general. A tick is the smallest change of price. A Point is the least significant digit quoted. In currencies a pip is defined as 0.0001 (or for JPY 0.01)

On a 4 digit broker a point (0.0001) = pip (0.0001). [JPY 0.01 == 0.01] On a 5 digit broker a point (0.00001) = 1/10 pip (0.00010/10). Just because you quote an extra digit doesn't change the value of a pip. (0.0001 == 0.00010) EA's must adjust pips to points (for mq4.) In currencies a tick is a point. Price can change by least significant digit (1.23456 -> 1.23457)

In metals a Tick is still the smallest change but is larger than a point. If price can change from 123.25 to 123.50, you have a TickSize of 0.25 and a point of 0.01. Pip has no meaning.

This is why you don't use TickValue by itself. Only as a ratio with TickSize. See DeltaValuePerLot()

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