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Stan4o1 2015.11.20 21:39 

Hi guys,

 I`m writing to ask about the usage of the POINT variable in MQL4. What does it change when included and in this way how many points equal 1 pip or tick ?

  Thanks :) 

ThreadHandle 2015.11.20 22:40  

The least significant bit, its the smallest digit of the symbol, so 1.23456 its the 6 but represents 0.00001. Useful for converting integers or doubles into standard form. E.G int stoploss = 100; stoploss = Point*stoploss;

stoploss now = 0.001

whroeder1 2015.11.20 23:34  

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()

Stan4o1 2015.11.21 08:56  

Thanks that was very useful :)

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