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Pips or Points for Futures EA in MT5

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ForexTrader17
1041
ForexTrader17 2016.11.12 18:43 

While using an EA for US Futures markets, do we set profit and loss in pips or points? For example the ES moves in increments of 0.25 and bonds move in increments of 1/32. Did not see fraction in MT5 either.

Thank you. 

Carl Schreiber
6580
Carl Schreiber 2016.11.12 19:32  
I don't know any broker that are offering 'original' futures but only cfd on those and other papers and there those fractions are altered into decimal fractions.
ForexTrader17
1041
ForexTrader17 2016.11.12 21:46  
Carl Schreiber:
I don't know any broker that are offering 'original' futures but only cfd on those and other papers and there those fractions are altered into decimal fractions.
AMP Futures in the US offers MT5 for futures. Trying to figure out for EA.
ForexTrader17
1041
ForexTrader17 2016.11.14 00:58  

I want to confirm how to use the Point Value for futures. If it is the same as pips in forex.

Thanks. 

Carl Schreiber
6580
Carl Schreiber 2016.11.14 18:09  
In mt4 and mt5 these values are provided by the broker. So open an demo account and check it out.
ForexTrader17
1041
ForexTrader17 2016.11.14 19:14  

Thanks. I see the tic values. Say for example in the ES it moves it 0.25 increments. How would I specify 1 pip in the EA?

Thanks. 

Carl Schreiber
6580
Carl Schreiber 2016.11.14 23:22  
ForexTrader17:

Thanks. I see the tic values. Say for example in the ES it moves it 0.25 increments. How would I specify 1 pip in the EA?

Thanks. 

See the discussion about Pips elsewhere here! Pip has been the smallest movement of the prices but the banks decided that this is too big and so they created for most of the symbols the point which has become e.g. for Eurusd 0.1*pip.

Now a pip is an artificial value. Some use for some symbols 10.0*point while (for mt4/5) point and tickvalue are values your broker provides but pip isn't provided by the broker.

I decided for me that 1 pip is the amount of points which is closest to ~10.00 € per 1 lot. Therefore I can calculate this for any symbol - but this is my private definition, even though a stop of one pip costs me always aprox. the same.

ForexTrader17
1041
ForexTrader17 2016.11.15 01:33  

Thanks. So do you know what to use in MT5 while coding an EA that trades an instrument in 0.25 increments?

Thanks. 

Marco vd Heijden
Moderator
4685
Marco vd Heijden 2016.11.15 08:04  

I always upconvert until it becomes a whole number before the decimal point using digits.

This makes it easy to quickly compare movement across all symbols.

So then it will be about movement, not about value.

That would be normalized to movement because 1 pip will be 1 pip (in movement) for all symbols the same.

However if it is about pips in value, it is nessesary to convert all movement into a base, say Dollar value, so then i do the calculations for all symbols to be able to compare movement in value.

These of course are two different things so it basically depends on what you are looking for.

For example if you are working with Renko charts it's all about movement in pips, but if you are working with for example hedging, you want to compare symbols by corelation or value.
Carl Schreiber
6580
Carl Schreiber 2016.11.15 10:14  
ForexTrader17:

Thanks. So do you know what to use in MT5 while coding an EA that trades an instrument in 0.25 increments?

Thanks. 

Your broker will provide SymbolInfoDouble(...) with the option:

SYMBOL_TRADE_TICK_SIZE

Minimal price change


So any price change or price difference like e.g. a stop (=>Bid-stop) for a symbol has to be a multiple of this value.

ForexTrader17
1041
ForexTrader17 2016.11.15 18:00  

Thanks. Where do I find SYMBOL_TRADE_TICK_SIZE in MT5?

Thanks. 

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