Pip Values
Is the pip size the return value from MarketInfo(..., MODE_POINT)?
Sorry, I missed your message or would have replied earlier.
The PipValue in Dollar is obtained from MODE_TICKVALUE
How do you know if that is for the ask or the bid price? does not the value of a tick depend on the price?
I am directly printing those values from the output that my EA produces.
Also, you can get pip values from here http://www.mataf.net/en/analysis-pipvalue.htm
1 pip of EURUSD (full size lot) = $10. It does not vary whether you are using bid or ask.
1 pip of EURUSD (full size lot) = $10. It does not vary whether you are using bid or ask.
I thought this would depend on lot size and base currency?
Yes, it depends on lot size that your account considers as 1 lot. If it is a mini account from IBFX, it will be displayed at $1 for EURUSD. It also depends on the currency in which the account is operated. In this case US dollars.
Does MODE_DIGITS help?
mode digits is just how many digits after decimal. Usually for JPY pairs it is 2, and the others it is 4.
Are you trying to work out a price, or a trade size?
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I ran a little test to determine the Minimum Pip Size and the Pip Value (in US Dollars). I am attaching my results here.
I was surprised at the minimum pip size for AUDJPY, NZDJPY and CHFJPY. They are 0.001! However, the quotes are in 0.010 increments. That is fine and dandy, but my pip step calculations are blown out of the water with this weird configuration. Does anyone know why or what is the source of this oddity?
Thanks.
21:49:02 Print Properties started for testing
21:49:02 2006.12.14 10:50 Print Properties USDCHF,M1: Pip Size=0.0001
21:49:02 2006.12.14 10:50 Print Properties USDCHF,M1: Pip Value=8.23
21:49:09 Print Properties started for testing
21:49:09 2006.12.14 11:35 Print Properties GBPUSD,M1: Pip Size=0.0001
21:49:09 2006.12.14 11:35 Print Properties GBPUSD,M1: Pip Value=10
21:49:13 Print Properties started for testing
21:49:13 2006.12.14 11:18 Print Properties EURUSD,M1: Pip Size=0.0001
21:49:13 2006.12.14 11:18 Print Properties EURUSD,M1: Pip Value=10
21:49:26 Print Properties started for testing
21:49:26 2006.12.14 10:46 Print Properties USDJPY,M1: Pip Size=0.01
21:49:26 2006.12.14 10:46 Print Properties USDJPY,M1: Pip Value=8.43
21:49:33 Print Properties started for testing
21:49:33 2006.12.14 00:16 Print Properties AUDUSD,M1: Pip Size=0.0001
21:49:33 2006.12.14 00:16 Print Properties AUDUSD,M1: Pip Value=10
21:49:39 Print Properties started for testing
21:49:39 2006.12.27 23:41 Print Properties AUDJPY,M1: Pip Size=0.001
21:49:39 2006.12.27 23:41 Print Properties AUDJPY,M1: Pip Value=0.84
21:50:00 Print Properties started for testing
21:50:00 2006.12.27 13:19 Print Properties USDCAD,M1: Pip Size=0.0001
21:50:00 2006.12.27 13:19 Print Properties USDCAD,M1: Pip Value=8.6
21:50:00 Print Properties started for testing
21:50:00 2006.12.14 21:49 Print Properties EURGBP,M1: Pip Size=0.0001
21:50:00 2006.12.14 21:49 Print Properties EURGBP,M1: Pip Value=19.65
21:50:08 Print Properties started for testing
21:50:08 2006.12.14 04:41 Print Properties EURCHF,M1: Pip Size=0.0001
21:50:08 2006.12.14 04:41 Print Properties EURCHF,M1: Pip Value=8.23
21:50:15 Print Properties started for testing
21:50:15 2006.12.14 13:57 Print Properties EURJPY,M1: Pip Size=0.01
21:50:15 2006.12.14 13:57 Print Properties EURJPY,M1: Pip Value=8.43
21:50:21 Print Properties started for testing
21:50:21 2006.12.14 14:40 Print Properties GBPJPY,M1: Pip Size=0.01
21:50:21 2006.12.14 14:40 Print Properties GBPJPY,M1: Pip Value=8.43
21:50:41 Print Properties started for testing
21:50:41 2006.12.28 14:43 Print Properties GBPCHF,M1: Pip Size=0.0001
21:50:41 2006.12.28 14:43 Print Properties GBPCHF,M1: Pip Value=8.23
21:50:44 Print Properties started for testing
21:50:44 2006.12.14 14:10 Print Properties EURAUD,M1: Pip Size=0.0001
21:50:44 2006.12.14 14:10 Print Properties EURAUD,M1: Pip Value=7.92
21:51:00 Print Properties started for testing
21:51:00 2006.12.28 10:20 Print Properties NZDJPY,M1: Pip Size=0.001
21:51:00 2006.12.28 10:20 Print Properties NZDJPY,M1: Pip Value=0.84
21:51:09 Print Properties started for testing
21:51:09 2006.12.27 07:33 Print Properties NZDUSD,M1: Pip Size=0.0001
21:51:09 2006.12.27 07:33 Print Properties NZDUSD,M1: Pip Value=10
21:51:11 TestGenerator: no history data 'CHFJPY1'
21:51:22 Print Properties started for testing
21:51:22 2006.12.28 01:59 Print Properties CHFJPY,M1: Pip Size=0.001
21:51:22 2006.12.28 01:59 Print Properties CHFJPY,M1: Pip Value=0.84