I have started Forex Trading again after an absence of around 10 years. I have downloaded MetaTrader 5 and when using the cross hair tool to draw a line over several bars, the following is shown:
1.22222: 8 bars, 531 points
Does 'points' refer to 'pips'? It seems strange that in MetaTrader 4 (as I've seen in youtube videos) the crosshairs appears to label the distance in pips.
Any pointers would be most appreciated, Cheers!
MT5 crosshairs shows points. It's labeled as such.
10 points to a pip for symbols ending in 3 or 5 digits.
Cheers Anthony. So do Forex markers mostly measure their trades in points nowadays instead of pips? It seems counter-intuitive to me to work out what the pip value is for points but maybe that's because I've been out of the game for a while! :)