I need some explanation regarding PIP value on Indices

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Hello and good evening

I need help to determine the PIPs on Indices such as the SPX500 or the NAS100 or the others.

So far, I know that for example on GBPUSD 1.34518 the fourth digit (1) is the PIP value. But I have problems to determine these on the Indices (see for reference the attached pictures).

I see the SPX500 has a value of 370693. Is the last digit the PIP value? Or take the NAS100: It shows me (at this moment) 12513.4. Is the "4" after the dot the PIP value?

Thanks for your time reading this and thanks in advance for your help

Sebastian

Files:
PIPs1.png  5 kb
PIPs2.png  5 kb
 
 
SebastianSchwelm: I need help to determine the PIPs on Indices such as the SPX500 or the NAS100 or the others.

PIP is only a definition on currencies — meaningless on the others.

PIP, Point, or Tick are all different in general.
          What is a TICK? - MQL4 programming forum 2014.08.03

 

Thank you both very much for this clarification and the hepful links.

Just to be sure, I understood that correctly (English is not my native language): Points is the unit I should go by. Ergo, if the SPX goes from 370693 to 37094 or GBPUSD goes from 1.34518 to 1.3419, both are 1 Point up? As PIPS are different and have different value by trade choice?

Thanks again and have a nice evening!
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