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EA to show pip value on chart

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rwwood
24
rwwood 2015.02.11 03:15 

I have been looking unsuccessfully for an indicator that would place the current dollar value per pip on the chart. I know that there are a number of online pip calculators that give a real time value, but I'd like to have the value for each pair as part of the MT4 screen. If anyone knows of such an indicator, I'd appreciate knowing where to find it.

 Thanks. 

Stuart Browne
5816
Stuart Browne 2015.02.11 08:50  
rwwood:

I have been looking unsuccessfully for an indicator that would place the current dollar value per pip on the chart. I know that there are a number of online pip calculators that give a real time value, but I'd like to have the value for each pair as part of the MT4 screen. If anyone knows of such an indicator, I'd appreciate knowing where to find it.

 Thanks. 

This should be what you're after. Just drop into your code and should show you value of 1 point per 1 standard lot in your deposit currency. You can then easily convert it into pips or different lot sizes in the code

Comment((MarketInfo(Symbol(),MODE_TICKVALUE)*Point)/MarketInfo(Symbol(),MODE_TICKSIZE));
rwwood
24
rwwood 2015.02.13 16:51  

Thanks for your response. Since I'm new to MetaEditor, I don't know where to start to be able to use the snippet you provided. Essentially, I just want to display on the chart the pip value for whatever pair the chart is for.

 Thanks.

Stuart Browne
5816
Stuart Browne 2015.02.13 23:53  
rwwood:

Thanks for your response. Since I'm new to MetaEditor, I don't know where to start to be able to use the snippet you provided. Essentially, I just want to display on the chart the pip value for whatever pair the chart is for.

 Thanks.

Well you're in luck - I just released it as an indicator in CodeBase :) Hope it helps:

Simple Pip Value Calculator 

rwwood
24
rwwood 2015.02.14 02:58  

Fantastic! Thanks!

But isn't the calculation of the pip value 10 times larger than it should be? For example, a standard contract (100,000 units) of EURUSD has a pip value of $10. But the indicator is displaying the pip value as $100. 

Stuart Browne
5816
Stuart Browne 2015.02.14 03:58  
Quite correct! Should have spent a bit more time checking my calculations :) New version uploaded (may take a few days to get through moderation)

Cheers
rwwood
24
rwwood 2015.02.15 23:22  
The indicator is also not calculating the crosses correctly, ie, AUDJPY, EURGBP.
Stuart Browne
5816
Stuart Browne 2015.02.15 23:52  
That's strange, working fine here. What is the error? And what broker are you with?
Stuart Browne
5816
Stuart Browne 2015.02.16 09:06  

As well as the above, please try to use the new code posted here and let me know if you still have problems.


Cheers
Stu 

rwwood
24
rwwood 2015.02.20 06:44  
I'm with Oanda. For any of the non-dollar crosses, ie EURJPY, the pip value is showing as $8.409. That is all of the non-dollar crosses is that same value. The new version is giving the right values for the other pairs, however.
Stuart Browne
5816
Stuart Browne 2015.02.20 07:30  
rwwood:
I'm with Oanda. For any of the non-dollar crosses, ie EURJPY, the pip value is showing as $8.409. That is all of the non-dollar crosses is that same value. The new version is giving the right values for the other pairs, however.

That is correct. You can check the values of the EA with any of the online calculators such as this one - you should get the same result as the EA

 

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