- PIP only applies to currencies.
-
PIP, Point, or Tick are all different in general.
Ticks, PIPs or points in the GUI. Make up your mind. - MQL4 programming forum #1 (2014)Unless you manually adjust your SL/TP for each separate symbol, using Point means code breaks on 4 digit brokers, exotics (e.g. USDZAR where spread is over 500 points), and metals. Compute what a PIP is and use it, not points.
How to manage JPY pairs with parameters? - MQL4 programming forum (2017)
Slippage defined in index points - Expert Advisors and Automated Trading - MQL5 programming forum (2018)
- PIP only applies to currencies.
-
PIP, Point, or Tick are all different in general.
Ticks, PIPs or points in the GUI. Make up your mind. - MQL4 programming forum #1 (2014)Unless you manually adjust your SL/TP for each separate symbol, using Point means code breaks on 4 digit brokers, exotics (e.g. USDZAR where spread is over 500 points), and metals. Compute what a PIP is and use it, not points.
How to manage JPY pairs with parameters? - MQL4 programming forum (2017)
Slippage defined in index points - Expert Advisors and Automated Trading - MQL5 programming forum (2018)
Thank you so much William for the great info and the links . I will read them . If you dont mind me asking the most basic of question . You said compute what a PIP is and use it . How do I compute the PIP for the
exotics like USDZAR , GBPMXN etc if not using the points ? Thank you again.

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Is there a near universal method to convert price difference between open and close of any symbol bar to pips . One that works with even exotic pairs and indices . Is it even possible ?
I am currently using the follwing code for the purpose . It works great for most of symbols from the marketwatch but gives very large or weird values for exotics and indices . I dont mind using few more if else statements to make the code give correct pip value for all symbols including exotics , indices and metals , how can I achieve this ? Thank you .
The pairs it gives weird/large values on .