Repost: Value of PIP in USD

Forex Trader
114557
Forex Trader  
Hello all,

I'm sure this is simple, but it has me confused.

EURUSD, GBPUSD, NZDUSD, the pip value in USD is a whole number (for 1 lot of EURUSD each pip is worth $10).

This is not necesarily so for EXOTIC, or CAD or JPY pairs... they come in at various values USD...

Is there a way to PROGRAMATICALLY deterimine the PIP value in USD... PRIOR to placing the trade and dividinig known values... ?

Thank you for the help!

-charliev
Forex Trader
114557
Forex Trader  
If I understood your question correctly, you were interested in a programmatic method of determining the amount of dollars and cents made or lost based on a 1 pip move in a currency. If so, below is the code:

double DollarValuePerPip = 0.0;
DollarValuePerPip = MarketInfo(Symbol(),MODE_TICKVALUE);


Take care,
Peter Apfelbacher
Forex Trader
114557
Forex Trader  
Note only that MarketInfo(Symbol(),MODE_TICKVALUE) returns "Tick value in the deposit currency." See "MQL4: MarketInfo"
Forex Trader
114557
Forex Trader  
If I understood your question correctly, you were interested in a programmatic method of determining the amount of dollars and cents made or lost based on a 1 pip move in a currency. If so, below is the code:

double DollarValuePerPip = 0.0;
DollarValuePerPip = MarketInfo(Symbol(),MODE_TICKVALUE);


Take care,
Peter Apfelbacher


Many thanks Peter, This looks like it!
-charlie
Forex Trader
114557
Forex Trader  
Note only that MarketInfo(Symbol(),MODE_TICKVALUE) returns "Tick value in the deposit currency." See "MQL4: MarketInfo"



Thank you Rosh!
-charliev
Forex Trader
114557
Forex Trader  
Yes, it works very well. Thank you very much, Peter. This is THE solution I was long looking for!
On the other hand, I've noticed that for Gold, it gives $10/pip while open orders make $2.50/pip.
Does anybody know why?
Arturo Lopez Perez
792379
Arturo Lopez Perez  
Forex Trader:
Note only that MarketInfo(Symbol(),MODE_TICKVALUE) returns "Tick value in the deposit currency." See "MQL4: MarketInfo"
Tick value in deposit currency for what lotsize? One lot?
Stanislav Korotky
33194
Stanislav Korotky  
Arturo Lopez Perez:
Tick value in deposit currency for what lotsize? One lot?
Yes.