How do you define pipsize/ pointsize, is it needed?

Forums ProRealTime English forum ProOrder support How do you define pipsize/ pointsize, is it needed?

Viewing 4 posts - 1 through 4 (of 4 total)
  • #239852

    Hi,

    I have a question, I haven’t found an answer to,
    If I’m trading an index, ex Swedish OMX “Sverige30 (20SK)”

    Do I need to define that that each pip is worth 20 sek (20 Swedish krona) when using

    “pipsize” or “pointsize” in the code? If yes, how do I do that?

    Thanks!

    #239853
    JS

    PipSize = PointSize
    PipValue = PointValue

    The term “pip” originates from the forex market and represents the smallest possible price change for an asset.
    For each (CFD) contract, the PipSize and PipValue are predefined, and in your case, they are as follows:

    • PipSize = 1: This is the smallest possible change in the price.
    • PipValue = 20: Each pip is worth 20 SEK.

    When you use StrategyProfit in your code, for example:

    Equity = Capital + StrategyProfit

    The Equity and Capital are in monetary values, so you will need to convert StrategyProfit to a monetary value using:

    Equity = Capital + (StrategyProfit * PipSize * PipValue)

    So, whenever you need to convert (index) points to a monetary value in your code, you use PipSize and PipValue.

    2 users thanked author for this post.
    #239855

    Create this simple indicator:

    get that info (as from my attached pic).

    2 users thanked author for this post.
    #239862

    Awesome, thank you so much 🙂

    2 users thanked author for this post.
Viewing 4 posts - 1 through 4 (of 4 total)

Create your free account now and post your request to benefit from the help of the community
Register or Login