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

• 11/01/2024 at 10:07 AM #239852
  Vicke1990

  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!

  

  Vicke1990

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  11/01/2024 at 11:10 AM #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.

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  Iván, Vicke1990

  

  JS

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  11/01/2024 at 11:28 AM #239855
  robertogozzi

  Create this simple indicator:

  RETURN PipSize AS "PipSize",PipValue AS "PipValue"

  1	RETURN PipSize AS "PipSize",PipValue AS "PipValue"

  get that info (as from my attached pic).

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  Iván, Vicke1990

  

  robertogozzi

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  11/01/2024 at 11:54 AM #239862
  Vicke1990

  Awesome, thank you so much 🙂

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  JS, robertogozzi

  

  Vicke1990

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