What is Pipsize?

Tagged: 

Viewing 15 posts - 1 through 15 (of 30 total)
  • #135865

    Ok guys n Gals

    Something a bit overly basic here for you.

    I’m trawling through trailing stop codes, looking at how people manage to trail, and working through the coding approaches to get what I want done. I have ironed out a lot of the issues  about how the programs are read in practice which shifts th elogic of code writing a bit but here my dilemma is very basic indeed.

    In the 2 I’m currently looking at which is the Dax Kama and another lobbed to me on the forum here, I’m at a loss to what the code “pipsize” refers to as its highlighted like an integer, but there is no help on it in the functions help to say exactly what it refers to, though one might speculate of course.

    So the question is as I dont like guessing.

    What on earth is the programs interpretation of

    PIPSIZE

    Sorry if its a bit basic, but the rest is easy to figure out, I’d like to have something stating what the program sees it as.

    #135866

    Oh forgot to say that I’m assuming it is as described on the tin, that it means it refers to the numerical value of that – i.e what a pip size is for the item being traded, however in th eabsence of a reference to it when th eprogram automatically sees it as a value I’m just seeking clarification that it is the case because there is much thats quircky in how program is read and the sequence you put things in..

    #135868

    Meaningless topic title changed. Please try to use more meaningful topic titles on future topics.

    #135869

    What on earth is the programs interpretation of PIPSIZE

    Pipsize or pointsize or pipvalue is the value of a singe minimum movement of price.

    Pipsize = 1 for Indices, but for Fx it is various values … hence the need to use *pipsize in strategy code.

    #135875

    Pipsize or Pointsize are used when a conversion from prices to pips, or the other way round, is needed, but you don’t want to do the math and, most importantly, you want to write code that is portable among instruments.

    This may help better understand https://www.prorealcode.com/topic/pipsize-confusion/#post-3727

     

    #135882

    Ok cheers Robert that’s straight forward enough.

    I would comment that if a prgoram recognises a prgogram statement and there is contextual help in the program that its important to know what the statement is read as, as much as explaining =, < <= etc, which is as self-explanatory, things like pipsize or pointsize which the program recognises should be written into the programs contextual help, because they are statements that the program recognises, yet there is no obvious reference to see how the program interprets it. I’d argue that its not enough to say its common sense, because so is <, =, or <= etc, so perhaps lets see it incorporated into any update, along with anything else I am probably unaware of if anyones looking.. 🙂

     

    Thanks again.. still trawling through code in my spare time, but have stumbled on a few interesting anomalies through making mistakes that actually work better than the common sense approach when backtesting.

    #135883

    I’ll take on board the issue of topic name…

    Cheers

    #135884

    Cheers everyone… Have a great day.

    #135885

    Philstrading wrote: What on earth is the programs interpretation of PIPSIZE Pipsize or pointsize or pipvalue is the value of a singe minimum movement of price. Pipsize = 1 for Indices, but for Fx it is various values … hence the need to use *pipsize in strategy code.

    Cheers Grahal

    #135889

    so perhaps lets see it incorporated into any update

    I agree re contextual help etc, be good for you to suggest re pipsize and then later anything else when  you come across it … direct to PRT using the Form below

    https://www.prorealtime.com/en/contact?suggestion=1

    #135893

    Pipvalue/Pointvalue is something different, it’s not the size of the smallest price unit, but the VALUE of that price unit.

    In FX, regular Eur/Usd, 1 pip is 0.0001 that is 1/10000th of price.

    Each Pipsize has a Pipvalue of $ 10, that is 1/10000th of the full contract (100K=$10*10000 inits). For mini Eur/Usd Pipvalue is 1.

    1 user thanked author for this post.
    #135912

    so perhaps lets see it incorporated into any update

    I agree re contextual help etc, be good for you to suggest re pipsize and then later anything else when you come across it … direct to PRT using the Form below

    https://www.prorealtime.com/en/contact?suggestion=1

    Cheers GraHal – I’ve just done that, will be useful as I come across these anomalies..

    #135913

    Pipvalue/Pointvalue is something different, it’s not the size of the smallest price unit, but the VALUE of that price unit.

    In FX, regular Eur/Usd, 1 pip is 0.0001 that is 1/10000th of price.

    Each Pipsize has a Pipvalue of $ 10, that is 1/10000th of the full contract (100K=$10*10000 inits). For mini Eur/Usd Pipvalue is 1.

    Thanks Robert, useful as always…

    #176959

    Hi,

    Something seems strange to me for BTC/USD with IG Market (XBTUSD).

    Point = PipSize = 1 according to contract specification on IG Web Site [1], calculation of the spread (140 currently) on IG Web Site [2], value of the PRT variable “PipSize” plotted as an indicator on PRT.

    But the minimum increment of price is clearly 0.1 on charts on IG Web Site [3] and on PRT chart [4].

    So Pipsize does not seem to be the minimum increment of price.

    What do you think?

    Nicolas

    [1]
    1

    [2]
    2

    [3]
    4

    [4]
    5

     

     

    #176965

    Actually, same for EUR/USD with IG Markets.

    Point = PipSize = 0.0001 according to (i) contract specification on IG Web Site, (ii) calculation of the spread (140 currently) on IG Web Site, and (iii) value of the PRT variable “PipSize” plotted as an indicator on PRT.

    But the minimum increment of price is clearly 0.00001 on (i) chart on IG Web Site and (ii) PRT chart.

    Another example where Pipsize does not seem to be the minimum increment of price.

Viewing 15 posts - 1 through 15 (of 30 total)

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