Convert Dollar into Pips

deejoy · Post by **deejoy** » Tue May 13, 2014 8:51 am

Hi,
i am realy new and need Help.

How can i convert Dollar into pips. I want to know how many Pips I need vor 8$ for example in EUR/JPY.

Can anyone help me ?
Thx

Post by **macman** » Tue May 13, 2014 9:10 am

Welcome to the forum.

If you are really new to all this, maybe start out with one of the excellent free online courses like http://www.babypips.com/school ?

Much of the material here assumes you have a good basic knowledge before dipping in.

Best of luck

deejoy · Post by **deejoy** » Tue May 13, 2014 9:16 am

Hi macman,

i am new in programing mql4 not in trading.
I need a Code snippet

Post by **milanese** » Tue May 13, 2014 11:33 am

this should do what you want

Code: Select all

double tickvalue = MarketInfo(symbol, MODE_TICKVALUE);
    double point     = MarketInfo(symbol, MODE_POINT);
    double ticksize  = MarketInfo(symbol, MODE_TICKSIZE);
// fix for very rare occasion that a change in ticksize causes a tickvalue change
    double real_tickvalue = tickvalue * point / ticksize;           
    double lotsize   = MarketInfo(symbol, MODE_LOTSIZE);
    double PipsOfUSDvalue = USD_VALUE / (	OrderLots() *lotsize* real_tickvalue );

Cheers

Tommaso

deejoy · Post by **deejoy** » Tue May 13, 2014 11:47 am

deejoy · Post by **deejoy** » Tue May 13, 2014 1:50 pm

@milanese

On 5 Digit Pairs (EUR/USD,GBPCAD) all would be fine i get 0,0040 but on 3 Digit Pairs (CAD/JPY, EUR/JPY) something is wrong there i get 0,0040 too but it must be 0,04. How can i fix that ?

Post by **milanese** » Tue May 13, 2014 2:40 pm

deejoy » Tue May 13, 2014 1:50 pm wrote:@milanese

On 5 Digit Pairs (EUR/USD,GBPCAD) all would be fine i get 0,0040 but on 3 Digit Pairs (CAD/JPY, EUR/JPY) something is wrong there i get 0,0040 too but it must be 0,04. How can i fix that ?

in adding a multiplier for JPY pairs...

Cheers

Tommaso