Beginner Question

New comment
 

In documentation for OrderSend (URL: https://docs.mql4.com/trading/ordersend), sample code shown uses a keyword Point. I am unable to find its declaration so it seems to be a pre-defined variable and seems to co-relate to Pip. I want to figure out whether it is same as a Pip. If it is different, What exactly is it? I cannot find any documentation. Sample code is reproduced here highlighting. There is another function PipPoint that confuses me further.

int ticket;
  if(iRSI(NULL,0,14,PRICE_CLOSE,0)<25)
    {
     ticket=OrderSend(Symbol(),OP_BUY,1,Ask,3,Ask-25*Point,Ask+25*Point,"My order #2",16384,0,Green);
     if(ticket<0)
       {
        Print("OrderSend failed with error #",GetLastError());
        return(0);
       }
    }
 

 

https://docs.mql4.com/predefined/variables/point

On a 5 digit broker, where 0.0001 is equal to one pip, then 0.00001 is equal to one "Point". So 1 Point is 1/10th of a pip.

PIP is actually an acronym for "Percentage Increment Point".

 
clerin6:

https://docs.mql4.com/predefined/variables/point

On a 5 digit broker, where 0.0001 is equal to one pip, then 0.00001 is equal to one "Point". So 1 Point is 1/10th of a pip.

PIP is actually an acronym for "Percentage Increment Point".


Thank you clerin6 for your prompt answer ...

  
//++++ These are adjusted for 5 digit brokers.
int     pips2points;    // slippage  3 pips    3=points    30=points
double  pips2dbl;       // Stoploss 15 pips    0.015      0.0150
int     Digits.pips;    // DoubleToStr(dbl/pips2dbl, Digits.pips)
int     init(){                                             OptInitialization();
     if (Digits % 2 == 1){      // DE30=1/JPY=3/EURUSD=5 forum.mql4.com/43064#515262
                pips2dbl    = Point*10; pips2points = 10;   Digits.pips = 1;
    } else {    pips2dbl    = Point;    pips2points =  1;   Digits.pips = 0; }
    // OrderSend(... Slippage.Pips * pips2points, Bid - StopLossPips * pips2dbl
//---- These are adjusted for 5 digit brokers.
    /* On ECN brokers you must open first and THEN set stops
    int ticket = OrderSend(..., 0,0,...)
    if (ticket < 0)
       Alert("OrderSend failed: ", GetLastError());
    else if (!OrderSelect(ticket, SELECT_BY_TICKET))
       Alert("OrderSelect failed: ", GetLastError());
    else if (!OrderModify(OrderTicket(), OrderOpenPrice(), SL, TP, 0))
       Alert("OrderModify failed: ", GetLastError());
     */
 

clerin6:

PIP is actually an acronym for "Percentage Increment Point".

If I'm not mistaken, PIP is actually an acronym for "percentage in point".  See definition on Wikipedia.
New comment