POINTS or PIPS in spread indicator | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Flappy Pips - How to keep your hard earn PIPS 7 replies

MT4 Strategy Tester Spread - pips or points? 1 reply

I lose 40 pips and win 6 to 10 pips... 17 replies

Spread trading - an indicator and/or ea showing the spread 2 replies

spread on GBP/JPY @ alpari is 12 pips intead of 7 pips they claimed to be 6 replies

Attachments: POINTS or PIPS in spread indicator
Exit Attachments

POINTS or PIPS in spread indicator

  • #1
  • First Post: Dec 3, 2014 12:19am Dec 3, 2014 12:19am
The Spread Indicator I Downloaded for MT4 is showing the spread numbers as Points.

Are points the same as pips?Is any math necessary to convert the points to pips?
And, if so what is the formula please?Thanks in advance.
  • #2
  • Dec 3, 2014 12:34am Dec 3, 2014 12:34am
Quoting Ichifan
The Spread Indicator I Downloaded for MT4 is showing the spread numbers as Points. Are points the same as pips?Is any math necessary to convert the points to pips? And, if so what is the formula please?Thanks in advance.
If you are on a 5 digits broker, 1 pip = 10 points ... so if your spread is 40, it is 4.0 pips
MT4/MT5 EAs/Indicators/Alerts coder
  • #3
  • Dec 3, 2014 12:44am Dec 3, 2014 12:44am
Thank you very much. Yes, I am on a 5 digit platform. I didn't know that there are any current platforms stylizing 4 digits. And I don't understand why an FX Trader would want to use points?
It must be a recent thing I suppose, to chop pups into smaller parts.
  • #4
  • Dec 3, 2014 12:50am Dec 3, 2014 12:50am
Quoting Ichifan
I don't understand why an FX Trader would want to use points?
In some cases, that's great to have the possibility to use for example 2.5 pips instead of 2 or 3. Few years back before 5 digits were "released", there was no way to use pips with decimal.
MT4/MT5 EAs/Indicators/Alerts coder
  • #5
  • Dec 3, 2014 1:57am Dec 3, 2014 1:57am
The metatrader clearly shows that a pip is the 5th decimal while on this forum all along people say a pip is still the 4th decimal which is quite stupid IMHO.
  • #6
  • Dec 3, 2014 4:20am Dec 3, 2014 4:20am
Quoting Vitez
The metatrader clearly shows that a pip is the 5th decimal while on this forum all along people say a pip is still the 4th decimal which is quite stupid IMHO.
Are you serious ???

The last decimal on a 5 digits is a 1/10th of a pip.
MT4/MT5 EAs/Indicators/Alerts coder
  • #7
  • Dec 3, 2014 5:58am Dec 3, 2014 5:58am
Quoting FerruFx
{quote} Are you serious ??? The last decimal on a 5 digits is a 1/10th of a pip.
The definition of a pip is the smallest amount an instrument can move. So in metatrader when you set SL/TP and put a mouse over that SL/TP it will show as 5th digit being 1 pip.
  • #8
  • Dec 3, 2014 6:01am Dec 3, 2014 6:01am
Quoting Ichifan
The Spread Indicator I Downloaded for MT4 is showing the spread numbers as Points. Are points the same as pips?Is any math necessary to convert the points to pips? And, if so what is the formula please?Thanks in advance.
all of the spread indis i have tried with mt4 have a bug when trying to select them to only appear on one time frame and not others. could you maybe verify this?
  • #9
  • Dec 3, 2014 6:54am Dec 3, 2014 6:54am
I just tested this one by changing the periodicity using several time frames. It woked for me. I hope it helps
Attached File(s)
File Type: mq4 Spread.mq4   3 KB | 1,952 downloads
  • #10
  • Dec 3, 2014 7:11am Dec 3, 2014 7:11am
Quoting Vitez
{quote} The definition of a pip is the smallest amount an instrument can move. So in metatrader when you set SL/TP and put a mouse over that SL/TP it will show as 5th digit being 1 pip.
With all due respect, you are wrong if we are on a 5 digits broker.

What you are refering is point not pip.

You are right on a 4 digits broker.
MT4/MT5 EAs/Indicators/Alerts coder
  • #11
  • Dec 3, 2014 7:11am Dec 3, 2014 7:11am
Quoting Ichifan
I just tested this one by changing the periodicity using several time frames. It woked for me. I hope it helps {file}
thanks, i don't know why this happens with a few indicators for me. tried different mt4 installs and different windows os, also all manner of changing periods/editing indi and profile and chart changing : /

i place the indicator on a daily chart and select it to only show on h1 but it still shows on daily. the only other person to have the same results so far was the live support at pepperstone
  • #12
  • Dec 3, 2014 8:04am Dec 3, 2014 8:04am
Quoting FerruFx
{quote} With all due respect, you are wrong if we are on a 5 digits broker. What you are refering is point not pip. You are right on a 4 digits broker.
http://www.investopedia.com/terms/p/pip.asp

"The smallest price change that a given exchange rate can make."

broker is Alpari and same is at IC Markets


............
Attached Image (click to enlarge)
Click to Enlarge Name: pips.JPG Size: 241 KB
  • #13
  • Dec 3, 2014 8:16am Dec 3, 2014 8:16am
Quoting Vitez
{quote} http://www.investopedia.com/terms/p/pip.asp "The smallest price change that a given exchange rate can make." broker is Alpari and same is at IC Markets ............ {image}
The chart you are showing is 16.8 pips profit not 168.

From 1.3100 to 1.3000 is 100 pips

From 1.31000 to 1.30000 is still 100 pips

The 5th digit is called "pipette" ... 10 pipettes = 1 pip
MT4/MT5 EAs/Indicators/Alerts coder
  • #14
  • Dec 3, 2014 9:58am Dec 3, 2014 9:58am
Quoting FerruFx
{quote} The chart you are showing is 16.8 pips profit not 168. From 1.3100 to 1.3000 is 100 pips From 1.31000 to 1.30000 is still 100 pips The 5th digit is called "pipette" ... 10 pipettes = 1 pip
It says "pips 168" doesn't it?

its the people who didn't adapt to the 5th decimal...yes a pip was 4th but now its 5th decimal.
  • #15
  • Dec 3, 2014 10:28am Dec 3, 2014 10:28am
Quoting Vitez
The metatrader clearly shows that a pip is the 5th decimal while on this forum all along people say a pip is still the 4th decimal which is quite stupid IMHO.
Agreed
Learn, a forex trader must, unlearn and relearn he will.
  • #16
  • Dec 3, 2014 1:33pm Dec 3, 2014 1:33pm
Go back to School & Study please.

http://www.babypips.com/school/presc...-pipettes.html
It never gets easier, you just get better
  • #17
  • Dec 3, 2014 5:32pm Dec 3, 2014 5:32pm
Quoting Vitez
{quote} It says "pips 168" doesn't it? its the people who didn't adapt to the 5th decimal...yes a pip was 4th but now its 5th decimal.
A pip on EURUSD is 0.0001 (or 0.00010 which is the same) ... not matter what you are thinking.

Your 168 isn't pips but pipettes ... If you don't know the difference, I would highly suggest you to learn it before trading live.
MT4/MT5 EAs/Indicators/Alerts coder
  • #18
  • Dec 3, 2014 5:33pm Dec 3, 2014 5:33pm
Quoting Shabs19
Go back to School & Study please. http://www.babypips.com/school/presc...-pipettes.html
MT4/MT5 EAs/Indicators/Alerts coder
  • #19
  • Dec 3, 2014 6:37pm Dec 3, 2014 6:37pm
Quoting FerruFx
{quote} Are you serious ??? The last decimal on a 5 digits is a 1/10th of a pip.
Agreed.

We used 5 decimals in the Banks I worked in... and the 4th decimal (the 2nd decimal in the case of JPY pairs) has always been a "pip".

We didn't even call the 5th decimal (the 3rd decimal in the case of JPY pairs) by any special name like "points" or "pippettes". It's just a 10th of a "pip".
I'm not trying to convince anyone. I'm not in the "convincing" business.
  • #20
  • Dec 3, 2014 7:42pm Dec 3, 2014 7:42pm
Quoting skenobi
It's just a 10th of a "pip".
That was my point ...
MT4/MT5 EAs/Indicators/Alerts coder
0 traders viewing now