PipSize is a term used in the ProBuilder programming language to represent the smallest price increment that can be traded in the financial markets. This term is synonymous with PointSize, and it is crucial for traders and programmers to understand and use it correctly to manage trade sizes and risk accurately.

Syntax:

PipSize

Example:

Suppose you want to convert a points distance into the real price movement. You can use the PipSize to determine this value accurately. Here is a simple example:

// Assuming my desired stoploss value is 10 pips
MyStopLoss = 10
SET STOP LOSS MyStopLoss * PipSize

In this example, the PipSize is particularly useful for a true conversion of a points distance. The script calculates the accurate stoploss value according to the instrument pip size. If the current instrument has a pipsize of 0.0001, then the 10 pips distance is correctly set to 10 * 0.0001 = 0.0010 pips.

Additional Information:

• The PipSize can vary between different markets and should be adjusted accordingly in your trading scripts.
• PIPSIZE is similar to POINTSIZE instruction.
• Understanding PipSize is essential for managing risk and determining the potential profit or loss per price movement in trading strategies.

This term is fundamental in trading-related programming and calculations, making it a critical component of financial market analysis and strategy development in the ProBuilder language.