Hello, I imported the “BMI Angle” indicator into my platform 🙁https://www.prorealcode.com/prorealtime-indicators/b-m-i-angle-of-ma/?aid=92609&sa=0).
I have no problems getting it to work but I would also like to understand the idea behind it, but there are some code words that I don’t understand, namely “pipsize” and “ATAN“: what functions do they have and what values do they usually have?
Hi,
Pipsize is the size of a pip, you can see it for each asset by clicking in top bar of a chart on the “i” (information) with square surrounding:
PIPSIZE
Atan is the arctangent, the inverse of tangent:
ATAN
PS: I delete your other post asking the same question in the wrong language forum (as per forum rules at the bottom of this page in yellowbackground, thanks)
Hi JC,
thank you very much for your answers, after them I found the “Arc Tangent” function in the manual and I understood how it works. Instead, unfortunately I still have difficulty understanding the “Pipsize” (or pointsize, or pipvalue) function: according to the explanation you gave me, in fact, and which I found in the glossary, “Pipsize” (being the value in Dollars/Euros of the single “pip”) should be able to be replaced with the absolute value of the “pip” of the chart to which it applies. For example, applying the indicator on the Mini-DAX chart, I should be able to replace the “Pipsize” function in the BMI’s formula with the absolute value 5… but if I do it, the indicator doesn’t work anymore… where am I going wrong? What, I did not understand?
Thank you very much in advance for your patience and your explanations.
JSParticipant
Veteran
Hi
@brian gilbert
In the indicator there is an error, the “pipsize” is used in a wrong way here:
ADJASUROPPO = (MM-MM[nbchandelier]*pipsize) / nbChandelier
Should be changed to:
ADJASUROPPO = ((MM-MM[nbchandelier]) / nbChandelier) / pipsize
In this form, the indicator also works in FOREX.
JSParticipant
Veteran
The pipsize for stocks and indices is usually 1, only with FOREX pairs you see other values for example with EUR/USD the pipsize is 0.0001
The pipvalue is the value of the pipsize in the currency of the contract, for example a contract can have a pipsize of 1 and a pipvalue of 5. So, each (1) point difference is worth 5 euros (when the contract currency is in euros).
In the calculation of the indicator in question, only the pipsize plays a role because the slope is calculated in points
You do not have to adjust the pipsize yourself in the indicator because this is automatic when loading a certain chart.
Thank’s a lot for your explanations!!
