How do you define pipsize/ pointsize, is it needed?

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  • 11/01/2024 at 10:07 AM #239852 quote
    Vicke1990
    Participant
    New

    Hi,

    I have a question, I haven’t found an answer to,
    If I’m trading an index, ex Swedish OMX “Sverige30 (20SK)”

    Do I need to define that that each pip is worth 20 sek (20 Swedish krona) when using

    “pipsize” or “pointsize” in the code? If yes, how do I do that?

    Thanks!

    11/01/2024 at 11:10 AM #239853 quote
    JS
    Participant
    Senior

    PipSize = PointSize
    PipValue = PointValue

    The term “pip” originates from the forex market and represents the smallest possible price change for an asset.
    For each (CFD) contract, the PipSize and PipValue are predefined, and in your case, they are as follows:

    • PipSize = 1: This is the smallest possible change in the price.
    • PipValue = 20: Each pip is worth 20 SEK.

    When you use StrategyProfit in your code, for example:

    Equity = Capital + StrategyProfit

    The Equity and Capital are in monetary values, so you will need to convert StrategyProfit to a monetary value using:

    Equity = Capital + (StrategyProfit * PipSize * PipValue)

    So, whenever you need to convert (index) points to a monetary value in your code, you use PipSize and PipValue.

    Vicke1990 and Iván González thanked this post
    11/01/2024 at 11:28 AM #239855 quote
    robertogozzi
    Moderator
    Master

    Create this simple indicator:

    RETURN PipSize AS "PipSize",PipValue AS "PipValue"

    get that info (as from my attached pic).

    Vicke1990 and Iván González thanked this post
    x.jpg x.jpg
    11/01/2024 at 11:54 AM #239862 quote
    Vicke1990
    Participant
    New

    Awesome, thank you so much 🙂

    robertogozzi and JS thanked this post
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How do you define pipsize/ pointsize, is it needed?


ProOrder: Automated Strategies & Backtesting

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Vicke1990 @vicke1990 Participant
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This topic contains 3 replies,
has 3 voices, and was last updated by Vicke1990
1 year, 3 months ago.

Topic Details
Forum: ProOrder: Automated Strategies & Backtesting
Language: English
Started: 11/01/2024
Status: Active
Attachments: 1 files
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