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

Master
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.

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11/01/2024 at 11:28 AM #239855 quote
robertogozzi
Moderator

Legend
Create this simple indicator:
```
RETURN PipSize AS "PipSize",PipValue AS "PipValue"
```
get that info (as from my attached pic).

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x.jpg
11/01/2024 at 11:54 AM #239862 quote

Vicke1990
Participant

New

Awesome, thank you so much 🙂

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