Pip Value Calculation for cross currencies - Page 2
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Thread: Pip Value Calculation for cross currencies

  1. #11
    Can anyone tell me what rate to use for the quote symbol rate, when calculating currency pairs?

    I suggest USD based rates you need to lookup to convert a cross-pair

    here it just says the current rate, however I don't know what a current rate is...

    is it:Bid ask avg of bid and ask or something else ?

    This website describes calculation really well, however, like most of the others I discovered, does not describe what exactly a current rate is...

    http://forexwinners.ru/forex/calcula...alue-of-a-pip/

  2. #12
    Quote Originally Posted by ;
    can anyone tell me what rate to use to the quote symbol rate, when calculating currency pairs? I mean USD centered rates you want to lookup to convert a cross-pair here it only says that the current rate, but I don't really know what a current rate is... is itbid ask avg of bid and ask or something else? Http://forexwinners.ru/forex/calcula...alue-of-a-pip/
    worth of 1 Pip for a single 10k(0.1 lot) lot of EUR/USD at which the base currency of this account is USD.
    Start with 10,000. Multiply 10,000 by .0001 because 1/10,000th is a pip for all pairs (except JPY pairs). 10,000* .0001 = 1.
    At this point you know every pip is worth 1 USD. That will be appreciated in the counter currency (second currency) of this pair.
    In this instance, we're using the EUR/USD, therefore USD is the counter currency of the pair. Here, 1 pip is worth 1 USD dollar for 1 - 10k lot of EUR/USD.

    Value of 1 Pip for 1 - 10K lot of EUR/GBP at which the base currency of this account is USD.
    Start with 10,000. Multiple 10,000 by .0001 because 1/10,000th is a pip for all pairs (except JPY pairs). 10,000* .0001 = 1.
    At this point you know every pip is worth 1. That will be appreciated in the counter currency (second currency) of this pair. In this instance, we're using the EUR/GBP, therefore GBP is the counter currency of the pair.
    Require the current exchange rate of this GBP/USD and multiply it to calculate the value of 1 pip on your base currency.
    In this instance, GBP/USD is trading at $1.66 and 1 Pip for EUR/GBP would be equal to $1.66 USD.

    Rate will usually be quoted by broker, not spot

    https://www.mql5.com/en/code/12418

    save the hassle

  3. #13
    I believe that is exactly what you're after.

    Double pips = MarketInfo(USDJPY, MODE_TICKSIZE);

    Recall the response is in pipettes for 5 digit broker, so you will need to multiple by 10.

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