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You must login or register to post a reply. FSB calls "pip" the last digit of a quotation. But FSB calls pip what is think a point. Do you think it's good idea to do so? I think it would be better to maintain a consistent definition of Pip as being the 2nd digit after the broker 4 digit numbers point in JPY pairs, and the 4th digit after the decimal point in non-JPY pairs, and whatever is the correct digit in Metals in FSB, and to convert to Broker 4 digit numbers in the EA, as we now have some brokers that use 5 digits for some non-JPY symbols, and 4 digits for other non-JPY symbols.
We've had this problem for years It comes from the definition of a pip that was used before brokers started using 5 digits, "A Pip broker 4 digit numbers the last digit Once brokers started using 5 digits, that definition became ambiguous. By having a standard definition of a pip, we will eliminate one source of confusion in setting up FSB, and will prevent the situation where we have to ask someone that posts a system, "Are you using a 4 digit or 5 digit broker?
On Steve Hopwood's forum, a user by the name of Broker 4 digit numbers came up with a conversion system that has become standard in all of Steve's EA's. I'm not a coder, so can't dig out the relevant code, but it's in Steve's collection, which I've attached. Shell auto trading robot code - bare bones. That's exactly the problem. FSB uses broker 4 digit numbers everywhere. They were called pips since point was equal to pip in the broker 4 digit numbers when I published FSB.
Long I refused to change the program because I wanted to keep the theory: Pip is the smallest that can be changed and 1 Lot is the smallest that can be traded.
But the world has changed. FSB has to be change too unfortunately. Renaming Pips to Points seems to be the next one. Yep, broker 4 digit numbers do like to try and keep us confused. You broker 4 digit numbers be sure that once broker 4 digit numbers use a work-around that counts the digits from right to left, they'll introduce a 6th digit to break our systems again. They can tack on as many extra digits as they like, and it won't break anything.
I don't think renaming Pips to Points is the way to go, though Better to have a clear numerical definition for each, and a simple conversion method.
What about the third case? I think you should change pips to points everywhere and modify all calculations that give an answer in pips.
If a trader can't work out how many points is equal to one pip he should be trading. Not only answers, but as well as the input parameters. Broker 4 digit numbers, slippage and commission also has to be in pips. Everything works fine at the moment, just change any reference of pips to points to avoid the broker 4 digit numbers.
I already started this change. If we name the params properly to Points, everything will be correct. The other option is to change the meaning of Pip as I posted 3 posts above. But I'm afraid that will be a big mess with indicators and strategies.
The more I think about it, the more I tend to leave all params and results in Points. Pips is really a forex only term. I think that with many other contracts like metals and stock indices available to trade on the MT4 platform now the need for a simple system that can be used across all of these is required. I can't see Gold traders using the term pips. Now we're on the money! The third case will become tricky when we have a symbol that has 1 digit for Pips and a broker decides he wants to add a 2nd digit for Points.
The way around that is to have definitions for those symbols. And there's where we get back to ambiguity. Unless the user can input exactly what their broker calls a Pip, and what they call a Point, we'll always have some users that get spurious results when generating strategies.
I'll rename "Pips" texts to "Points" for now. Point is always the smallest change or last digit. I changed Pips to Points.
It's mostly a cosmetic change. All settings, indicators and strategies are compatible. When there were no 5 digits quotations, the saying was, "A Pip is the smallest value that can be changed", the we got the smart-guy broker who decided to start quoting 5 digits, just to confuse people, which worked quite wellso people started calling the 5th digit a Point, saying "A Point is the smallest value that can be changed".
And so the confusion continues Would ignoring the 5th digit 3rd digit on JPY pairs break the system and indicators? Can we do all our calculations to the 4th decimal place without skewing the results too much? Pipettes is a BabyPips term. I know I"m the new kid on the block here, and am being a bit pushy, but to me, the terms "Last digit" and "Smallest value that can be changed" are about as mathematically precise as "A bunch", and it's hard to do a bunch of calculations when the value of the terms vary.
I use a 5 digit broker, I tend to see 1 Pip as 10 Points, as that's what I've broker 4 digit numbers up" with in forex, but it's hard to know what's broker 4 digit numbers when Pips and Points are used interchangeably. No matter than the data are with 5 digits.
FSB will work correctly. What you do when using MT experts. You set everything in points. Ahhh, just what I needed, thank you. I'm going to broker 4 digit numbers fun with this baby now. The easy way to check your settings is to use FST. Connect to your chart and press "Market Info". Actually, I have used very few experts where I had to enter 50 to get 0. I guess Broker 4 digit numbers been spoiled, as I mostly use experts written by Steve Hopwood, and he adamantly refuses to accept the 5th digit in any input for them Every external input is converted to the 4th digit and up.
He's gone as far as setting the inputs as integers, so that we can't enter 2. I just wrote a short tutorial about that and was going to link it in broker 4 digit numbers Doug's topic. You are not logged in. Please login or register. Pages 1 You must login or register to post a reply. RSS topic feed Posts: Radar Member Offline Registered: Popov Lead Developer Offline From: The easiest way for understanding FSB is where you see pips to think that this is point.
FSB Pro will use the correct therm point instead of pip. I just searched FSB Project for "pip". Post's attachments Shell auto trading robot code - bare bones. Pip-Point Conversion We've had this problem for years SpiderMan Senior member Offline From: Pip-Point Conversion Popov wrote: Pip-Point Conversion I think you should change pips to points everywhere and modify all calculations that give an answer in pips.
Pip-Point Conversion Everything works fine at the moment, just change any reference of pips to points to avoid the confusion. Pip-Point Conversion Pips is really a forex only term.
Project for FSB v3. Pip-Point Conversion I use a 5 digit broker, I tend to see 1 Pip as 10 Points, as that's what I've "grown up" with in forex, but it's hard to know what's what when Pips and Points are used interchangeably. Enter these params in FSB.