Symbol.PipSize the same as Symbol.PipValue?

Created at 02 Dec 2019, 18:11

Joined 10.11.2019

Symbol.PipSize the same as Symbol.PipValue?
02 Dec 2019, 18:11

How can I get the exchange rate for a currency pair?

For some reason, everytime I try to print Symbol.PipValue it gives me the same result as Symbol.PipSize. For instance, if i say

Symbol symbol = Symbols.GetSymbol("EURUSD")

then I do

Print(symbol.PipSize," , ", symbol.PipValue)

it would result in

0.0001 , 0.0001

To my understanding, the Symbol.PipValue is supposed to give me the monetary value of one pip, so I am expecting the exchange rate of that pair.

Am I misinterpreting the meaning of Symbol.PipValue?

Edit: I don't know why the HTML code tags are showing up there. Please ignore them.

@alphabet_asa

Replies

PanagiotisCharalampous
03 Dec 2019, 08:33

Hi alphabet_asa,

PipValue will give you the value of a pip in your account's currency. If your account currency is the same with the quote currency then PipValue and PipSize will match.

Best Regards,

Panagiotis

@PanagiotisCharalampous

alphabet_asa
03 Dec 2019, 18:51

RE:

PanagiotisCharalampous said:

Hi alphabet_asa,

PipValue will give you the value of a pip in your account's currency. If your account currency is the same with the quote currency then PipValue and PipSize will match.

Best Regards,

Panagiotis

Thank you for the reply! If that's the case then how do I get the currency's exchange rate?

@alphabet_asa

firemyst
04 Dec 2019, 02:50

RE: RE:

alphabet_asa said:

PanagiotisCharalampous said:

Hi alphabet_asa,

PipValue will give you the value of a pip in your account's currency. If your account currency is the same with the quote currency then PipValue and PipSize will match.

Best Regards,

Panagiotis

Thank you for the reply! If that's the case then how do I get the currency's exchange rate?

HI @alphabet_asa:

Unless I'm missing something, isn't that what the Forex quote (Symbol.Bid, Symbol.Ask) is showing?

For example, if you're looking at the AUDUSD forex pair, and the price quoted is 0.68, then the exchange rate is 1 AUD = $0.68 USD.

Similarly, if you're looking at USDAUD, and the price quoted is $1.46, then the exchange rate is 1 USD = $1.46 AUD.

If you're looking at a foreign market index, then lookup the forex pair of your currency vs that index's currency. Thus, if you're trading the US Dow (US30), and your local currency is New Zealand Dollars, then get the symbol price for either USDNZD or NZDUSD, following the examples above depending on which currency is listed first in the forex pair.

@firemyst

alphabet_asa
16 Dec 2019, 20:22

RE: RE: RE:

firemyst said:

HI @alphabet_asa:

Unless I'm missing something, isn't that what the Forex quote (Symbol.Bid, Symbol.Ask) is showing?

For example, if you're looking at the AUDUSD forex pair, and the price quoted is 0.68, then the exchange rate is 1 AUD = $0.68 USD.

Similarly, if you're looking at USDAUD, and the price quoted is $1.46, then the exchange rate is 1 USD = $1.46 AUD.

If you're looking at a foreign market index, then lookup the forex pair of your currency vs that index's currency. Thus, if you're trading the US Dow (US30), and your local currency is New Zealand Dollars, then get the symbol price for either USDNZD or NZDUSD, following the examples above depending on which currency is listed first in the forex pair.

You're absolutely right. I mistook the meaning of "exchange rate" for something else, but this is what I was looking for all along: the ask and bid.

Thank you!

@alphabet_asa

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