Brokers using Fractional Pips

Hello,

When setting a stop loss in EA Wizard do I need to adjust the figure depending on whether my broker uses normal 2 / 4 decimal places or 3 / 5 decimal places (fractional pips)?

Is there code already built into EA Wizard to deal with this or do I need to add some extra code myself or change the stop loss amount?

Thanks in advance,
Chorlton

Just wanted to bump this up in case someone who can answer (such as Mark) missed it……

Cheers…

Hello,

this is already handled in EA Wizard, ti will properly work with 4 and 5 digit brokers.

So you don’t need to do anything and use pips without needing to care who your broker is.

Hello,

 

this is already handled in EA Wizard, ti will properly work with 4 and 5 digit brokers.

 

So you don’t need to do anything and use pips without needing to care who your broker is.

Thanks Mark… that’s good news…..

I asked, as I have read on many forums that additional code is required in order to check the number of decimal places of a price and adjust the pip values accordingly. eg. with a 5 decimal price of 1.12345, the correct pip value is 4.5 is provided rather than 45

as I said this is handled properly in EA Wizard, pip value of 4 will be always 0.0004 (for non-JPY currencies) doesn’t matter if you use 4 or 5 digit broker.