Pip Value Function

Hello,

I’m trying to calculate the lot size in my EA using the formula:

Position Size = Account Balance x Risk percent x 0.01 / (Stop loss in pips x pip value)

I have no issue setting this up, however, I’m stuck with the pip value piece.

Is there a way to automatically get the pip value and assign it to a variable? a custom code maybe? instead of entering the pip value manually as an input whenever the EA is attached to a different pair.

Thanks

Sam

You could use this to get pip value ($$$)
MarketInfo(Symbol(), MODE_LOTSIZE) * Point

It basically multiples the smallest price increment by the contract size. You will get monetary value of the smallest market move.
For forex pairs, “pip value” is 10 times the point value (above)