Point Format
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Although I've had a look at search results on this forum for point format, I'm still not clear on the spread value visible on the bottom left of the chart and the broker's chart point format.
My broker is Alpari, and on EURJPY they show a price of 129.934, implying a 3 point format (0.001 in fxDreema Project Options). However, to obtain a correct spread reading in the bottom left hand corner of the chart I need to put 0.0001. They advertise EURJPY from 2.2 pips to 3.2 pips spreads.
I feel hopelessly lost in trying to figure this out! Is there some way that an EA can simply self-adjust to the market spread it finds itself looking at without me having to trial and error the point format? Or is there some formula I can use manually to enter the correct point format?
Thanks again!
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http://fxdreema.com/documentation/colle ... 4/pipvalue
This function is located all around the EA and it is used to tell the EA to use the point format defined in fxDreema.
"POINT_FORMAT" is the value defined in fxDreema's options. "digits" comes from the broker, it is 5 in case of 0.00001.
For example, in case of EURUSD in 5-digits broker and Point format set to 0.0001 in fxDreema, the function will return 10. This value (10) will be used in the EA to multiply every pips-related value with it. If you want to put SL=25 pips, this will be multiplied with 10, so the real SL will be 250 points.
If your broker is 4-digits and Point format is 0.0001, then the value returned from this function will be 1.This function is to tell the EA to NOT use the broker's point format, but to use the point format defined in fxDreema.
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Hi, and thank you for the reply.
What I'm still not understanding is why on my EURJPY, showing say 129.934, do I have to specify a point format of 0.0001 in fxDreema options to get the spread in the chart to show the correct figure.
Alpari seem to offer varying point formats for different markets.
...or am I being totally stupid - again!
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Point Format setting in fxDreema must be set to something.
What is that "correct" value of the spread for EURJPY? When I use the crosshair on my chart, the spread is 25 points. I assume this is 2.5 pips.
EURJPY is 3-digits, so PipValue function works with it as it is 5-points. It will do that calculation - POINT_FORMAT/0.00001. When Point format of 0.0001 is used, everywhere in the EA it will multiply pips values with 10. Set "25" pips for SL, it will translate that to 250 points on the chart. Just imagine that EURJPY (3 digits) is like EURUSD (5 digits)
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Point format setting exists only to make the EA to work the same way on different brokers. Some brokers are 4-digits, others are 5-digits and normally when you are in 5-digits broker you have to enter value 10 times bigger than the value in 4-digits broker, and this is boring. Point format setting is there to tell the EA to work as if the broker uses that format, not the one that it is using. Set Point format to 0.0001 and the EA will work as if it work on a 4-digits broker even if the broker is 5-digits
