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Converting Forex Pips to MetaTrader Points

Article MQL5 code base
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Summary

The document explains why automated trading logic may need to convert a stop distance expressed in pips into MetaTrader 4 points. Its example says that a 50-pip stop corresponds to 500 points for a five-digit broker, reflecting the difference in quote precision and the platform’s point-based calculations.

The explanation is incomplete: it ends after introducing the five-digit case and gives no conversion rule for four-digit brokers or a full function. It offers no market evidence or strategy guidance, so it is most useful as a narrow implementation concept. Traders should confirm quote precision and instrument conventions with their broker before applying a conversion.

Key ideas

  • MetaTrader 4 trading logic may express distances in points while traders specify them in pips.
  • For a five-digit broker, the example converts a 50-pip stop into 500 points.
  • The document does not provide the four-digit case or a complete conversion function.
  • Broker and instrument quote conventions should be checked before using the conversion.

Tags

ForexExecution

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.