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Pip Value Errors

The calculation for correct position sizes for your trades relies on the Calculator knowing the pip value of the currency pair. The pip value of some currency pairs may be calculated directly from their price, while the pip value of other pairs depends on knowing the value of one or more of the currencies that make up the pair against the USD.

For example: to calculate the pip value of the EURJPY, the price of the USDJPY must be known as well. To calculate the GBPCAD the price of the USDCAD must be known as well, etc.

The pip value for the currency pair(s) shown in red on the currency rates page of the Calculator cannot be determined because one or more of its constituent pairs is not available to the Calculator at this time. Please recheck your MT4. Also note that LIVE must be checked ON for a pair’s values to come into the Calculator.

If you find that you need to turn on one or more additional symbols on your MT4 platform, remember to come back to Settings > DDE > scan in the Calculator so those new symbols are added in.

On The Currency Rates tab of the Calculator
Currency Pair

Pair Required

AUDJPY USDJPY
CADJPY
CHFJPY
EURJPY
NZDJPY, etc.
AUDCAD USDCAD
EURCAD
NZDCAD, etc.
AUDCHF USDCHF
CADCHF
EURCHF
GBPCHF
NZDCHF, etc.
EURGBP GBPUSD and EURUSD
AUDDKK USDDKK
EURDKK
GBPDKK, etc.
GBPSEK USDSEK
NOKSEK, etc.

For Forex Tester users: on the Forex Tester platform, enable this pair, or load the data for this pair into the Forex Tester in addition to the pair you want to test. For the Forex Tester, if you want to just test the EURJPY you will also need to generate ticks for the USDJPY and open a chart for those prices.

Manually Add A Pair

This is rare, but we have seen it happen… It could be the broker lists a pair in the Market Watch or Symbols list, but does not actually actively support it.  Check the MT4 to see if prices are being updated.  Do you see them going up and down?

If the broker does not support a pair you can manually set it up in the Calculator using Settings>DDE>Custom and entering the symbol pairs – but you will need to manually enter bid and ask prices for this pair.

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