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Points refers to a unit used in this EA. The term Points refers to tick size, which determines the smallest increment (tick) by which the price of stocks, future contracts, or exchange instruments can move.

A Point is sometimes confused with the percentage of point, or oftenly we called it as pip. Pip itself is a unit of change in currency pair, where normally a pip is one unit of the fourth decimal point (except for Japanese Yen).

For example:
EUR/USD is now priced at 1.0745 in 4 decimal places. In this case, a point is equal to 0.0001 movement, and a pip is equal to 0.0001 movement. Hence in 4 digit price, 1 pip is equal to 1 point.

EUR/USD is now priced at 1.07453 in 5 decimal places. In this case, a point is equal to 0.00001 movement, and a pip is still equal to 0.0001 movement. Hence, in 5 digit price, 1 pip is equal to 10 points.

Last edited Nov 18, 2015 at 10:38 AM by radityoardi, version 1