Broker Pip Glossary Builder
A pip is ten points on a 3- or 5-digit quote and exactly one point on a 2- or 4-digit quote. That rule is simple once stated, but it is easy to get backwards, and it changes per symbol on the SAME broker (a JPY cross behaves differently from a EURUSD-style pair) and can differ between two brokers quoting the same instrument at different digit counts. Code, or a trader, that assumes "a pip is always 0.0001" will be quietly wrong the first time it touches a JPY pair or a 3-digit broker. This script loops every symbol currently in Market Watch (or the broker's entire symbol list if requested), reads its digit count and point size live from MarketInfo(), computes the pip size with the standard 10x/1x rule, and prints a labelled entry per symbol: digits, point, pip size, contract size, tick size, tick value, and the current spread converted into both points and pips so the two units are never silently confused. Each entry closes with a worked example price move of exactly one pip in that symbol's own price format. Every size shown, including contract size, is read live per symbol - none of it assumes a textbook "standard lot is 100,000 units" figure, because metals, indices, and some brokers' minor pairs do not follow that convention. Notes and limitations - Symbols with no live quote yet (e.g. never selected, or the broker feed has not delivered a tick) print a short "data not yet available" line instead of a possibly-zero glossary entry, rather than showing misleading zeros. - The JPY/5-digit/4-digit group labels used for display are a convenience heuristic based on symbol name and digit count; the actual pip-size arithmetic used everywhere else in the script relies only on MODE_DIGITS, never on the symbol name. - Contract size, tick value, and spread are all snapshotted at the moment the script runs and can change afterwards (spread constantly, contract size and tick value far less often) - this is a point-in- time report, not a live-updating panel.
Script · MT4 · v1.0 · Free
About Broker Pip Glossary Builder
Broker Pip Glossary Builder is a script for MetaTrader 4. It has 1 setting, such as Market watch only. MQL source code included.
Files in the download: BrokerPipGlossary.mq4, BrokerPipGlossary.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Market watch only | true | true = only symbols already in Market Watch, false = all symbols this broker offers |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 4 open File → Open Data Folder, then go to MQL4 → Scripts.
- Copy the .mq4 file(s) there. Put any .mqh files in MQL4 → Include.
- Open the .mq4 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the script onto a chart to run it once.
Tags: EURUSD · MT4 Script · MQL4 Source Code