I changed Pips to Points. It's mostly a cosmetic change. All settings, indicators and strategies are compatible.
1 Point is the smallest value can be changed.
0.00001 for EURUSD 1.23456
0.001 for USDJPY 123.456
This change will be included in next beta version soon.
That works for 5 digit quotations, but leaves you with the situation where 1 Pip = 10 Points on 5 digit brokers, and yet 1 Pip = 1 Point on 4 digit brokers:(
When there were no 5 digits quotations, the saying was, "A Pip is the smallest value that can be changed", the we got the smart-guy broker who decided to start quoting 5 digits, just to confuse people, (which worked quite well), so people started calling the 5th digit a Point, saying "A Point is the smallest value that can be changed". And so the confusion continues...
Silly question... Would ignoring the 5th digit (3rd digit on JPY pairs) break the system and indicators? Can we do all our calculations to the 4th decimal place without skewing the results too much? If so, then leave it to the EA to do the Pips<--> Pipettes (Points) conversion. (Pipettes is a BabyPips term).
I know I"m the new kid on the block here, and am being a bit pushy, but to me, the terms "Last digit" and "Smallest value that can be changed" are about as mathematically precise as "A bunch", and it's hard to do a bunch of calculations when the value of the terms vary.
I use a 5 digit broker, I tend to see 1 Pip as 10 Points, as that's what I've "grown up" with in forex, but it's hard to know what's what when Pips and Points are used interchangeably.