Facebook Ad Conversion tracking - fb_param.value

Question

I am looking for some advice on installation of the Facebook Ad Conversion tracking that Facebook provide, but strangely, don't provide any documentation for.

Understandibly the code is basic and almost self-explanatory, but the line of code fb_param.value = '0.00'; says nothing about what the value should be. Considering it is tracking a conversion I would have imagined it should be the monetary value of the conversion (Order Total, for example) but every snippet of code I see copy-pasta'd around the net has this value as 0.00.

Is this correct? or should I be feeding through the conversion value?

<script type="text/javascript">
var fb_param = {};
fb_param.pixel_id = '6006337211872';
fb_param.value = '0.00';
(function(){
  var fpw = document.createElement('script');
  fpw.async = true;
  fpw.src = '//connect.facebook.net/en_US/fp.js';
  var ref = document.getElementsByTagName('script')[0];
  ref.parentNode.insertBefore(fpw, ref);
})();
</script>
<noscript><img height="1" width="1" alt="" style="display:none" src="https://www.facebook.com/offsite_event.php?id=6006337211872&amp;value=0" /></noscript>

Answer 1

Yes, value is supposed to be the USD (or local currency equivalent, i guess) value of the conversion if you want that to be tracked:

https://developers.facebook.com/docs/reference/ads-api/offsite-pixels/ The documentation is a bit sparse but the value parameter is mentioned as:

You can specify how much a pixel fire is worth to you using the value field, which should be specified in cents and it defaults to 1 cent if you don't specify it.