How to Determine Symbol Settings
The symbol settings are located in the Edit Symbol menu of QuoteManager, in the Settings tab. Also, it is possible to apply the settings to the whole root or exchange.
Contents
1. Price Scale:
Price Scale stands for the number of decimals after the delimiter.
Price Scale can be determined by plotting a chart.
Example: Set Price Scale = 1/10000 and watch the prices on chart. If prices contain too much digits, remove the corresponding number of zeroes in the Price Scale value.
2. Min. Movement:
The minimum price movement must be an integer. Min. Movement can be determined by plotting a chart too. Adjust the value so that there are no price levels without real prices on chart.
3. Big Point Value:
The correct Big Point Value depends on your broker account.
Example: If the minimum lot size on your account is 1000, set up BPV = 1000, if it is 10000, then set up BPV = 10000 accordingly.
Note:
Min. Movement * Price Scale returns the smallest increment between trades.
Min. Movement * Price Scale * Big Point Value returns the currency value of the smallest change in price.
Knowing that you can calculate the correct values for symbol parameters.
For example, ES symbol has the following parameters: Price Scale = 1/100; Min. Move = 25; BPV = 50; Currency = $
1/100 * 25 * 50 = 12.5
The smallest change in price for ES symbol = $12.5