Well, it might not be easy to understand those values using TradeStation Help Documentation, because I think there is not satisfying explanation.
What is and How to use them
Remember, that 3 of them (MinMove, PointValue and PriceScale) are important parameters, and they should be provided by Platform. Other reserved words (Point, BigPointValue..) are just calculated depending from those 3 values, so, you only need them.
PriceScale – This is a pre-determined parameter (Platform gives you specific PriceScale value per symbol), you dont need to manually determine it. PriceScale is a number (i.e. 100) which represents the fractional portion of a full point move for a symbol.This is not obtained by calculations, instead this is a FIXED parameter and different symbols have different PriceScale (Platform provides those variable numbers). I mean, how many digits are after dot. For example, many stocks have like this:
PriceScale is 10000 [5 digits after dot] (This is for i.e. EUR/USD )
PriceScale is 100 [2 digits after dot] (This is for E-Mini S&P, and I will use this one in future paragraphs)
p.s. You may think, that in these cases, i.e. for E-MINI price change happens by 0.01 , but that’s not always true.. let’s discuss it a bit later).
So, remember, what is
PriceScale. Shortly, it indicates “how many digits after dot”.
Point – it is a bit confusing value, sometimes it’s called
pip in forex community. It is
1 / PriceScale (but in some symbols, like 3 or 5 digit symbols, that value should be multiplied by 10). For example, for AUDUSD,
PriceScale is 100000 , but point it’s
PointValue – This is a what TradeStation automatically assigns depending on symbol. This is a market value of one Point. For example, one
Point of E-MINI (which is 0.01) value is 0.50 . So, you can say that
PointValue is 0.50 for E-MINI.
MinMove (Minimum Movement Amount of Points) – we should remember the difference among these one for any symbol:
- Minimum Movement in price
- Minimum Movement in contract value
- Minimum Movement Amount of points ( <— only this is called MinMove)
MinMove – This is a pre-determined parameter (Platform gives you specific
MinMove value per symbol). For example, as I’ve mentioned in the beginning, one E-MINI Point is 0.01 ( and
PointValue is 0.50 as we said) , but on the chart, you will see that price doesnt change by 1 point (0.01 increment), but it changes by 25 (
MinMove) points, which is 0.25 increment (call this one Minimum Movement in price).
Let’s summarize (for example: E-MINI )
– one Point (of symbol price) is: 0.01
PointValue is: 0.50
MinMove(Minimum Movement amount) of points is: 25
– Minimum Movement in price is: 0.25 (lets call it TickSize)
– Minimum Movement in contract value is:
MinMove) * 0.50(
PointValue) = 12.5 (lets call it TickValue)
BigPointValue – This is nothing special. Platform just automatically calculates and gives you how much value (per contract) has 1 full point move. This is: amount of Points in 1 full point (a.k.a.
For example, for E-MINI, it is : 100 (because
PriceScale is 100 ) * 0.5 (
PointValue) = 50