TICKSIZE
Category:
ProBacktest
TICKSIZE refers to the smallest possible price increment that an instrument can experience in the trading market. This term is crucial for understanding and calculating the minimum price movement an instrument can make, which is essential for precise trading and strategy development.
Syntax:
TICKSIZEExample Usage:
Suppose you want to calculate the stoploss into Pips rather than price distance. You can use the TICKSIZE keyword to retrieve this value and perform calculations accordingly.
StopLossPIPS = (close - low) / TickSize //in EurUsd this will return 40, instead of 0.0040This example converts the price distance of price into Pips / Points according to the tick size value (which could be different than the point size).
- The TICKSIZE is particularly useful in automated trading systems where precise calculations are necessary to optimize entry and exit points.
- Knowing the tick size helps in setting appropriate stop loss and take profit levels that are compliant with the market’s minimum price variation.
Related Instructions:
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