price scale

[clearpicks]

Amol,


Could you tell me the meaning of price scale in quotetrader plugin? I am editing dictionary and the default price scale values for CL, NG and YM are all set to 4. Is this correct?


- Clearpicks

[eSignal_AveryH]

Re: price scale

Clearpicks,
The price scale for each those symbols should have a min movement of 1 and the Price Scale should be 100.

AveryH
eSignal Support

Originally posted by clearpicks
Amol,


Could you tell me the meaning of price scale in quotetrader plugin? I am editing dictionary and the default price scale values for CL, NG and YM are all set to 4. Is this correct?


- Clearpicks

[clearpicks]

The default price scales in QuoteTrader were all set to 4 and I had no problem to send orders to IB TWS using those generic broker APIs. So is it true that the price scale field is not used by generic broker APIs? Otherwise because the number of significant digits for CL is 2 and for NG is 3, the price scale should be set to 100 and 1000 respectively if not set to 2 and 3. Which one is correct (100 and 1000 vs 2 and 3)?

- Clearpicks

[eSignal_MaxS]

100 and 1000 are correct values. Ideally (and in most cases), each plugin provides this value for you, so you don't have to worry about filling in them manually.

[eSignal_AlexM]

MinTick = minmov/pricescale, where
MinTick is the minimal amount of price increment/decrement

For example most stocks have mintick as 0.01, that means that minmov is 1 and pricescale is 100.

Some features are trading in 1/32, and minmov is 1, pricescale is 32.

Other examples:

mintick = 0.25, minmov = 1, pricescale = 4
mintick = 0.001, minmov = 1, pricescale = 1000