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Question on MinMove reserve word in EasyLanguage
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Created: by mashficool Attachments:0

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Question on MinMove reserve word in EasyLanguage

  #1 (permalink)
Trading Apprentice
columbus, GA
 
Futures Experience: Beginner
Platform: Tradestation
Favorite Futures: EMINI ES
 
Posts: 7 since Jun 2016
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Question on MinMove reserve word in EasyLanguage

Question related to EasyLanguage Coding. For example in the Emini S&P :

PointValue * MinMove returns the minimum price move of 12.50. So if the price goes down, does it return -12.50?

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  #2 (permalink)
Market Wizard
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation
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Favorite Futures: ES
 
Posts: 1,723 since Apr 2013
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This post has been selected as an answer to the original posters question Answer

mashficool,

the minimum price that an underlying can move doesn't change, this will stay at 12.5 for the ES. These reserved words don't return the direction of the move, they just return the smallest increment that the underlying can move.

Regards,

ABCTG

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  #3 (permalink)
Trading Apprentice
columbus, GA
 
Futures Experience: Beginner
Platform: Tradestation
Favorite Futures: EMINI ES
 
Posts: 7 since Jun 2016
Thanks: 4 given, 3 received

How to compute direction of price move



ABCTG View Post
mashficool,

the minimum price that an underlying can move doesn't change, this will stay at 12.5 for the ES. These reserved words don't return the direction of the move, they just return the smallest increment that the underlying can move.

Regards,

ABCTG

So what reserve word should I use to find the direction of the minimum price move? I need to know the direction of minimum price move to implement my strategy. For S&P Emini, the minimum price move is always 12.5 or in 0.25 cents increments per contract, that's what I know.

Thanks a Bunch for your help!

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  #4 (permalink)
Market Wizard
Hamburg Germany
 
Futures Experience: Advanced
Platform: Multicharts, Tradestation
Broker/Data: DTN IQ
Favorite Futures: ES
 
Posts: 1,723 since Apr 2013
Thanks: 265 given, 995 received
Forum Reputation: Legendary

mashficool,

you could use the code snippet posted here to check for a change in price.
It's not guaranteed that the ES moves just one minimum movement (although highly likely), but in case of a gap it could move more for example. Therefore you might be better of checking just for the direction (up, down, unchanged) as this would include any price change equal to or greater than one tick.

Regards,

ABCTG

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