Tick Scaling for CFD Markets
Tick Scaling for CFD Markets
Provides a consistent tick, pip, cent and point values across various markets and brokers. This is specific to stock indices, metal, commodity etc markets keeping the cent or dollar unit consistently applied. Wherever the EA is configured with a 'Pip' value then it is consistently mapped to the cent or dollar unit for those non-FOREX markets.
| Tick Scaling for CFD Markets | Description |
|---|---|
| Auto Scale for Index Markets | Based on the characteristics of the market the EA automatically recognizes if the underlying market was a stock index market, like the US30, GER30 or JP225 etc. In this case the 'pip' values configured for the EA are scaled up to the 'dollar' value of the index: 12345.67 |
| Never Scale | The EA does not scale up the 'pip' values even if the market could be recognized as a stock index market. |
| Always Scale | The EA applies the scaling up of the 'pip' values to the 'dollar' value even if the market could not be recognized as stock index market. This option is useful if the 'dollar' based approach is desired for trading. |
Note: The EA always deals with the fractional pip values therefore there is no need to increase the 'pip' values for brokers with 1, 3 or 5-digit data feed.
Examples:
| Trading Approach | Chart of Market | Stop Loss EA Parameter Value | Tick Scaling for CFD Markets Value | Buy Entry Fill Price | Calculated Stop Loss Value | Description |
|---|---|---|---|---|---|---|
| Index market with $1.00 unit | US30 | 100 | Auto Scale for Index Markets Alternative: Always Scale |
26123.90 | 26023.90 | The EA scales the 100 'pips' parameter to market price of 100.00 US dollar units (i.e. 100.00 points) |
| FOREX pair with 0.0001 unit | EURUSD | 100 | Auto Scale for Index Markets Alternative: Never Scale |
1.13412 | 1.12412 | The EA keeps the 100 'pips' parameter as it is |
| Gold market with $0.01 unit | XAUUSD | 100 | Auto Scale for Index Markets Alternative: Never Scale |
1288.23 | 1287.23 | The EA maps the 100 'pips' parameter to 100 cent units |
| Gold market with $1.00 unit | XAUUSD | 100 | Always Scale | 1288.23 | 1188.23 | The EA maps the 100 'pips' parameter to 100 dollar units |
| Oil market with $0.01 unit | USOil | 100 | Auto Scale for Index Markets Alternative: Never Scale |
56.752 | 55.752 | The EA maps the 100 'pips' parameter to 100 cent units |
| Oil market with $1.00 unit | USOil | 10 | Always Scale | 56.752 | 46.752 | The EA maps the 10 'pips' parameter to 10 dollar units |
| Copper market with $0.01 unit | COPPER | 100 | Auto Scale for Index Markets Alternative: Never Scale |
2.9245 | 1.9245 | The EA maps the 100 'pips' parameter to 100 cent units |
| Cocoa market with $0.01 unit | COCOA | 100 | Auto Scale for Index Markets Alternative: Never Scale |
2160 | 2060 | The EA maps the 100 'pips' parameter to 100 cent units |
| Natural gas market with $0.01 unit | NGAS | 100 | Auto Scale for Index Markets Alternative: Never Scale |
2.843 | 1.843 | The EA maps the 100 'pips' parameter to 100 cent units |