Convert the range setting into a price distance
Read the minimum tick size for the exact exchange-prefixed symbol before selecting a range interval. The same number of ranges can represent very different price distances across instruments. These hypothetical examples show the unit conversion, not recommended trading settings.
- For a hypothetical 0.25-tick instrument, a 5.00-point target corresponds to 5.00 / 0.25 = 20 ranges. This arithmetic does not establish which custom intervals your account permits.
- Price points are not account profit or loss. Contract multipliers, position size, currency conversion and execution costs are separate calculations.
- Record both values, such as "10R, tick size 0.25, distance 2.50", so a saved setup does not depend on an ambiguous label.
| Minimum tick size | Range setting | Price distance | Meaning |
|---|---|---|---|
| 0.01 | 10R | 10 × 0.01 = 0.10 | Ten cents for a dollar-quoted share |
| 0.25 | 10R | 10 × 0.25 = 2.50 | 2.50 quoted price points, not ten points |
| 0.00001 | 100R | 100 × 0.00001 = 0.00100 | A quote-price distance; do not substitute a pip convention |