Point (Reserved Word)
DisclaimerReturns a decimal numeric expression equivalent to 1 divided by the PriceScale (1 / PriceScale).
Point
Remarks
A Point represents the smallest fractional unit of PriceScale. For example, for stocks with a PriceScale of 100, a point would be .01 (or 1/100). For instruments that trade in a PriceScale of 32nds, a point would be 0.03125 (or 1/32).
A point is not the same as the minimum price move (which is MinMove / PriceScale). For example, for the E-Mini with a PriceScale of 100, a point is .01 (or 1/100) while its minimum price move is .25 (MinMove / PriceScale)
Examples
Close + 1 Point
returns one increment of the PriceScale added to the Close price.
Low - 1 Point
returns the Low of the bar minus one increment of the PriceScale.
Additional Example
An exit statement can be written to prevent large losses by:
Sell This Bar at EntryPrice - 1 Point Stop;