Tick
Volume Profile Analysis glossary · Profile Anatomy & Volume Nodes
Definition
The minimum price movement of an instrument as defined by the contract. For ES futures, 0.25 index points; for EUR/USD, 0.00001 (or 0.0001 for pip measurement).
Tick in plain English
A tick is the smallest amount a price is allowed to move — you can't trade in gaps finer than one tick, so it's the built-in 'grid size' of that market. Each instrument sets its own tick: the S&P 500 futures (ES) move in steps of 0.25 index points, while EUR/USD moves in tiny steps of 0.00001. It's like a ruler that only has certain marks — prices can only land on the lines, never between them, so the tick tells you how fine those lines are.
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