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Some authors ostensibly does not state it. Perhaps, that is my understanding through study of various sources. The ratios varies from instrument to instrument. The book of Daniele Prandelli also recommends same, though name of octave not mentioned. I will search and post links, for better understanding.

Prices vibrate to octave. If it is for fx EUSD, factor: Price /(1/32) or (1/16) or may be even (1/64), for stocks 1x8, 1x16. S&P suppose trading at 3400 then you can consider 1point=0.5 or 0.25 deg, then can apply mod. Fabio's book Quantum Trading