What is 'Market Value'?

After one $1,500 trade the Market Value is $1414.29. How is this value determined?

2020-07-23 15_20_56-AFL Formula Editor - Weekly BBO 200424.afl

Value of your open position at close maybe?

Interesting, but no. Using Weekly bars the close on Friday makes it $1,455.

Do you have the DB configured for Price and Vol adjustment?

I just did a quick back test for the past 12 months and I get: No. of shares X close minus commission = market value.

I do, using Norgate Data. I changed the db to not adjust; market value remains the same. If you run a test with zero commission your market value changes?

Yes, it changes by exactly the commission to buy OR sell (not "round trip").

Great, So setting commission to zero results in Market Value = Trade value?

This is covered in our FAQs:
https://norgatedata.com/amibroker-faq.php

"My trading system shows trades with anomalous position values and profit levels. How do I fix this?"

AmiBroker returns the results from backtesting in the selected "base currency". It converts the currency from the security's trading currency to the base currency at each point of the trade to determine the Position Value and Profit/Loss amounts. In AmiBroker go Tools > Preferences > Currency and set the base currency as required (eg: Australian traders may want to select AUD).

Cheers,
Richard.

Hello Richard, The base currency is AUD already.

As Richard told you you have to check "Base currency" in Preferences AND CURRENCY SET for given symbol (in Symbol->Information). If these two are not equal then values that you take from backtest are subject to FX rate conversion.