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The Example System’s Shared Terms

In the previous discussion we’ve mentioned a number of terms that are defined in the Shared Terms tab of the Trading Spec Definition Dialog. As the name suggests, terms defined there are shared between the Example Trading Spec’s strategies or are defined there for overlay purposes, as we’ll now see. For completeness, the full set of these shared terms is:

‘Liquidity Cover’ = 10

‘Has Open Position’ = a condition that is true if the evaluated security’s total quantity in its current position is greater than 0

‘Required Number Of Positions’ = the rounded value of (the cash available (£), DIVIDED by the nominal trade-size)

‘Lower Long Reversal’ = a condition that is true if the evaluated security’s lowest low price, up to today, has previously been in or below the long channel’s Lower Turn-Band (outer), AND the ‘Short Channel Rising’ term is true

‘Short Channel Rising’ = a condition that is true if the evaluated security’s short channel’s trend today, is rising

‘Total Cash Available’ = the cash available (£)

‘Total Capital’ = ‘Total Cash Available’ (£), PLUS the total value of all open positions

‘Indicator Data’ = 0; where:

  • ‘Open Positions’ = the list of securities with open positions
  • ‘Value & Growth Open Positions’ = the list of securities with open positions, after selecting those securities whose trading strategy that triggered its most recent open buy is ‘Value & Growth’
  • ‘Momentum Open Positions’ = the list of securities with open positions, after selecting those securities whose trading strategy that triggered its most recent open buy is ‘Momentum’
  • ‘In Small Cap List’ = a condition that is true if the evaluated security is in the ‘Value & Growth’ strategy’s list
  • ‘In Momentum List’ = a condition that is true if the evaluated security is in the ‘Momentum’ strategy’s list
  • ‘Trade Size’ = the nominal trade-size (£)

With two exceptions, these terms are either self-explanatory or are explained in the previous Help topics that described the various components of the Example Trading System’s Trading Specification. The first exception is the channel banding schema used in the ‘Lower Long Reversal’ term. This schema is described here. The second exception is the Indicator Data term and its Private Terms.

Indicator Data is a dummy Term used to provide somewhere to put its Private Terms, so they don’t clutter up the Shared Terms space. The Private Terms are defined simply to act as data sources for Indicator Overlays, which can be used to monitor key values in the Spec, such as the number of open positions overall and in each strategy. They are also used, as Chart Overlays, to indicate when a share is included in a trading list or not.

In addition, the Trade Size, Total Cash Available and Total Capital terms support overlays used to track the trading account’s financials (the latter two are also used within the spec)

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