Conditions

Conditions are expressions that check if a specific criterion is true or false. They typically involve comparisons between data points, calculated values, or logical expressions. When multiple conditions are combined, they form a strategy or scanner.

Example Condition:

• Hull Moving Average with a period of 20, calculated on the close price with an offset of zero, is greater than 360.

This checks if the 20-period Hull Moving Average is above 360 when applied to stock data, outputting either true or false. The TradeOrca strategy builder allows users to create and test such conditions:

Components of a Condition

A condition can include:

• Indicators: Technical indicators like Moving Averages, RSI, MACD, etc.
• Mathematical Operators:
  • Basic: +, -, /, *
  • Advanced: Period Min, Period Max, Maximum, Minimum
• Security Data: Price, volume, volatility, or other asset-specific data.
• Candlestick Patterns: Price-action-based patterns like Doji, Hammer, and Engulfing.
• Numerical Values: Reference numbers, e.g., specific thresholds or targets.
• Comparators:
  • Crosses Above
  • Crosses Below
  • Down By
  • Up By
  • Greater Than (>)
  • Greater Than or Equal To (>=)
  • Less Than (<)
  • Less Than or Equal To (<=)

Combining these elements lets users create customized conditions for market analysis or trading strategies.

Offset (Position of Data, POD)

Offset determines the candle's position for data analysis:

• Offset 0: Uses the latest candle (most recent data point)
• Offset n: Refers to the data from the (n+1)th candle back from the latest one. In other words, when the offset is n, it picks the data from n candles ago, meaning it selects the (n+1)th most recent candle.

Example:

• In the Hull Moving Average example, offset is set to zero (most recent data).
• Offset of 10 would look 10 candles back (11th from the latest).

Offset allows referencing historical data points, supporting more nuanced analysis.