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Jim Dean

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Subject : RE: Tradescope Bins & Segments
Posted : 2/7/2012 4:08 PM
Post #25808 - In reply to #25804

Thanks for the additional info, Bill. My initial response focused on boolean-"variables" (I like the term rules or metrics better, btw).

TS also offers System entries as triggers, which define "events" and fit naturally into my prior explanation. You can specify a tolerance input for Systems, to make their signal "last longer" ... this is important if you combine several metrics/rules together ... otherwise you won't get an overlap.

The manual is silent about the And / Or thing. My ASSUMPTION, for the Boolean and System cases, has been that "AND" is the operative rule when multiple metrics/rules are provided.

It would be natural to assume that if "And" is used for two of the three types, then it would also apply to the third type (measurements). However, we must think further about how the measurements are evaluated.

Again ... my comments here are educated guesses. I hope that Nirvana will jump in and correct any errors I make, and elaborate on any weak spots.

To understand how the Measurements are handled, it's important to understand the "binning" thing that I described before. It would be absurd for TS to use the PRECISE value of a measurement today as a reference-point to search back over history, since there would be very few if any days with the same six-significant-figures-of-precison value as the measurement happens to have, today.

So, what TS (presumably) does is to examine the FULL RANGE of the measurement over the historical period, then break that down into "buckets" like I discussed before (ie bins) - to figure out what the labels on the buckets should be (ie what range of measurement values fall into each bucket).

Once it knows the bucket/bin-ranges for that measurement, it determines which bucket today's value is in (ie a very very "rounded off" value, not precise at all) ... and looks for past days where the measurement fell into the same bucket.

This process is done for each measurement independently, since they all likely have different historical ranges. That is, different bucket-labels for each measurement.

If you have several measurements defined in your rule/metric set, then I would PRESUME that an "AND" condition would apply ... although recent posted comments seem to indicate that "OR" is used. If "And" is used, then a given historical day "qualifies" to evaluate price-action potential if ALL of its measurements fell into the same buckets as those measurements are in, today.

However, if "Or" is used, then an historical day would qualify if ANY of the measurements fell into comparable buckets as today.

Nirvana really needs to qualify this. If some metrics/rules/variables use AND and some use OR, then we need to know this in order to intelligently construct/modify our own TS definitions.

I hope these guesses and explanations are helpful.

Deleting message 25808 : RE: Tradescope Bins & Segments


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