Definitions
This page provides a comprehensive glossary of terms used throughout the Tick2Tick Statistics platform and documentation.
Core Entities
| Term | Definition |
|---|---|
| Bar | A single price candle on the chart. |
| Signal | A market event or alert that is intended to be simulated as a position. |
| Trade | Once a Signal successfully executes an Entry, it becomes a Trade (representing a real-world open position). |
| (Statistics) Request | A specific strategy configuration analyzed by our Statistics Product. |
| Fine-Tune | A new Statistics Request based on a previously executed one, created via the Tick2Tick Dashboard. |
Simulation Lifecycle
1. Waiting for Entry
The initial state of a Signal. Our system performs verification checks to determine if market conditions (e.g., hours, liquidity) allow the Signal to become a live Trade.
2. Entry
The moment a Signal transitions to a Trade. At this point, the system calculates Risk, Quantity, and identifies specific Target levels.
3. Reset
The conclusion of a Trade. A Reset occurs when a Trade is flattened or taken out of the market due to a Stop being hit, all Targets being reached, or a Time-based (Bar) exit.
Price & Level Definitions
- Entry Level: The price level (Y-axis) where the Signal is intended to enter the market.
- Stop Level: The price level (Y-axis) where the Signal is intended to be taken out of the market (Reset).
- Stop Level Offsetted: A modification to the Stop Level, either via an initial offset or dynamically changed via Break Even or Move Stop logic.
- Signal Grid: A relative scale used to measure distances. Level 100 is the Entry Level; Level 0 is the initial Stop Level. Targets and Stop movements are measured as percentages of this grid.
- Reset Level: The final price level where the Trade was closed.
- Setup Size: The absolute distance between the Entry Level and the Stop Level, usually measured in Ticks.
Performance & Risk Metrics
- Risk: The total financial exposure a Trade takes upon becoming live.
- RR (Risk/Reward): A ratio indicating how much profit a Reset Trade made relative to the initial Risk taken.
- Target: A specific price level where a portion of the Trade is closed to take profit. Each trade supports up to 3 Targets.
- Target Share: The percentage of the total trade quantity/risk allocated to a specific Target.
- Round Turn Commission: The total brokerage cost for entering and exiting the trade (includes all Quantities).
- Result USD: The net profit or loss of a Trade after subtracting the Round Turn Commission.
Integration Terms
- Sierra Chart Integration: Our custom ACSIL DLLs that allow Tick2Tick products to be used directly within the Sierra Chart desktop application.
- T2T Statistics - Signal Uploader: A specific Sierra Chart custom study used to upload signals directly from your chartbook to create a Statistics Request.