Condition - Historic Relative Book Percentage

[jimibt]

I think a very useful new condition (in automation) would be the addition of a Historic Relative Book Percentage (HRBP) which is almost a functional facsimile of the current Historical Relative Odds condition (and would report back at either market OR selection level).

This would be helpful in the following ways, as:

1. The book percentage can remain static on a shortening runner, given that an equal change may have occurred in an opposing drifting runner - this creates an opportunity to assess if the new price is reactionary or a proactive change
2. The book percentage can increase (as the price shortens) at a vastly varying rate to the LTP, thus allows for fine grained decision making on the significance of the shortening price
3. The book percentage could be compared against both itself or other close runners, to determine a rate of change (combined with the signals dictionary)
4. a decision tree could be created using signals, by taking snapshots of the HRBP when certain key %ages are breached

All in all, I think the book percentage plays a pivotal role in black boxing the market and as such, having this metric exposed and available opens up a myriad of intriguing possibilities.

Thoughts as ever welcome...

[edit] - it would also be a welcome addition to the current Book Percentage condition to have the choice of market OR selection