Overview

Operands are a critical component in the creation of conditions within the Manual Strategy Builder (MSB). Each operand can be represented using different types, providing flexibility in how values are compared. The operand types discussed in the "Operand Component" chapter are used across various condition algo elements. Below are examples of using different kinds of operands within condition algo elements.

1. Constant Value

The simplest type of operand is a constant value. This type allows users to set any fixed value, and it can only appear as a right operand. For instance, consider the condition: if the RSI current value is between 30 and 70.

In this example, both right operands are constants:

• Left Operand: RSI current value
  
  
• Right Operands: 30, 70

2. Bind Expression

A bind expression allows an operand to reference input parameters, private members, or local variables accessible within the current scope. This is useful when the values are dynamic or need to be configurable.

Continuing the previous example, let's consider a scenario where 30 and 70 should be input parameters instead of constants. In this case, bind expressions can be used to link these values to input parameters:

• Left Operand: RSI current value
  
  
• Right Operands: Input parameters

Another example of using bind expressions is when the max and min levels are calculated from an indicator. Here, local variables can be created to store these calculated values:

• Left Operand: RSI current value
  
  
• Right Operands: Local variables

3. Indicator Value

An operand can directly reference the value of an indicator. This allows for dynamic comparison based on real-time indicator values without the need for intermediary variables.

For instance:

• Left Operand: RSI current value
  
  
• Right Operands: Indicator values (e.g., Moving Average, Bollinger Bands)

4. Bar Price

Bar price operands allow users to specify which price from the bar series (e.g., Open, Close, High, Low) to use in the condition. This type of operand is useful for conditions based on specific price points within a bar.

Example:

• Left Operand: RSI current value
  
  
• Right Operand: Close price of a bar

5. Market Price

Market price operands are used to reference the current market prices such as Bid, Ask, or Last price. This is useful for conditions that need to react to real-time market prices.

Example:

• Left Operand: RSI current value
  
  
• Right Operand: Current market price (e.g., Bid price)

Conclusion

Understanding and utilizing different kinds of operands is essential for building robust and dynamic conditions in the MSB. By leveraging constant values, bind expressions, indicator values, bar prices, and market prices, traders can create highly customizable and responsive strategies. Each operand type provides unique advantages, ensuring that conditions are both flexible and precise, enhancing the overall effectiveness of trading strategies within FinStudio.