Glossary

Algo Trade — Live deployment: your strategy places real orders through your connected broker. See Algo Trade.

ATM / ITM / OTM — At/In/Out of The Money: how far an option's strike is from the current price. ATM ≈ at the current price; ITM has intrinsic value; OTM doesn't.

Auto Square-Off — An execution setting that force-closes open positions at a set time, regardless of exit conditions.

Candle / Candlestick — One bar of price data for an interval (e.g., one 5-minute candle), recording Open, High, Low, Close (OHLC).

Canvas — The visual strategy builder where your logic lives as connected nodes. See Building on the Canvas.

CE / PE — Call option (profits when price rises) / Put option (profits when price falls).

Combined Premium — The summed premium of multiple option legs (e.g., a straddle's CE + PE), usable as the chart your indicators run on.

Crosses Above / Crosses Below — A comparison that's true only on the candle where one value moves from below to above the other (or vice versa) — fires once per crossover, unlike Greater/Less Than.

Drawdown (Max Drawdown) — The largest peak-to-trough decline in cumulative P&L; the worst losing stretch.

DTE — Days To Expiry of an option contract.

Entry / Exit Condition — The logic that opens / closes a position when it becomes true.

Expiry — The date an option or futures contract ceases to exist. Selectable as Weekly, Next Weekly, Monthly, Next Monthly.

Forward Test — Paper trading: the strategy runs on live data but trades are simulated. See Forward Test.

Heikin Ashi — A smoothed candle type that filters noise, selectable as Candle Type in indicator parameters.

Instance — One running deployment of a saved strategy (in Forward Test or Algo Trade).

Leg — A single option/futures position inside a trade (e.g., "sell 1 lot ATM CE"). Trades can have multiple legs.

Listening — The state of a deployed strategy that is actively monitoring live data for your conditions. See How Signals Work.

LTP — Last Traded Price; LTP monitoring evaluates conditions on every tick rather than on candle close.

Node — A building block on the Canvas: Comparison, Logical, Time, or Boolean.

Offset — Indicator parameter that reads the value from N candles ago (0 = current candle, 1 = previous).

Perpetual Future — A crypto futures contract with no expiry (BTCUSD/ETHUSD on Delta Exchange).

Premium — The market price of an option.

Rolling / Fixed strike — Strike selection timing: Rolling keeps switching to whichever strike matches your criteria; Fixed locks one strike per day at a set time.

Signal — An entry or exit trigger generated when your conditions become true.

Slippage — The difference between the expected fill price and the actual fill price of a live order.

Spot — The underlying cash price of an index/stock (no derivative involved).

Strike — The price at which an option can be exercised.

Synthetic Future — A futures-like price series derived from CE/PE option combinations.

Timeframe — The candle interval an indicator is calculated on (1m, 5m, 15m, 1H…).

Win rate — Percentage of trades that closed profitable.