Raw price

Also seen as: price level, index level, untransformed series.

When does a condition use Raw price?

A condition uses Raw price whenever the number you want to compare against is the series' published level itself, not something derived from it. That covers a volatility index you compare against a level, a yield spread you compare against zero, and a price you compare against another price. Because nothing is derived, no window is involved: the Period field has nothing to read over and does not apply. In a Double series condition, Raw price on one side is how a series is compared against a transformed version of itself — for example a price against its own moving average.

Defaults in Fincanva

• Raw price is one of four Indicator options, alongside "Simple moving average", "Percent change", and "Average momentum".
• Raw price takes no lookback window — the Period field applies to the indicators that summarise a span.
• The threshold you type is read in the series' own units: an index level for an index, a rate in percent for a yield series, a price for a stock or ETP.
• Several built-in risk templates use Raw price, including the VIX and VIX ratio templates and every yield-curve spread template.

Worked example

You build a Single series condition on a volatility index and leave the Indicator at "Raw price". The condition now reads whatever the index publishes: 18 one day, 31 a few weeks later. Those readings are compared straight against the number on the Risk-Off row, with no averaging, no percentage, and no window in between — so a single day's print is the whole signal. That directness is exactly why the confirmation delay exists: on a Raw price condition it is the only thing that stops one unusual day from asking for a switch.

Change the same condition's Indicator to "Simple moving average" with a Period of 20 and the comparison would instead read the average of the last twenty periods — a smoother number, and one that needs a Period to be meaningful.

Learn more: Risk conditions