Glossary of Aurono Terms

This glossary defines the key terms used throughout Aurono’s documentation and interface.

All definitions reflect how the terms are used within Aurono, not generic trading jargon.

A

Allocated Capital

See Starting Capital.

The term “allocated capital” is a synonym for the EUR amount a strategy is permitted to use. The Aurono interface now uses starting capital and available cash consistently across the Simulate and Evaluate tabs; both terms refer to the same underlying concept.

Aurono will:

Never exceed the strategy’s starting capital
Never borrow funds
Stop buying automatically once the allocation is fully used

API (Application Programming Interface)

A technical interface that allows software to communicate with an exchange.

In Aurono:

The API is used to request market data
Place buy and sell orders
Retrieve balances and order status

Aurono uses API credentials with restricted permissions and never has custody of funds.

Archetype

A human-readable label summarizing how a strategy behaves based on its parameters - e.g., Patient & Selective, Responsive, Balanced, Cautious.

Archetypes are descriptive labels, not quality judgments. A patient strategy is not better than a responsive one; they suit different market conditions and different users.

Audit Trail Drawer

A collapsed section at the bottom of the Evaluate tab. Expands to show six sub-tabs: Trades, Realized P&L, Holdings, Versions, Events, and Parameters. While closed, it shows a one-line summary of what is inside.

The audit trail is the historical record of everything a strategy has done. It’s closed by default so the main Evaluate view stays focused on what needs attention now.

Available Cash

The amount of quote currency (typically EUR) that a strategy can currently spend on new buys.

Available cash excludes:

Cash reserved for pending buy orders
The value of any position currently held

When available cash covers fewer than two more buys, Aurono shows a danger zone warning on the Evaluate tab with a link to the Capital Rebalancer.

See also: Reserved Cash, Starting Capital.

Average Cost Base (ACB)

The weighted average price at which the currently held asset was acquired for a strategy.

Aurono uses the ACB to enforce a core rule:

Aurono only sells when the sell price clears the ACB plus a small fee-safety margin.

B

Buy Amount

The fixed amount of quote currency (for example EUR) spent on each executed BUY trigger.

The buy amount:

Is strategy-specific
Does not change with price
Directly determines capital pressure when multiple BUYs occur

Buy Signal

A market condition where the BUY trigger threshold is met.

A buy signal:

May or may not result in an executed BUY
Is ignored if capital is unavailable

Buy Trigger (Drop %)

The minimum percentage drop between two consecutive candle closes required to allow a buy.

Example:

Buy trigger: −4%

Aurono evaluates this only at candle close.

C

Calibration Card

One of the three insight cards on the Evaluate tab. Answers the question “are my triggers actually firing, and if not, why?”

Reads like: “Buy line crossed 8× → 2 bought, 2 cancelled at exchange, 4 blocked (not enough cash). Sell line crossed 16× → 0 sold, 16 blocked (11 price below cost basis, 5 no inventory).”

It distinguishes three buckets per side:

Bought / sold - signals that resulted in a completed trade
Cancelled at exchange - signals that became orders but didn’t fill
Blocked - signals that were stopped before submission, with human-readable reasons (not enough cash, price below cost basis, cost/fees not cleared, no inventory, cooldown active, minimum position guard, RSI not confirmed)

Capital Safety Check

An analysis performed by the Strategy Lab to determine whether a strategy can survive its worst-case BUY accumulation without running out of allocated capital.

The check evaluates:

Max net buys required
BUY amount
Allocated capital

Candle (OHLC)

A price representation containing:

Open
High
Low
Close

Aurono uses only fully closed candles for all decisions.

Candle Open

The price at which a candle starts for a given timeframe.

For example:

The Candle Open of a 4h candle is the price at the exact moment the 4-hour period begins.

In Aurono:

The candle open price is used as the reference price for calculating limit order prices
It provides a stable, deterministic reference point that does not change after the candle closes

Closed Candle

A candle whose time period has fully ended.

Aurono never evaluates:

Partial candles
Live candles
In-progress price data

Concurrent BUYs

Multiple BUY triggers that occur close together in time, before any SELL reduces inventory.

High concurrency increases short-term EUR usage but is not the same as net accumulation.

Cooldown

A waiting period between same-side trades. Prevents rapid-fire buying or selling when triggers fire repeatedly in quick succession.

For example, a 2-day cooldown means: after a BUY executes, the strategy waits 2 days before it can buy again. The same applies to SELLs independently.

Current Position

The quantity of an asset currently held by a strategy.

In the context of “I already own this coin”:

The current position represents assets you already own before Aurono starts trading

You manually provide:

The amount of the asset
The average acquisition price

Aurono records this as an administrative registration so that:

Holdings are known
Average Cost Base (ACB) is correctly initialized
Future sell decisions respect the ACB rule

Aurono also records what the position was worth at market price on the day the strategy began. The starting-position card shows that figure (“Worth EUR X when this strategy began”), and the overall result and the Benchmark comparisons start from it. The average price you entered only drives when the strategy may sell. Changed in v0.1.34-beta.

No order is placed on the exchange - it’s purely bookkeeping.

D

Danger Zone

A warning state shown on the Evaluate tab when an active strategy’s available cash covers fewer than two more buys. It counts buys, not a share of starting capital, so coins the strategy started with never count as spent cash. Sell-only strategies never show it.

When active, Evaluate displays a warning banner between the metrics strip and the main chart, saying whether the cash covers one more buy or not even the next one, with an Open Rebalancer button. Separately, the Holdings tab’s cash chart shades the bottom 20% of its range with a warm terracotta gradient - the “danger band.”

The warning does not appear for strategies with no buy side (e.g., hold-only strategies), because they don’t need free cash to function.

Deterministic Execution

A core design principle of Aurono.

Given:

The same strategy configuration
The same market data

Aurono will:

Make the same decisions
Produce the same outcomes
Generate explainable logs

E

Event

An immutable fact recorded by Aurono. Events are append-only and never edited.

Examples: StrategyCreated, OrderSubmitted, OrderFullyFilled, CapitalCredited.

Events are the authoritative record. All other data (projections, P&L, snapshots) is derived from events.

Evaluate Tab

The third tab of the Strategy Lab. It diagnoses a running strategy using real trade data: a verdict sentence, a metrics strip, a dual-panel chart (same component Simulate uses, but with real trades), three insight cards (Benchmark, Calibration, Position), and an audit trail drawer.

Evaluate is silent by default - a well-calibrated strategy shows no warnings. When something needs attention (danger zone, calibration gaps, etc.), Evaluate surfaces it as an inline banner with a clear next action.

See: Evaluating Strategies.

Evaluation

The process where Aurono checks a strategy’s trigger conditions against the latest closed candle. Evaluations happen automatically at scheduled times - every hour for 1h strategies, every 4 hours for 4h, daily at midnight UTC for 1d, and Monday midnight for 1w.

Each evaluation produces one of: BUY triggered, SELL triggered, or no signal (hold).

Evaluation Log

A record of every evaluation outcome - when it ran, which strategy, what the result was (evaluated, skipped, error), and why. A strategy skipped three runs in a row shows Not evaluating. Visible in Settings. Useful for diagnosing why a strategy hasn’t traded.

Exchange

The trading platform where funds are held and orders are executed.

Aurono currently supports:

Bitvavo
Kraken
Coinbase

Aurono never holds funds itself.

Exchange Balance

The actual EUR and crypto balances on your exchange account. Aurono compares these with what your strategies expect to detect shortfalls. Visible in Settings → Exchange Balances.

Execution-Only

Aurono executes predefined rules but does not:

Generate signals
Predict price movement
Make discretionary decisions

F

Fee-Safety Margin

The small margin added on top of a strategy’s average cost base to form the actual sell floor:

Sell floor = ACB + 0.5%

A sell priced exactly at cost base still loses money, because the round trip pays the exchange twice (once on the buy, once on the sell). The margin covers that.

0.5% is the default and is a strategy parameter, not a field in the interface. In Lab Simulate and Quick Test the margin is derived from the Lab’s own fee percentage (2x, for both sides) instead, so it moves with the simulated fee.

Introduced in v0.1.33-beta. A sell held back by the margin reports “cost/fees not cleared”, distinct from “price below cost basis” for a genuinely underwater position.

See also: Average Cost Base (ACB), Calibration Card.

Fill

An exchange-confirmed execution of (part of) an order. Has a price and a quantity, and may occur multiple times per order (partial fills). A fill is the only source of inventory change - Aurono’s ledger only moves when a fill is confirmed.

See also: Order, Trade, Settlement.

H

Holdings Tab

A sub-tab inside the Evaluate tab’s Audit Trail Drawer. Contains two charts stacked:

Available cash over time - step-area chart showing free EUR across the strategy’s lifetime, with a dashed reference line at starting capital and a warm terracotta band at the bottom marking the danger zone
Asset position over time - step-area chart showing how many units of the base asset were held at each evaluation

These are the same chart components used in the Simulate tab, rendered with real strategy data instead of backtest data.

Hollow Marker (Cancelled Trade)

A visual state on the dual-panel chart indicating a trade that was submitted to the exchange but cancelled or rejected - it never landed.

Rendered as a hollow ring in the buy side’s teal or the sell side’s amber, the same size as an executed trade. Distinct from:

Solid dot - executed (filled)
Faded small dot - ignored (blocked before submission)

The ACB line does not step at a hollow marker because no fill occurred.

I

Ignored BUY Trigger

A BUY signal that does not result in an executed BUY.

This can occur when:

Allocated capital is temporarily unavailable
Multiple BUY signals cluster closely together
RSI doesn’t confirm the signal, when RSI confirmation is configured
A cooldown after the previous buy is still running
The buy side is turned off (Buy amount €0)

Ignored BUY triggers do not necessarily indicate insufficient capital.

Ignored SELL Trigger

A SELL signal that does not result in an executed SELL.

This can occur when:

The price is below the Average Cost Base
The price is above the Average Cost Base but hasn’t cleared the fee-safety margin (“cost/fees not cleared”)
There is insufficient inventory to sell, or selling would drop the position below its minimum holdings
RSI doesn’t confirm the signal, when RSI confirmation is configured
A cooldown after the previous sell is still running
The sell side is turned off (Sell amount €0)

Inventory

The total amount of an asset currently held by a strategy.

Inventory changes only when:

A BUY is executed (inventory increases)
A SELL is executed (inventory decreases)

L

Liquidity Check

A comparison between what your strategies need (EUR and crypto) and what’s actually available on the exchange. If there’s a shortfall, Aurono shows a warning with the exact deficit and guidance on what to deposit. Visible on the Dashboard and in Settings.

Limit Order

An order that specifies the exact price at which Aurono is willing to buy or sell.

Aurono uses limit orders only.

Live Price (Ticker Price)

The most recent traded price reported by the exchange.

Aurono uses the ticker price only to calculate order amounts, not to decide whether to trade.

M

Milestone

A notable achievement in a strategy’s lifecycle. Aurono detects milestones automatically:

First round trip - the first completed sell, paired with its cost basis
Round trip count - 10, 25, 50, 100 completed round trips
All-time high - portfolio value and asset units both exceed the previous peak (requires at least one completed round trip)

Minimum Holdings

The minimum amount of an asset a strategy must hold before it’s allowed to sell. Useful to ensure the strategy accumulates a meaningful position before it starts selling. Also called “min position”.

Market Order

An order that instructs the exchange to execute immediately at the best available price.

Market orders:

Do not guarantee an execution price
May result in slippage during volatile conditions

Aurono does not use market orders. Aurono uses limit orders only to ensure predictable execution.

Max BUY Streak

The maximum number of consecutive BUY signals that occur without any SELL signal in between.

This measures short-term signal clustering, not total capital pressure.

Max SELL Streak

The maximum number of consecutive SELL signals that occur without any BUY signal in between.

High sell streaks can indicate inventory exhaustion risk.

Max Net Buys Required

The maximum net number of executed BUYs minus SELLs observed during the analysis period.

This represents the worst-case accumulation pressure and is the primary driver of capital requirements.

N

Moving Average Condition

An optional condition on a strategy, off by default. When configured, a buy, a sell or both are allowed only while the latest close is above, or below, the price’s simple moving average over the chosen length (MA20, MA50, MA100, MA200 or a custom length, in the strategy’s timeframe).

It can only block a trade, never cause one. It is evaluated right after RSI confirmation, so a signal it blocks reports that the price was not above, or not below, its average (for example price not below its 50-day average in the Activity log). Until there is enough history to fill the average, the side the rule applies to waits.

See also: RSI Confirmation, Buy Trigger (Drop %), Sell Trigger (Rise %).

Nudge

An informational banner on the Evaluate tab (or a section in an email report) that surfaces something needing the user’s attention - regime shift, danger zone, stale strategy, losing against benchmarks - with a navigation button to the tool that can address it.

Nudges inform and link; they never execute actions on your behalf. The only exception is directives that you explicitly opt into at strategy creation (e.g., auto-sell when a goal is reached). Those are pre-committed user instructions, not reactive nudges.

Net Trigger Saldo

The running difference between executed BUYs and executed SELLs.

BUY increases the saldo by +1
SELL decreases the saldo by −1

The maximum value reached defines Max Net Buys Required.

O

Order

A request sent to an exchange on behalf of a trade. Belongs to exactly one trade and is identified by an exchange-specific ID.

In Aurono, “order” is reserved for exchange interactions - it is not a synonym for trade. A trade may exist without an order (e.g., an intent that never made it to the exchange), but an order always belongs to a trade.

Order Amount

See Buy Amount and Sell Amount.

Overall Return

The percentage beside the P&L figure at the top of the Dashboard, e.g. “grew about 4.1% over 6 months”. It is a money-weighted return: every deposit, withdrawal and starting position counts on the date it actually happened, so money added recently doesn’t count as if it had been working from the start.

Until the account has a full year of history it covers the period actually measured, and says which period that is. After that it becomes a yearly rate (“grew about 14% a year”)
The line underneath states what it’s measured on: “Measured on the €X you put into strategies.”
Archived strategies count from the day they were archived; moving capital between strategies doesn’t change it
When too little capital is at work, or the calculation can’t settle on an answer, only the euro amount is shown (”+€234 since start”)

Per-strategy percentages are not affected; they stay simple returns.

P

Projection

A derived read model rebuilt from events. Projections are not authoritative - they can be regenerated at any time by replaying the event store.

Examples: strategy state, portfolio snapshots, capital balances.

Peak EUR Required (Actual)

The maximum observed EUR drawdown during the analyzed period.

This reflects historical behavior but cannot be relied upon for capital safety.

Precision

The number of decimal places allowed by an exchange for:

Prices
Amounts

Aurono strictly enforces exchange precision rules.

R

Rate Limits

Restrictions imposed by exchanges on how many API requests may be made within a time window.

Aurono is designed to operate well within these limits.

Realized P&L

The profit or loss from a completed round trip. Calculated as: proceeds (what you received) minus cost basis (what you paid for those units, based on ACB at the time of sale).

Only round trips (completed sells paired with prior buys) produce realized P&L. A buy on its own changes your position and ACB but does not book P&L until a matching sell settles.

See also: Round Trip, Average Cost Base (ACB).

Round Trip

A completed BUY→…→SELL pair that has produced realized P&L. Counted per sell-side fill with matched cost basis and proceeds.

Distinct from a trade: a single BUY attempt is one trade but not a round trip until a matching SELL settles.

Where it appears:

The Round trips stat on the Analytics page and strategy cards
The “N round trips, +€X realized” line in the Evaluate tab’s verdict paragraph
The Round trips column in the weekly email report
Milestones: First round trip, 10 round trips, 25 round trips, etc.

Rebalance

The act of moving capital between strategies to optimize allocation. Done through Lab → Rebalance. Capital can only move between strategies on the same exchange.

See also: Capital Safety Check, Utilization.

RSI (Relative Strength Index)

A momentum indicator between 0 and 100. RSI compares the average size of recent up moves against the average size of recent down moves, over a configurable number of closed candles (the RSI period).

A low value means down moves have dominated, commonly called oversold. A high value means up moves have dominated, commonly called overbought. 50 is the balance point.

RSI does not measure price itself: two assets at completely different prices can report the same RSI value. Aurono uses Wilder’s smoothing, the original 1978 calculation, so values match other charting tools over the same candles.

Where it appears:

Strategy Lab → Explore, as a chart below the price chart
RSI confirmation, as an optional condition on a strategy

RSI Confirmation

An optional second condition on a strategy, off by default. When configured, a buy requires RSI at or below the RSI buy ceiling and a sell requires RSI at or above the RSI sell floor, on top of the normal price trigger.

RSI confirmation can only block a trade, never cause one.

RSI is evaluated before cooldown, capital, inventory and the average cost base rule, so a signal blocked by RSI reports “RSI not oversold” or “RSI not overbought” and no later reason.

See also: RSI (Relative Strength Index), Buy Trigger (Drop %), Sell Trigger (Rise %).

S

Sell Amount

The fixed amount of quote currency (for example EUR) received for each executed SELL trigger.

The sell amount:

Is strategy-specific
Determines how quickly inventory is reduced

Sell Trigger (Rise %)

The minimum percentage rise between two consecutive candle closes required to allow a sell.

A sell is executed only if:

The rise trigger is met and
The price clears the Average Cost Base plus the fee-safety margin and
RSI confirms the signal, when RSI confirmation is configured

Sigma (σ)

A multiplier applied to historical price volatility to determine how extreme a price move must be before a trigger fires.

Higher sigma:

Fewer triggers
More patience
Lower capital pressure

Lower sigma:

More frequent triggers
Higher clustering
Increased capital stress

BUY and SELL sigmas are independent.

Slippage

Slippage is the difference between the expected price of a trade and the actual execution price.

Slippage typically occurs when:

Markets are volatile
Liquidity is low
Orders are executed using market or stop-market orders

In Aurono:

Slippage is minimized by using limit orders only
Aurono defines strict price boundaries before execution
Trades will never execute outside the specified limit price

Slippage is therefore treated as a risk to be avoided, not managed reactively.

Starting Capital

The amount of quote currency a strategy started with - the sum of all cash deposited into that strategy, minus withdrawals, plus the market value of any position bootstrapped at creation, on the day the strategy began (not the average cost you entered).

Starting capital is used as the reference line in the Evaluate tab’s charts and as the base for the Benchmark insight card’s comparisons against Buy & Hold and monthly DCA. The danger zone warning no longer uses starting capital: it appears when available cash covers fewer than two more buys.

Synonyms: allocated capital (legacy term, still seen in some places).

See also: Available Cash, Reserved Cash.

Start on Hold

A checkbox on the Create Strategy page. A strategy created with it ticked is saved paused: it places no orders until you press Resume on its page. Useful for checking a new strategy before it trades, especially with live trading.

Editing a paused strategy keeps it paused, whether you paused it yourself, created it on hold or it was paused automatically when you switched to live trading. Only Resume starts it.

Strategy

A strict set of rules defining:

When Aurono may buy
When Aurono may sell
How much capital may be used

A strategy is enforced exactly as defined.

Strategy Version

An immutable snapshot of a strategy’s parameters. Any change to strategy settings creates a new version. Previous versions are preserved in history.

T

Total Value

The current total worth of a strategy: available cash + reserved cash + current market value of any position held.

This is the number the Evaluate tab shows in the first card of its metrics strip. The position is valued at the most recent price Aurono has for that coin, whichever strategy fetched it, so a strategy on a daily or weekly timeframe isn’t stuck with a price from its last candle. Paused strategies are valued at today’s prices too; an archived strategy keeps the value its position had on the day it was archived.

Theoretical EUR Required

The authoritative capital requirement calculated as:

Max net buys required × BUY amount

If allocated capital covers this amount, the strategy is capital-safe by design.

Ticker Price

See Live Price.

Taker Fee

The fee charged by the exchange when your order fills immediately by matching an existing order on the book. Aurono uses the taker fee rate for sizing calculations, because limit orders at trigger threshold prices typically fill as taker orders.

Timeframe

The interval at which candles are evaluated.

Aurono supports:

1h (hourly)
4h (4-hour)
1d (daily)
1w (weekly)

Aurono evaluates strategies once per timeframe, at candle close.

Trade

The lifecycle of a single attempted inventory change, identified by a trade_id. Spans the full sequence: decision → intent → execution → settlement.

A trade is one-sided - a BUY attempt is one trade, a SELL attempt is another. It may result in zero, partial, or full execution. A trade can exist even if no order fills (e.g., the exchange rejected it or the intent was cancelled before submission).

The Audit trail drawer’s “Trades (N)” header counts trades in this sense: N is the total of all trade_ids for the strategy.

Distinct from:

Order - the exchange-side request (one order per trade)
Fill - the exchange-confirmed execution (one or more fills per order)
Round trip - a completed BUY→…→SELL pair that has produced realized P&L

See also: Order, Fill, Round Trip.

Trade Journal

The Trades tab on the Activity page. Shows every completed trade with a human-readable subtitle explaining why the trade happened - for example “Price dropped 5.3% - bought €10.00 worth.” The primary view for reviewing what Aurono has done.

Trigger Threshold

The exact price at which Aurono places a limit order. Calculated from the previous candle’s close price and the strategy’s trigger percentage.

BUY: prev_close × (1 − buy_drop_pct / 100)
SELL: prev_close × (1 + sell_rise_pct / 100)

The trigger threshold guarantees that fills respect the original signal boundary.

U

Unrealized P&L

The paper profit or loss on a strategy’s current position. Calculated as: (mark_price − ACB) × position_units. This changes with every price movement. It becomes realized P&L only when a sell executes.

Because it measures the distance to the ACB, the floor the strategy sells above, unrealized P&L is not a verdict on how the strategy has done. On a strategy that began with coins bought at a higher price, the two can point opposite ways. A ? beside the label in the app explains this, and on those strategies it also says how much of the gap was already there on day one.

Utilization

The percentage of a strategy’s total capital that is deployed (in crypto positions or reserved for pending orders). High utilization means little free capital for new buys. Visible in the Capital Rebalancer.

Formula: (position_value + reserved) / (free + reserved + position_value) × 100

V

Verdict Sentence

The one-paragraph summary shown near the top of the Evaluate tab. It covers days running, overall P&L, comparison against Buy & Hold and monthly DCA, and a round-trip count with realized P&L.

Example: “Patient XDC-EUR Trader has been running for 19 days. You’re at −€4.48 overall, −€3.54 vs buy & hold and −€4.67 vs monthly DCA. No round trips yet.”

The verdict sentence is prose, not a dashboard - it’s designed to be read naturally by someone checking in on their strategy without parsing numbers.

W

Withdraw Permission

An API permission that allows funds to be withdrawn from an exchange account.

Aurono requires:

Withdraw permissions to be disabled
API keys to be execution-only

Key Takeaway

Aurono’s terminology reflects its design goals:

Determinism
Capital preservation
Execution-only behavior
Transparency

If a term appears unclear elsewhere in the documentation, this glossary defines its exact meaning within Aurono.

Strategy Lab - Overview
Capital Safety Check Explained
BUY and SELL Sigma Explained
Why BUY or SELL Triggers Are Ignored
Trading Engine - How Aurono Executes Trades
Why Aurono Uses Limit Orders Only
Security & Fund Safety