Systems are used for Historical and System Library testing.
A system will typically consist of a combination of two or three entry conditions and one or two exit conditions. Entry and exit conditions can be broadly put into three categories: bar patterns, intermediate indicators, and long term indicators.
Bar patterns are composed of a combination of the opens, highs, lows, and closes of up to twenty bars. You can use the Create New Bar Pattern from the Systems menu to graphically create your own bar patterns. Bar patterns are excellent for pinpointing exact entry point for trades. They are rarely if ever used for exit conditions.
Intermediate indicators are composed of some of the popular indicators, such as stochastics or on balance volume. They cover a time period of several days to several weeks.
Longer term indicators are typically used to define the trend of a financial instrument, such as the Gann Trend Indicator, or are used to differentiate a financial instrument from other financial instruments based on criteria such as Relative Strength. There indicators can cover weeks to years.