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Strategy Lab instead continuously maps a completed close strictly above its arithmetic SMA to LONG and otherwise to FLAT, starts FLAT, retains no short position, uses the latest lookback completed closes including the signal close, and executes state changes at the next UTC daily open. The source equation's t-k through t summation with a k denominator conflicts with its prose that daily SMAs consider the previous 12 or 24 days; the declared lookbacks follow the source's unambiguous SMA12/SMA24 labels and prose, while this current close-window implementation is explicitly not claimed to resolve that equation ambiguity."},{"type":"ACCOUNTING_CONVENTION_STRATEGY_LAB_DEFINED","detail":"The source expresses MA payoffs through signed continuous returns and reports performance over separate rolling windows; Strategy Lab uses fractional all-in long_flat USDT accounting with unchanged FLAT cash and terminal liquidation."},{"type":"COST_MODEL_STRATEGY_LAB_DEFINED","detail":"The source does not state Strategy Lab's frozen per-side transaction-cost schedule; Strategy Lab applies 15 bps primary cost with 20 and 25 bps diagnostic costs to both strategy and benchmark."},{"type":"STATISTICAL_TEST_STRATEGY_LAB_DEFINED","detail":"The source compares annualized return, Sharpe ratio, downside and spread performance measures (with risk-free rate zero for its Sharpe calculation) and makes no Strategy Lab HAC family decision. Strategy Lab applies excess_return_v2 independently to each member; its primary-plus-robustness rule makes SMA12 decisive and retains SMA24 as descriptive robustness only."}]}},"family":{"family_identity":"ff5152547e2c7a31376fef446bd733289cf40854e5ed196e15eaa2f24d7a7502","mechanism":"close_sma","symbol":"BTCUSDT","interval":"1d","exposure":"long_flat","execution":"next_daily_open","accounting":"fractional_all_in_terminal_liquidation_v1","benchmark":"identically_costed_buy_and_hold","evaluation_start_utc":"2020-06-01","evaluation_end_exclusive_utc":"2026-09-01","evaluation_days":2283,"maximum_warmup_days":24,"primary_cost_bps_per_leg":15,"diagnostic_cost_bps_per_leg":[20,25],"decision_rule":{"type":"primary_plus_robustness","version":"family_rule_v1","k":0,"n":2,"primary_member_id":"sma_12"},"members":[{"order":1,"id":"sma_12","decision_role":"primary","member_criterion_version":"excess_return_v2","parameters":[{"name":"lookback","value":12}],"warmup_days":12,"required_first_bar_utc":"2020-05-20","numerical_specification_identity":"e4a42c953fb7437af1a65db5abeb62f128d5e617791e103402ed49329c2af3ef","source_description":"Published daily SMA12 trend-following member: the paper identifies the 12-time-unit simple moving average as a daily rule and its discussion narratively highlights MA12 as the best daily SMA. 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