Strategy Backtest

WoM = back money / (back money + lay money) across the visible order book. A reading above 60% means significantly more money is queued to back the runner than to lay it — a leading indicator of market sentiment before BSP is set.

The strategy fires a BACK signal when WoM exceeds the threshold for N consecutive ticks, filtered to the 30-minute pre-race window. Multiple consecutive ticks eliminate noise from momentary liquidity spikes. The threshold and N are tunable in real time above.

In the live system, signals feed an Order Service that manages partial fills, hedge exits, and liability limits via Betfair's REST API. This backtest uses the raw streaming data and simple entry-at-signal, hold-to-start semantics for clarity.