I'm currently going through a paper titled "101 Formulaic Alphas" by kakushadze but I don't know how to read the formulas.
For example Alpha #41: (((high * low) ^ 0.5) - vwap)
So does it mean to take the square root of the product of the high price and low price for the day then subtract vwap? Then? it does not tell me to whether buy or sell the security or any condition for any actions.
Am I missing a prerequisite knowledge on how to read this "code"?
I hope you can guide me or show me the proper way to read these alphas.
Thanks in advance!