FRank() and #Previous scope in Micro Cap Universe

I was looking over the micro cap predefined universe and trying to understand how the #Previous scope parameter works in the Frank() function.
The docs say it causes the rule to apply to the previous rule. I assume it refers to !ADR, in this case.

What exactly does that mean? I don’t understand what its doing.


#Previous in an FRank ranks the stocks that pass all the previous rules. If you didn’t have #Previous there you’d be ranking all the stocks in the starting universe instead of excluding MLPs and ADRs first.

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Ohh… rules, not rule.

What a difference an ‘s’ makes.
Thanks Yuval, that makes much more sense.
I was moving it up and down in the order trying to see how it was effected by the previous rule.

Someone may want to update the doc.
“Operates on the results from previous rule”

It’s there now :slight_smile: