For macro time series that are seasonally adjusted, like CPI, you no longer need to use the confusing PITSeries() function in a backtest. It has been deprecated and removed from the reference.
This function was needed to recreate the series correctly for the as-of date. But now, when referencing these seasonally adjusted series in backtests, we just just do the right thing without this complication.
If you are using PITSeries() in your formulas you do not need to do anything since it does nothing at all now. Only users that were using seasonally adjusted macro series without PITSeries will notice a difference since it will now produce the correct results.
Very sorry about PITSeries(). It was totally unnecessary and confusing.
If I go to Multi Charts and create a chart with INDPR Raw and INDPRO PIT the data (lines) do not match. Its the same with UNRATE. Can you explain? Thanks for the help, Rick
The PIT option on Multi Chart shows the latest value available per date. This plot is useful when one only needs the latest value for any date. Running a screen with @:Close(0, ##UNRATE) on any given date will match this plot.
The Raw option on Multi Chart shows the historical series revised as of the End Date of the configured Date Range (defaults to Today, see the … button at the top to customize). This plot is useful when one wants to see historical trends looking back from a given end date. Points are plotted on their corresponding calendar date. (If End Date is Today, it's supposed to match plotting Close(0, ##UNRATE) on Fundamental Chart, but the dates of this monthly series are treated as the first of the month in that context, whereas they should be the end of the month.)
I hope this explanation is clear. Let me know if you have further questions.