Two Clocks: Discovery vs Execution Phases

Which of these numbers belongs on the discovery clock?

• The gap's standard deviation σ used to compute z-scores
• The z-score at today's close
• The fill price of today's entry

Why does the embargo block new entries for the first few bars of a test window?

• Because fees are higher at the start of a window
• Because the gap carries memory from one bar to the next, so the first test bars are still tied to the end of training
• Because the β-drift monitor needs a few bars to warm up