More than anything, it's just a label, but I began calling it the MultiStage system a couple of years ago when I was working on it and had to save the code files. It was a natural name because trades are filtered through a series of stages.
Imagine water flowing through a series of filters. Maybe it first passes over some natural filters like granite rock, and then flows into a series of additional filters like carbon or other materials. Each time it passes through a filter some of the material, hopefully the bad stuff, is removed. That's exactly what happens with the system.
Now imagine that the final bit of perfectly purified water flows into a pool. But this flow of pure water is not alone. There are a dozen other streams of purified water that flow into the pool along with it, in order to increase the volume of water (trades)... but only pure water (high probability trade) is allowed.
I may be oversimplifying it, but that's the gist of it. The v7 part is simply a version number. Over time I have added new stages, set up many adjustable parameters and improved it quite a bit. You may remember the simple v6 to v7 change I made recently. I'm currently working on adding some new ideas to v8, but it's still a work in progress and nothing yet to write home about.
Good Trading...
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