Trail

trail-py

The reference implementation of Trail - a small, total, declarative language for computing financial indicators, scores, and screening strategies over panels of securities. Trail expressions compile to vectorized Polars operations.

The language specification (grammar, reference, standard library) lives in trail-language/spec.

model quality on us_main at annual {
    operating_margin = income.operating_income / income.revenue
    score om_score weight 7 {
        2 if operating_margin > 0.12
        1 if operating_margin > 0.05
        else 0
    }
    export composite = weighted_score()
}

Install

pip install trail-lang        # or: uv add trail-lang

CLI

trail validate models/quality.trail                 # parse, kind-check, dry-run
trail run models/quality.trail --model quality      # evaluate a model
trail run models/quality.trail --model quality --config trail.yaml
trail catalog                                       # discover fields, functions, sources
trail catalog income                                # fields in a namespace
trail catalog cagr                                  # describe a function

The standard library is loaded implicitly; pass --no-stdlib to opt out.

Library

from trail.pipeline import prepare
from trail.compiler import compile_model
from trail.fixtures import load_panel  # a bundled demo panel

program = prepare("model m { export margin = income.operating_income / income.revenue }")
model = next(d for d in program.decls if type(d).__name__ == "ModelDecl")
result = compile_model(model, {}).run(load_panel())

Architecture

Parser (Lark LALR) → typed AST → macro expansion (def inlining) → kind-checked validation → Polars compiler. The engine carries only irreducible primitives; the large derived function library is written in Trail itself and shipped as trail/stdlib/*.trail (canonical copy in the spec).

Development

uv sync
uv run pytest -q
uv run ruff check .

License

MIT.

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