This factor evaluates each horse’s recent performance by assigning numerical values based on their race rankings.

Only the last three races of each horse are considered.

The algorithm works as follows:

Rank1 refers to the horse’s position in its most recent race, and so on.

Steps:

(i) Calculate a total score for each horse based on its last three ranks.

(ii) Identify the lowest total score among all horses.

(iii) Divide the lowest score by each horse’s total to normalize the values.