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I'm been thinking of a new magic casting system for the MMO I'm working on and it would be something like this.
Each spell has a set amount of different runes.
Say anywhere from 3-9.
Each spell also has a rune pattern which is basicly just placement positions for the runes on your screen.
When you cast a spell, the rune pattern pops up on your screen, and you have to click the runes in the correct order to successfully cast a spell.
While you have your rune pattern up(you are in the process of casting a spell) you are susceptible to interrupts from damage.
This system has the benefit of having the caster in control of how quickly their spell casts, and also requires a good memory to remember which runes to click.
The system isn't set in stone, it's still in development, so I'm up for suggestions for improvements.