We will now focus on the EasyLanguage programming language (see Fig. 1) that is part of theTradeStation software platform. Even its name signifies that it is a encoding language for “non-programmers”. Its biggest benefit is that if you understand the fundamentals of English and you understand conditional functions in Microsoft Excel, you can quickly learn the substantial part of this programming language. The essential motivation for development of EasyLanguage was a vision that algorithmic trading should be offered to traders that are not skilled in programming. I myself am a very good proof that EasyLanguage can be relatively easily mastered even if you do not have of any understanding of programming.
EasyLanguage lets you create: Functions what are the backbone of EasyLanguage. Because of them this tradestation programming is suitable even for “non-programmers”. Functions contain programmed codes of technical indicators. Technical indicators are the essential foundations of robust ATS.
Indicators are technical indicators that are directly displayed inside the price chart.
TradeStation and the Stochastic Fast indicator beneath the price chart
ATS (Strategy)- ATS enters and exits positions as defined within the programmed algorithm. TradeStation and an example of a simple strategy displayed within the price chart. TradeStation and an example of a basic strategy displayed in the price chart. EasyLanguage contains a large number of pre-programmed functions and indicators what are the cornerstones of ATS. Therefore you save much time of labor right right from the start because there is no need to program these specific functions and indicators.
We have explained that there are software tools that may build almost unlimited quantity of ATS Yet we must know what the codes developed by the genetic programming “tell us”. Within my courses I sometimes meet traders who use ATS the principles in which they absolutely usually do not understand. Regarding the steadiness in the psychology of trading this case is extremely disadvantageous for your trader. And so I prepared the course Building Winning Automated Trading Strategies with TradeStation by which I explain ATS codes in depth. Graduates of the course must be able to clearly identify the meaning of programmed algorithms. It will help these to increase the profitability with their trading as they get far more confident about the programmed ATS codes. Traders learn to understand the meaning and signs of:
Reserved Words that are words that EasyLanguage restricted to specific tasks. Without these words we would need to laboriously program individual algorithms, such as BUY, MARKET, etc. Remarks that are words or opinions that this programming language completely ignores which have simply no influence on the algorithm. Traders can utilize them for their particular notes in the code.
Variables are user-defined words that serve for storing of certain information (that generally changes in time). Variables allow adaptation of ATS to the present market conditions (for instance the current volatility). A variable may be, for example, the ATR indicator the need for which changes with time.
Input parameters (Inputs) are numeric values ??that do not alternation in time. A good example could be the entire moving average of Close prices. Their value changes only if we, as an example, periodically re-optimise our ATS based on the Cluster Walk Forward Analysis (CWFA). CWFA is the cornerstone of the robustness testing. It really is incorporated in uaullk TradeStation platform because of that the platform clearly beats its competitors.
Entry prices and Entry conditions determine at what price and under what conditions to get in the market. An entry cost is a predefined price breakthrough (e.g. Breakout) and the entry condition could be, as an example, a crossing of two indicators and after that the device enters the current market in the Close price of the current bar.
Entry order type says us whether we enter by Market, Limit, Stop Market, Stop Limit, or other order.
Exit prices and Exit conditions determine at what price and under what conditions to exit the market. An exit cost is a predefined price level as well as the exit condition might be, for example, a crossing of two indicators and after that the system exits the marketplace at the Close value of the present bar.
Exit order type says us whether we exit by Market, Limit, Stop Market, Stop Limit, or other order.
In this chapter we showed you the way complex the issue of programming algorithms inside the EasyLanguage programming language could be. EasyLanguage is unquestionably not really a perfect programming language (there are significantly better programming languages, yet their ??primary purposes are also than trading), but it delivers a very user-friendly solution for traders “non-programmers” who want to seriously participate in building of robust ATS. The good thing for each and every “non-programmer” trader is the fact this programming language as well as its basic features are easy to learn.
For example, if you are familiar with the basics of MS Excel, there is not any reason why you need to not learn EasyLanguage (I believe that EasyLanguage is easier than MS Excel in many respects). Inside our course, beginners as well as advanced ATS traders can very efficiently discover the basics of EasyLanguage codes and because of this understand the functionality of robust ATS. Within the 4-day course we will give you 4 codes of robust ATS, we are going to also analyse in depth among the codes and explain the logical functionality from the codes. Thus you have a unique chance to understand what work the codes can do for you inside the markets.