We shall now focus on the EasyLanguage programming language (see Fig. 1) which is part of theTradeStation software platform. Even its name indicates that it is a programming language for “non-programmers”. Its biggest advantage is that if you know the basics of English and you understand conditional functions in Microsoft Excel, you can quickly find out the substantial part of this programming language. The fundamental motivation for creation of EasyLanguage was a vision that algorithmic trading needs to be offered to traders who definitely are not skilled in programming. I myself am an excellent proof that EasyLanguage could be relatively easily mastered even if you do not have of any knowledge of programming.
EasyLanguage enables you to create: Functions what are the backbone of EasyLanguage. Thanks to them this tradestation programming is suitable for “non-programmers”. Functions contain programmed codes of technical indicators. Technical indicators are definitely the essential building blocks of robust ATS.
Indicators are technical indicators which can be directly displayed inside the price chart.
TradeStation as well as the Stochastic Fast indicator beneath the price chart
ATS (Strategy)- ATS enters and exits positions as defined inside the programmed algorithm. TradeStation and an example of an easy strategy displayed in the price chart. TradeStation and an example of a basic strategy displayed inside the price chart. EasyLanguage contains a large number of pre-programmed functions and indicators what are the cornerstones of ATS. Therefore it can save you several hours of work right right from the start because you do not have to program these types of functions and indicators.
We now have explained there are software tools that will build almost unlimited quantity of ATS Yet we must know very well what the codes created by the genetic programming “tell us”. Inside my courses I sometimes meet traders who use ATS the principles of which they absolutely do not understand. Pertaining to the stability in the psychology of trading this case is extremely disadvantageous for the trader. And for that reason I prepared the course Building Winning Automated Trading Strategies with TradeStation by which I explain ATS codes in more detail. Graduates with this course should be able to clearly identify the concept of programmed algorithms. This can help those to boost the profitability with their trading because they get far more confident about the programmed ATS codes. Traders figure out how to be aware of the meaning and indications of:
Reserved Words that are words that EasyLanguage reserved for specific tasks. Without these words we will have to laboriously program individual algorithms, such as BUY, MARKET, etc. Remarks which can be words or opinions that the programming language completely ignores and that have absolutely no influence on the algorithm. Traders can use them for their particular notes inside the code.
Variables are user-defined words that serve for storing of certain information (that usually modifications in time). Variables allow adaptation of ATS to the present market conditions (for example the current volatility). A variable may be, for instance, the ATR indicator the value of which changes as time passes.
Input parameters (Inputs) are numeric values ??which do not improvement in time. An example could be the length of the moving average of Close prices. Their value changes as long as we, as an example, periodically re-optimise our ATS according to the Cluster Walk Forward Analysis (CWFA). CWFA is the cornerstone from the robustness testing. It is actually incorporated in uaullk TradeStation platform because of in which the platform clearly beats its competitors.
Entry prices and Entry conditions determine at what price and under what conditions to get into the marketplace. An entry price is a predefined price breakthrough (e.g. Breakout) and also the entry condition could be, for instance, a crossing of two indicators then the system enters the marketplace on the Close price of the current bar.
Entry order type says us whether we enter by Market, Limit, Stop Market, Stop Limit, or some other order.
Exit prices and Exit conditions determine at what price and under what conditions to exit the marketplace. An exit price is a predefined price level and the exit condition might be, as an example, a crossing of two indicators after which the device exits the current market in the Close value of the existing bar.
Exit order type says us whether we exit by Market, Limit, Stop Market, Stop Limit, or any other order.
In this particular chapter we showed you the way complex the issue of programming algorithms inside the EasyLanguage programming language might be. EasyLanguage is certainly not really a perfect programming language (you can find far better programming languages, yet their ??primary purposes are also than trading), nevertheless it delivers a very user-friendly solution for traders “non-programmers” who wish to seriously take part in building of robust ATS. The good news for every “non-programmer” trader is that this programming language along with its basic features are relatively easy to perfect.
As an example, in case you are familiar with the fundamentals of MS Excel, there is absolutely no reason why you need to not learn EasyLanguage (I believe that EasyLanguage is easier than MS Excel in many respects). In our course, beginners in addition to advanced ATS traders can very efficiently learn the basics of EasyLanguage codes and due to this be aware of the functionality of robust ATS. In the 4-day course we will provide you 4 codes of robust ATS, we shall also analyse in depth one of the codes and explain the logical functionality of the codes. Thus you have a unique possibility to understand what work the codes can perform to suit your needs inside the markets.