We shall now focus on the EasyLanguage programming language (see Fig. 1) that is part of theTradeStation software platform. Even its name implies that it is a encoding language for “non-programmers”. Its biggest benefit is that if you know the fundamentals of English and you are familiar with conditional functions in Microsoft Excel, you can very easily find out the substantial part of this programming language. The essential motivation for creation of EasyLanguage was a vision that algorithmic trading ought to be accessible to traders who definitely are not skilled in programming. I myself am a very good proof that EasyLanguage could be relatively easily mastered even if you do not have of any understanding of programming.
EasyLanguage allows you to create: Functions which are the backbone of EasyLanguage. Because of them this tradestation easylanguage would work for “non-programmers”. Functions contain programmed codes of technical indicators. Technical indicators would be the essential building blocks of robust ATS.
Indicators are technical indicators which are directly displayed in the price chart.
TradeStation and the Stochastic Fast indicator underneath the price chart
ATS (Strategy)- ATS enters and exits positions as defined in the programmed algorithm. TradeStation and an illustration of this a simple strategy displayed in the price chart. TradeStation and an illustration of this a basic strategy displayed within the price chart. EasyLanguage contains a huge number of pre-programmed functions and indicators which are the cornerstones of ATS. Therefore you save many hours of work right right away because there is no need to program these specific functions and indicators.
We now have explained that we now have software tools that may build almost unlimited quantity of ATS Yet we need to understand what the codes produced by the genetic programming “tell us”. In my courses I sometimes meet traders who use ATS the principles in which they absolutely tend not to understand. Regarding the stability from the psychology of trading this case is very disadvantageous for the trader. And so I prepared the course Building Winning Automated Trading Strategies with TradeStation in which I explain ATS codes in depth. Graduates of this course must be able to clearly identify the meaning of programmed algorithms. This can help them to boost the profitability of their trading because they get a lot more confident regarding the programmed ATS codes. Traders learn to understand the meaning and indications of:
Reserved Words which are words that EasyLanguage reserved for specific tasks. Without these words we would have to laboriously program individual algorithms, including BUY, MARKET, etc. Remarks that are words or opinions that this programming language completely ignores and this have absolutely no influence on the algorithm. Traders can utilize them for their own notes within the code.
Variables are user-defined words that serve for storing of certain information (that usually alterations in time). Variables allow adaptation of ATS to the present market conditions (as an example the current volatility). A variable might be, as an example, the ATR indicator the price of which changes with time.
Input parameters (Inputs) are numeric values ??which do not alternation in time. An example may be the length of the moving average of Close prices. Their value changes only if we, for instance, periodically re-optimise our ATS in accordance with the Cluster Walk Forward Analysis (CWFA). CWFA is the cornerstone in the robustness testing. It is 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 enter the marketplace. An entry prices are a predefined price breakthrough (e.g. Breakout) as well as the entry condition might be, for instance, a crossing of two indicators then the system enters the current market in the Close cost of the present 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 current market. An exit price is a predefined price level and the exit condition could be, as an example, a crossing of two indicators then the device exits the current market on the Close cost of the current bar.
Exit order type says us whether we exit by Market, Limit, Stop Market, Stop Limit, or any other order.
In this chapter we showed you how complex the issue of programming algorithms in the EasyLanguage programming language could be. EasyLanguage is certainly not really a perfect programming language (you will find much better programming languages, yet their ??primary purposes are other than trading), but it provides a very user-friendly solution for traders “non-programmers” who would like to seriously participate in building of robust ATS. The good news for every “non-programmer” trader is the fact this programming language as well as its basic features are relatively simple to learn.
For example, should you be acquainted with the basic principles of MS Excel, there is absolutely no reason why you should not learn EasyLanguage (I do believe that EasyLanguage is a lot easier than MS Succeed in many respects). Inside our course, beginners along with advanced ATS traders can very efficiently understand the basics of EasyLanguage codes and thanks to this understand the functionality of robust ATS. In the 4-day course we will provide you 4 codes of robust ATS, we are going to also analyse in detail one of many codes and explain the logical functionality from the codes. Thus you have a unique possibility to understand what work the codes can do for you personally within the markets.