We are going to now focus on the EasyLanguage programming language (see Fig. 1) which can be part of theTradeStation software platform. Even its name signifies that it is a programming language for “non-programmers”. Its biggest benefit is that if you understand the basic principles of English and you understand conditional functions in Microsoft Excel, you can very easily find out the substantial part of this programming language. The basic motivation for introduction of EasyLanguage was a vision that algorithmic trading needs to be offered to traders that are not skilled in programming. I myself am a really good proof that EasyLanguage may be relatively easily mastered even if there is no need of any understanding of programming.
EasyLanguage enables you to create: Functions which are the backbone of EasyLanguage. Because of them this tradestation easy language is acceptable for “non-programmers”. Functions contain programmed codes of technical indicators. Technical indicators are the essential building blocks of robust ATS.
Indicators are technical indicators which can be directly displayed inside the price chart.
TradeStation and also the Stochastic Fast indicator underneath the price chart
ATS (Strategy)- ATS enters and exits positions as defined in the programmed algorithm. TradeStation and a good example of an easy strategy displayed in the price chart. TradeStation and an illustration of this a simple strategy displayed inside the price chart. EasyLanguage contains a huge number of pre-programmed functions and indicators which are the cornerstones of ATS. Therefore you save several hours of work right right from the start because you do not have to program these particular functions and indicators.
We have explained that there are software tools that may build almost unlimited variety of ATS Yet we must understand what the codes created 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 steadiness from the psychology of trading this situation is extremely disadvantageous for the trader. And so I prepared the course Building Winning Automated Trading Strategies with TradeStation by which I explain ATS codes in more detail. Graduates of the course must be able to clearly identify the concept of programmed algorithms. This helps them to raise the profitability of their trading because they get much more confident regarding the programmed ATS codes. Traders learn how to understand the meaning and warning signs 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 that are words or opinions that this programming language completely ignores which have absolutely 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 could be, for instance, the ATR indicator the need for which changes over time.
Input parameters (Inputs) are numeric values ??that do not alternation in time. A good example may 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 based on the Cluster Walk Forward Analysis (CWFA). CWFA is definitely the cornerstone of the robustness testing. It is actually incorporated in uaullk TradeStation platform thanks to 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 market. An entry prices are a predefined price breakthrough (e.g. Breakout) as well as the entry condition could be, for instance, a crossing of two indicators and after that the device enters the marketplace in the Close value of the present 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 as well as the exit condition may be, for instance, a crossing of two indicators and after that the device exits the market on the Close value of the current bar.
Exit order type says us whether we exit by Market, Limit, Stop Market, Stop Limit, or any other order.
Within this chapter we showed you how complex the problem of programming algorithms within the EasyLanguage programming language could be. EasyLanguage is unquestionably not really a perfect programming language (you can find much better programming languages, yet their ??primary purposes can also be than trading), nevertheless it provides a very user-friendly solution for traders “non-programmers” who wish to seriously engage in building of robust ATS. The good news for each and every “non-programmer” trader is that this programming language along with its basic features are easy to learn.
As an example, if you are familiar with the fundamentals of MS Excel, there is not any reason why you need to not learn EasyLanguage (I believe that EasyLanguage is a lot easier than MS Succeed in many respects). Within our course, beginners as well as advanced ATS traders can very efficiently learn the basics of EasyLanguage codes and thanks to this be aware of the functionality of robust ATS. Inside the 4-day course we will give you 4 codes of robust ATS, we will also analyse in more detail one of many codes and explain the logical functionality from the codes. Thus there is a unique chance to understand what work the codes are capable of doing to suit your needs in the markets.