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 indicates that it is a encoding language for “non-programmers”. Its biggest benefit is that if you know the basics of English and you are aware of conditional functions in Microsoft Excel, you can very easily find out the substantial part of this programming language. The fundamental motivation for creation of EasyLanguage was a vision that algorithmic trading ought to be available to traders that are not skilled in programming. I myself am an excellent proof that EasyLanguage can be relatively easily mastered even if you do not have of any knowledge of programming.
EasyLanguage allows you to create: Functions that are the backbone of EasyLanguage. Due to them this tradestation programming 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 can be directly displayed in the price chart.
TradeStation and also the Stochastic Fast indicator beneath the price chart
ATS (Strategy)- ATS enters and exits positions as defined inside the programmed algorithm. TradeStation and a good example of an easy strategy displayed in the price chart. TradeStation and an example of a simple strategy displayed within the price chart. EasyLanguage contains a huge number of pre-programmed functions and indicators that are the cornerstones of ATS. Therefore you save many hours of employment right from the beginning because there is no need to program these types of functions and indicators.
We now have explained that there are software tools that can build almost unlimited variety of ATS Yet we need to know what the codes created by the genetic programming “tell us”. In my courses I sometimes meet traders who use ATS the principles of which they absolutely do not understand. Regarding the steadiness in the psychology of trading this example is extremely disadvantageous for your 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 helps them to increase the profitability of their trading because they get much more confident concerning the programmed ATS codes. Traders learn to understand the meaning and warning signs of:
Reserved Words which are words that EasyLanguage reserved for specific tasks. Without these words we will have to laboriously program individual algorithms, like BUY, MARKET, etc. Remarks that are words or opinions that this programming language completely ignores which have virtually no influence on the algorithm. Traders can use them for their own notes within the code.
Variables are user-defined words that serve for storing of certain information (that typically 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 value of which changes over time.
Input parameters (Inputs) are numeric values ??which do not improvement in time. A good example may be the length of the moving average of Close prices. Their value changes only when we, for instance, periodically re-optimise our ATS according to the Cluster Walk Forward Analysis (CWFA). CWFA will be the cornerstone from the robustness testing. It really is incorporated in uaullk TradeStation platform due to in which the platform clearly beats its competitors.
Entry prices and Entry conditions determine at what price and under what conditions to get in the marketplace. An entry price is a predefined price breakthrough (e.g. Breakout) and the entry condition might be, as an example, a crossing of two indicators after which the device enters the market in the Close cost of the current bar.
Entry order type says us whether we enter by Market, Limit, Stop Market, Stop Limit, or any other order.
Exit prices and Exit conditions determine at what price and under what conditions to exit the current market. An exit cost is a predefined price level and the exit condition may be, for instance, a crossing of two indicators after which the system exits the market at the Close price of the present 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 the way complex the issue of programming algorithms in the EasyLanguage programming language might be. EasyLanguage is undoubtedly not really a perfect programming language (there are much better programming languages, yet their ??primary purposes can also be than trading), however it offers a very user-friendly solution for traders “non-programmers” who would like to seriously engage in building of robust ATS. The good news for every “non-programmer” trader is the fact this programming language and its basic features are easy to learn.
For instance, if you are acquainted with the basics of MS Excel, there is no reason why you ought to not learn EasyLanguage (I think that EasyLanguage is easier than MS Excel in many respects). Inside our course, beginners along with advanced ATS traders can very efficiently understand the basics of EasyLanguage codes and because of this be aware of the functionality of robust ATS. In the 4-day course we will give you 4 codes of robust ATS, we are going to also analyse in depth one of the codes and explain the logical functionality from the codes. Thus you have a unique possibility to know what work the codes can do to suit your needs inside the markets.