We will 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 know the fundamentals of English and you understand conditional functions in Microsoft Excel, you can very easily understand the substantial part of this programming language. The fundamental motivation for introduction of EasyLanguage was a vision that algorithmic trading needs to be available to traders who definitely 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. Thanks to them this tradestation easy language is suitable for “non-programmers”. Functions contain programmed codes of technical indicators. Technical indicators are the essential building blocks of robust ATS.
Indicators are technical indicators that are 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 within the programmed algorithm. TradeStation and a good example of an easy strategy displayed in the price chart. TradeStation and an illustration of this an easy 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 much time of labor right right away 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 understand what the codes developed by the genetic programming “tell us”. Within my courses I sometimes meet traders who use ATS the principles of which they absolutely tend not to understand. Regarding the steadiness of the psychology of trading this case is very disadvantageous for your trader. And so I prepared the course Building Winning Automated Trading Strategies with TradeStation where I explain ATS codes in more detail. Graduates of this course will be able to clearly identify the meaning of programmed algorithms. This can help these to increase the profitability of the trading as they get far more confident about the programmed ATS codes. Traders figure out how to be aware of the meaning and warning signs of:
Reserved Words which are words that EasyLanguage restricted to specific tasks. Without these words we would need to laboriously program individual algorithms, like BUY, MARKET, etc. Remarks which can be words or opinions that this programming language completely ignores and that 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 typically changes in time). Variables allow adaptation of ATS to the present market conditions (as an example the current volatility). A variable could be, for instance, the ATR indicator the value of which changes over time.
Input parameters (Inputs) are numeric values ??which do not alternation in time. An illustration may be the entire moving average of Close prices. Their value changes only when we, for instance, periodically re-optimise our ATS in accordance with the Cluster Walk Forward Analysis (CWFA). CWFA will be the cornerstone from the robustness testing. It really 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 market. An entry price is a predefined price breakthrough (e.g. Breakout) and the entry condition may be, for instance, a crossing of two indicators and after that the program enters the market at the Close value 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 market. An exit cost is a predefined price level as well as the exit condition might be, for instance, a crossing of two indicators after which the system exits the market in the Close value of the present bar.
Exit order type says us whether we exit by Market, Limit, Stop Market, Stop Limit, or some other order.
Within this chapter we showed you how complex the problem of programming algorithms in the EasyLanguage programming language could be. EasyLanguage is certainly not really a perfect programming language (you can find far better programming languages, yet their ??primary purposes can also be than trading), nevertheless it delivers a very user-friendly solution for traders “non-programmers” who want to seriously take part in building of robust ATS. The good news for every “non-programmer” trader is the fact that this programming language along with its basic features are relatively simple to learn.
As an example, should you be knowledgeable about the basics of MS Excel, there is no reason why you need to not learn EasyLanguage (I believe that EasyLanguage is a lot easier than MS Succeed in many respects). In our course, beginners in addition to advanced ATS traders can very efficiently understand the basics of EasyLanguage codes and thanks to this be aware of the functionality of robust ATS. Within the 4-day course we will provide you 4 codes of robust ATS, we will also analyse in depth one of many codes and explain the logical functionality from the codes. Thus you have a unique possibility to know what work the codes can do for you personally within the markets.