EasyLanguage, created more than two decades ago by TradeStation Securities, is a programming language used for trading stocks, EFTs and similar such products. The language is utilized to create custom indicators for financial charts and to create algorithmic trading techniques for various markets.
EasyLanguage has several advantages over other similar programming languages. Unlike other languages found in the financial market trading sectors, like FORTRAN, this language is not hard to find out having been created for use by traders without specialized computer and programming knowledge. Commands within the language are simple enough that somebody not trained in tradestation programming would be able to figure out the purpose and performance of a line of code with minimal training and perhaps only a reference book to use as tips. The usage of simple English as opposed to code implies that companies making use of the language need to lower your expenses time and resources on training their traders, which translates in the end into greater profit.
Even though language was made by TradeStation, other trading platforms quickly found on the language and began to support scripts written in it as well as increase compatibility with scripts published by TradeStation. Other proprietary high-end automated trading platforms have even, to varying degrees, incorporated language elements comparable to TradeStation’s.
Even though it is possible for one to define one’s own, unique functions inside the language, it is far from expected that a lot of individuals will do that. This way, the language functions as a logical programming language as opposed to a functional programming language.
Because it is so simple to learn, the language enjoys a reasonable quantity of popularity among traders. As a result, a quick search on the internet will demonstrate that a multitude of tutorials and script depositories are for sale to those considering learning ways to use the language. In addition there are numerous communities and forums dedicated to the language, so guidance is never far if a person gets stuck hoping to get the language to perform a needed function. There are also several books offered to help those developers who often enter into great detail with the language.
Another advantage that this language has is its longevity and compatibility. Because this has been around for more than two decades, the language is trusted in the financial community and contains shown which it isn’t going anywhere soon. Because of this, it is widespread and several competitor languages, such as MultiCharts’ own proprietary language PowerLanguage, took steps to make certain that it offers some compatibility and the opportunity to connect with the venerable language.
Even though the TradeStation trading package includes a multitude of trading indicators known as analysis techniques, many who use TradeStation develop the desire to incorporate or customize their own indicators using TradeStation code. This short article will demonstrate how to produce a simple indicator that displays the current trading volume as well as changes the visual indication of the volume to green when price closes up.
The easiest method to create a new indicator is to look for an existing indicator that partially addresses the prerequisites and then modify it further. For this particular example, the amount indicator that accompany TradeStation gives an acceptable foundation.
To begin dealing with TradeStation code, first open the quantity indicator using the EasyLanguage editor. EasyLanguage is definitely the programming language that TradeStation uses. Begin by right-clicking on any chart, and after that select Insert Analysis Technique from the pop-up menu. Through the dialog box that appears, pick the Indicator tab, and after that scroll down to find the Volume indicator in the list. Click once on the Volume indicator row to highlight it, and then click on the Edit EasyLanguage button underneath the uaullk box. The EasyLanguage editor will open using the code for the Volume indicator ready for editing.
EasyLanguage code is divided into three sections. The initial block defines the Inputs. These inputs can only be changed by formatting a warning sign once it has been included in a TradeStation chart. After the Inputs would be the Variables. These initialize when the indicator first launches in a session, and their values are modified using code. After both of these blocks is the actual code that executes.
Although the language is powerful, it provides its flaws. As the language was created to be used by end-users that are not necessarily programmers, it can often be difficult to have the language to perform tasks outside of its normal operating parameters. This is often overcome in some ways by various scripting techniques, but it is not a general programming language. In this way, the language’s strength is additionally its own weakness.