EasyLanguage Essentials Programmer s Guide is a programmers introductio n to TradeStation’s EasyLanguage programming tools. This book is based on the current release of TradeStation 8.3. It is assumed that the reader has access to the TradeStation platform. EasyLanguage® documents (analysis techniques, strategies, and functions) include statements that allow you to access market data from analysis windows (charts and grids) and to control logic that can plot information and manage your trading rules. This help file includes topics about.
Do you want to know how to add text EasyLanguage on the chart with TradeStation automatically?
This EasyLanguage tutorial is made for you! Follow step by step what we will show you and you will be able to create a beautiful indicator that will automatically insert the text on your graphics.
To do this we will use the reserved word in easylanguage “Test_New”.
The indicator will follow the trend of a 14-period RSI and will signal the OverBought and OverSold areas.
Insert the Lenght for the RSI calculation – 14 is the standard value
The RSI_Value contains the RSI calculations
This is the calculation formula for the RSI – 14 periods
The condition is simple; when RSI is under 30 the indicator adds the text
Value1 is the variable that contains the text
Text_New is the EasyLanguage Reserved Word:
Value1 = Text_New(BarDate, BarTime, Price, “MyText”)
In this example we’re using:
BarDate = Date — Actual date
BarTime = Time — Actual time
Price = Low — Add text at Low Price for oversold and at High Price for OverBought
Text_SetColor(Text_ID, Color)
With the Reserved Word Text_SetColor you could choose the color.
Text_SetStyle(Text_ID, Horiz, Vert)
With the Reserved Word Text_SetStyle you could choose the horizontal and vertical placement settings for the text object.
Horizontal:
0 = To the right of the bar
1 = To the left of the bar
2 = To the center of the bar
Vertical:
0 = Beneath the price
1 = Above the price
2 = Centered on the price
MORE FREE EASYLANGUAGE TUTORIALS HERE
How to avoid unnecessary text repetitions
The RSI indicator can remain overbought or oversold for numerous bars. The indicator will then add the text in each bar, creating a useless repetition.
To avoid this problem we will have to create an additional filter. For example, we will add the text only when the RSI changes from normal to oversold or overbought.
With these modifications, the text is added only when the change passes from normal to oversold or overbought.
More from Finance Strategy System
| Filename extensions | .eld |
|---|---|
| Influenced by | |
| Pascal[1] | |
EasyLanguage is a proprietary programming language that was developed by TradeStation and built into its electronic trading platform.[2] It is used to create custom indicators for financial charts and also to create algorithmic trading strategies for the markets. External DLL's can be referenced using EasyLanguage which greatly extends its functionality.
The language was originally intended to allow creation of custom trading strategies by traders without specialized computer training. Simple practical commands may consist of regular English words, which makes some of the basic elements of EasyLanguage more intuitive to learn than more complex programming languages.[3]
Example:
- Plain English: 'If the close is greater than the high of 1 day ago, then buy 100 shares at market.'
- EasyLanguage: 'if the Close > the High[1] then Buy 100 shares next bar at market;'
While rudimentary commands can be executed using plain language expressions, computer programming experience is generally required to take full advantage of the more sophisticated algorithmic features of Object Oriented EasyLanguage (OOEL), which has been influenced by Object Pascal, C#, and C++ and makes extensive use of classes and dynamic-link libraries.[4]
References[edit]
Easylanguage Essentials
- ^'EasyLanguage® Books'.
- ^'Archived copy'. Archived from the original on 2009-11-21. Retrieved 2009-11-26.CS1 maint: discouraged parameter (link) CS1 maint: archived copy as title (link)
- ^Easylanguage: domain specific language for trading stocks (2007-04-16), Lambda the Ultimate: The Programming Languages Weblog
- ^'OOEL'. Retrieved 2021-02-26.CS1 maint: discouraged parameter (link)