How to Create, Add and Edit Indicators, PaintBars and Strategies in the ProEdgeTrader with EasyLanguage™
What is EasyLanguage™?
EasyLanguage™ is a simple, but powerful, computer language for producing objective
rules and calculations that are used to create trading strategies and technical analysis tools like indicators and paintbar studies. By
combining common trading terminology with simple decision statements, EasyLanguage™
makes it easy for you to write your own indicators, paintbar studies and trading strategies in a clear and
straightforward manner. ProEdgeTrader reads your EasyLanguage™ statements, evaluates
them based on the price data that has been collected, and performs the specified actions like plotting an indicator on the chart, changing the color of the price bars or executing a trade.
EasyLanguage™ is designed so that traders can write their ideas in plain English using
trading terms and phrases with which they are already familiar with.
For example, compare
the following two statements of the same trading idea - the
first as if you had jotted the idea down on paper and the second as it might appear in
EasyLanguage™.
As jotted down on a piece of paper:
As written in EasyLanguage™:
Quick Start Guide to Creating and Adding Indicator, PaintBars
and Strategies with EasyLanguage™ Code in 5 Steps
Step 1. In order to create an Indicator, PaintBar or Strategy, you need to create a new
EasyLanguage™ document. To create a new EasyLanguage™ document: In the main ProEdgeTrader window click "View" > "Custom Indicators" > "Custom Indicator Library. All". This will open the a window titled "Custom Indicator Library. All".
Step 2. In the "Custom Indicator Library. All" window select "EasyLanguage (tm) Indicator" from the first icon located at the top left of this window. This will open a new window titled "Untitled.el".
(Note: For EasyLanguage trading strategies select "EasyLanguage (tm) Strategy ".)
This is the new window titled "Untitled.el".
Step 3. In the "Untitled.el" window completely delete the existing code.
Step 4. Now that the "Untitled.el" window is blank, you are ready to place EasyLanguage code in this window that will create your new Indicator, PaintBar or Strategy. In this example we are going to copy the EasyLanguage code for Keltner Channel Indicator from: http://lionsfutures.com/easylanguage_tutorials/easylanguage_library/easylanguage_indicators/keltner_channel.php and paste it into this blank "Untitled.el" window.
Paste Keltner Channel EasyLanguage into blank "Untitled.el" window.
Note: The ProEdgeTrader does not recognize the native file formats of TradeStation (.eld files).
Step 5. Now that you have pasted EasyLanguage Code for our new Keltner Channel Indicator, now just simply select the "Compile" button at the top of this window, type in "My Keltner Channel" for the name, select "Save". You have just created and imported your own Indicator with EasyLanguage code. Open a chart window and apply your new indicator by clicking "Indictors" > "Imported" > "My Keltner Channel". The same process applies for creating EasyLanguage PaintBar studies and EasyLanguage Strategies.
All newly created EasyLanguage Indicators and PaintBars are placed to the "Imported" category of the Indicators drop down list.
All newly created EasyLanguage Trading Strategies are found by right clicking on the background of a chart, then select "Trading" > "Trading Strategy Manager". Drag and drop the Trading Strategy from the right window into the left window.
This Page discusses how TradeStation EasyLanguage allows you to develop and implement custom indicators, paintbar studies
and trading strategies. However, neither Lions Futures Management nor its affiliates provide or suggest any
specific indicator, paintbar study or trading strategy. We offer unique tools to help you design indicators, paintbar studies and strategies and
measure how they could have performed in the past. While we believe this is very valuable information, we
caution you that simulated past performance of a trading strategy, indicator or paintbar is no guarantee of its future performance or success. We also do not recommend or solicit the purchase or sale of any particular futures contract or derivative products. Any indicators, paintbar studies or trading strategies referenced in this page are used only for the purposes of the
demonstration, as an example, not a recommendation.
Please note that even though
ProEdgeTrader has been designed to automate trading strategies, access to the Internet, real-time data, and trade
servers may at times be delayed or even fail due to market volatility, quote delays, system and software errors,
internet traffic, outages and other factors.
While every precaution has been taken in the preparation of this page, Lions Futures Management assumes no
responsibility for error or omission, or for any damages resulting from the use of the information contained
herein. |
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