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TradeStation EasyLanguage for Algorithmic Trading
TradeStation EasyLanguage for Algorithmic Trading

TradeStation EasyLanguage for Algorithmic Trading: Discover real-world institutional applications of Equities, Futures, and Forex markets

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Profile Icon Domenico D'Errico
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€29.99
Paperback Sep 2024 282 pages 1st Edition
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Arrow left icon
Profile Icon Domenico D'Errico
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€29.99
Paperback Sep 2024 282 pages 1st Edition
eBook
€8.99 €23.99
Paperback
€29.99
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Free Trial
Renews at €18.99p/m
eBook
€8.99 €23.99
Paperback
€29.99
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Renews at €18.99p/m

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TradeStation EasyLanguage for Algorithmic Trading

Getting Hands-On with EasyLanguage

The TradeStation website, and the web in general, offers a plethora of training material on EasyLanguage, which can be disorienting for those who want to start learning this language. In this chapter, we have organized the training material to provide you with an effective starting point, aiming to get you quickly writing your first scripts. The chapter requires familiarity with basic concepts of mathematics and financial markets, but no experience in other programming languages is necessary.

In this chapter, you will learn how to create an EasyLanguage script, write basic code, and apply scripts to charts. The goal of the chapter is to equip you with basic programming skills to succeed in the subsequent chapters.

This is what you will learn about in this chapter:

  • Understanding the basics of EasyLanguage
  • Writing indicators
  • Writing strategies

Understanding the basics of EasyLanguage

This section explores the fundamentals of EasyLanguage, offering a comprehensive understanding of its syntax, structure, and capabilities. In this section, we will cover the following topics:

  • What is EasyLanguage?
  • How EasyLanguage works
  • Words
  • Expressions
  • Statements
  • Punctuation

What is EasyLanguage?

EasyLanguage comprises words, operators, and punctuation, amalgamated to formulate rules or instructions grounded in market data. These directives guide TradeStation in executing various analytical tasks. The rules and instructions, along with their resultant tasks, operate on the basis of “bars” and the data encapsulated within each bar.

The following primary data is contained in each bar of a chart:

  • Open: The price level the bar opened at
  • High: The highest price level in the bar
  • Low: The lowest price level in the bar
  • Close: The price the bar closed at
  • Date: The date of...

Writing indicators

Many trading projects and ideas arise from observing charts; this is the reason why indicators are at the basis of algorithmic trading. Indicators consist of mathematical calculations made on data that are used to draw plots on a chart. These plots are usually lines, histograms, or dots. Please note that TradeStation often uses the terms indicators, studies, and analysis techniques synonymously.

We are now going to program the following indicators:

Exercise

Indicators

Learning Purpose

01

Close

Using one plot statement in an indicator

02

Close Open

Using two plots statements in an indicator

03

RealBody

Using mathematical operations in...

Writing strategies

Let’s now move from indicators to strategies. A TradeStation strategy is a tool to automate rule-based trading signals, back-test them on historical data, and use them in real trades. Please bear in mind that in TradeStation, all strategies need charts on which they can be applied, and strategies use the same chart’s historical and real-time data.

In this section, we are going to learn about the following:

  • How to program a basic strategy
  • The order syntax
  • MaxBarsBack
  • How to program take profit and stop loss levels

How to program a basic strategy

In order to create a new strategy, follow these instructions:

  1. From the Editor’s menu, go to File | New | Strategy.
  2. Type the name you want to assign.
  3. Click OK.
  4. If the EasyLanguage Editor displays a default script, delete it by pressing Ctrl + A and then Ctrl + Z.

Let’s write a basic strategy to get to grips with order syntax:

Input: Length...

Summary

In this chapter, we learned the basics of EasyLanguage, how to manage the TradeStation development environment, how to program simple indicators and strategies, and how to handle both of them together as a whole. What you learned in this chapter will be very useful in the next chapters when you build real-life trading tools. This, of course, doesn’t provide exhaustive coverage of the vast subject matter related to EasyLanguage. On the TradeStation website, you can easily find a wealth of useful material to expand your knowledge and delve into specific topics.

In any case, if you have made it this far, it means you have acquired the basics necessary to progress to the next chapter, where, while the focus will still remain on learning EasyLanguage, we are going to change the perspective a bit by dealing with real cases encountered in the professional world. This is done with the purpose of preparing you for the real challenge that all algorithmic traders have to face...

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Key benefits

  • Learn how to use TradeStation EasyLanguage for algorithmic trading
  • Explore real-life algorithmic trading tools on Equities, Futures, and Forex
  • Enhance technical trading with a blended approach that includes machine learning
  • Purchase of the print or Kindle book includes a free PDF eBook

Description

With AI revolutionizing financial markets, every trader will soon get easy access to AI models through free Python libraries and datasets, with all of them making the same trades! This behavior will modify prices and trading volumes, potentially altering future datasets, leading to major corporations investing heavily in technology, big data, and expert teams. However, individual traders need not be intimidated because this dynamic has been seen before whenever new technologies have entered the trading market. Written by a quantitative algorithmic trading developer with over 15 years of experience in the finance industry, this book will ground you by taking a rational approach to algorithmic trading, where EasyLanguage, datasets, charts, and AI are tools for your journey toward mastering the markets. Your unique human intelligence remains invaluable in navigating and understanding market complexities as you explore the realm of institutional insights, satisfying your hunger to learn real-world algorithmic trading applications from the institutional perspective. By the end of this book, you’ll be able to confidently apply TradeStation EasyLanguage to algorithmic trading, integrate machine learning to refine your strategies, and craft a personalized approach to confidently navigate the financial markets.

Who is this book for?

This book is for individual traders with over a year's experience in discretionary trading, with no programming skills, as well as for those who've grappled with market losses and the inundation of trading theories lacking statistical backing.

What you will learn

  • Develop a scientific market mindset based on observations and statistics
  • Set up the TradeStation EasyLanguage environment for algorithmic trading purposes
  • Find out how to build Equity, Futures, and Forex market algorithmic tools
  • Get to grips with programming risk management algorithms
  • Discover how to program EasyLanguage for mechanical trading
  • Enhance technical trading with the help of machine learning
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Publication date : Sep 30, 2024
Length: 282 pages
Edition : 1st
Language : English
ISBN-13 : 9781835881200
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Length: 282 pages
Edition : 1st
Language : English
ISBN-13 : 9781835881200
Category :

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Table of Contents

12 Chapters
Chapter 1: Introduction to Algorithmic Trading and the TradeStation Platform Chevron down icon Chevron up icon
Chapter 2: Getting Hands-On with EasyLanguage Chevron down icon Chevron up icon
Chapter 3: Writing a Trend Strategy Chevron down icon Chevron up icon
Chapter 4: Strategy Backtesting and Validation Chevron down icon Chevron up icon
Chapter 5: Reversal Strategies Chevron down icon Chevron up icon
Chapter 6: Trend Pullback Strategies Chevron down icon Chevron up icon
Chapter 7: Risk Management Chevron down icon Chevron up icon
Chapter 8: Futures and Forex Algorithmic Trading Chevron down icon Chevron up icon
Chapter 9: The Trading Operational Plan Chevron down icon Chevron up icon
Chapter 10: EasyLanguage in AI – Bridging Traditional Trading and Advanced Analytics Chevron down icon Chevron up icon
Chapter 11: EasyLanguage for Machine Learning Chevron down icon Chevron up icon
Index Chevron down icon Chevron up icon
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