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imamushroom

Tradestation EasyLanguage Question

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Hi,

 

I'm investigating which trading application to use in order to automate my trading. I'm very interested in TradeStation but need to know whether something is possible in EasyLanguage before I go ahead and open an account.

 

Is it possible to create a strategy which references two different time frames, for instance if the SMA6 and SMA14 are positive for the day AND the SMA6 on hour has been crossed by the market then buy or sell or whatever.

 

Is this possible? Could someone send me a basic example? I'm a Java programmer so know programming and will understand the example I'm sure.

 

Thanks for your time and help.

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Hi,

 

I'm investigating which trading application to use in order to automate my trading. I'm very interested in TradeStation but need to know whether something is possible in EasyLanguage before I go ahead and open an account.

 

Is it possible to create a strategy which references two different time frames, for instance if the SMA6 and SMA14 are positive for the day AND the SMA6 on hour has been crossed by the market then buy or sell or whatever.

 

Is this possible? Could someone send me a basic example? I'm a Java programmer so know programming and will understand the example I'm sure.

 

Thanks for your time and help.

 

This is very, very easy to do with EL, and I'm sure if you're programming with Java it won't require much explanation. The code to create an order condition would look like this (assuming by 'positive for the day' you mean trading above the SMA):

 

If C of Data1 > Average(C of Data1, 6) and C of Data2 > Average(C of Data2, 6) then . . .

 

The important bit to grasp is that you must set up your chart so that you've inserted the two relevant timeframes as Data1 and Data2. This is very easy - just right click, insert symbol, add the symbol which will appear as a subpane, right click, and adjust to the appropriate timeframe. If this second timeframe is only required for reference by the strategy and you don't need it for visual on-screen reference, then you can hide it.

 

Obviously Data2 could be a different symbol, allowing you to make trading decisions based on more than one instrument. However, you can't mix symbols with different delays in the same window, so here's a handy tip: find another derivative that is heavily arbitraged against the one you cannot insert and use that as a surrogate reference. For example, you can't mix the $TICK (based on NYSE data feeds) with the @ES futures (based on CME data feeds). But you could substitute the SPY Exchange Traded Fund (NYSE) but still use this to trade the @ES futures in most cash-session scenarios.

 

Hope that's helpful.

Edited by BlueHorseshoe
Embarassing Mistake In Simple EL Code!!!

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Is it possible to create a strategy which references two different time frames,

 

Here's a picture of a chart with a 1 min. and 9 minute time frame. The one minute data is a line, the 9 minute data is candlesticks.

 

I didn't know how to do this until I tried it. This could be useful. The bars can be made bigger, to make everything easier to view.

TwoTimeFrames.jpg.21b5ee93c0923d3ba44bc5a795b35e07.jpg

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.

 

The important bit to grasp is that you must set up your chart so that you've inserted the two relevant timeframes as Data1 and Data2.

 

In fact with Tradestation 9.1 which uses Object Oriented Easy Language, you don't even need to set up 2 charts and hide them. You set up two Priceseriesproviders. Each one can have different timeframes or symbols, which can be manipulated either in charts or on the same row of radarscreen.

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Hi BlueHorseShoe,

 

So, easyLanguage is now Object Orientated!! Excellent. Could you show me an example of the code associated with this example so that I get an idea of what you are talking about?

 

Thanks in advance.

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With multiple data sources, a strategy will not allow orders to be placed intrabar.

 

[intrabarOrderGeneration = True] ;

 

If the above line of code is present in a strategy that has multiple data streams in the chart, the strategy will automatically be turned off by the platform.

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With multiple data sources, a strategy will not allow orders to be placed intrabar.

 

[intrabarOrderGeneration = True] ;

 

If the above line of code is present in a strategy that has multiple data streams in the chart, the strategy will automatically be turned off by the platform.

 

MultiCharts can handle multi-data stream and intrabarordergeneration.

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