In this tutorial, we are going to see how to build a Show Me Indicator in Tradestation with Easylanguage.
Above all, this type of indicator helps to have visual input signals, especially when following many instruments.
Firstly, it can be used for doing a TradeStation backtests and visually analyzing of your trading system.
Let’s assume we want to build a stock trading system based on the moving average; this indicator gives us only the stock’s direction.
For example, we would like to open a long position when the price touches the moving average and rebounds.
Before starting to coding in EasyLanguage the trading system, we want to see on the chart if the idea can work.
Let’s start creating the indicator in EasyLanguage with TradeStation:
Here is how the indicator appears:
As a result, the green circles are the long signals, and the red circles are the short signals.
This is the Show Me MA Indicator’s code in EasyLanguage for TradeStation:
// TUTORIAL EASYLANGUAGE TRADESTATION
If MA>MA and MA>MA then
If MA<MA and MA<MA then
If MA>MA and MA>MA and Close>MA and Low<MA and Close>MA then
Plot1( Close+(Close*3/100),”Touch”,color,0,6 ) ;
When you install the indicator, a moving average will appear. To see the colored dots on the chart, format the Indicator and in the “Style Tab“, change “Type Line” to “Type Point“. Now all you have to do is increase the ”