How to transform any indicator in Histogram code tutorial cover

TradeStation Histogram: How to transform any indicator in Histogram

Share This Post

Share on facebook
Share on linkedin
Share on twitter
Share on email
Table of Contents

In this EasyLanguage Tutorial, we show you how to use the TradeStation Histogram visual mode.

Many traders don’t like to have the chart flooded with lines, drawings, and indicators.

They prefer to see the naked price.

Let’s take a simple example of a Moving Average from this link.

This moving average has an active slope function that indicates whether the direction is increasing or decreasing.
Obviously, only this information can be viewed through a histogram.
However, this information is very useful when we need a trend filter.

how to transform tradestation indicator into histogram

Let’s Start to transform a Moving Average into a TradeStation histogram

First of all, we modify the Tradestation EasyLanguage code in this way:

Input: 
MA_length(20);

vars: 
MA(0), 
color(white), 
MA_histo(1);

MA=average(Close, MA_length);

If MA>MA[1] and MA[1]>MA[2] then

color=Green;

If MA<MA[1] and MA[1]<MA[2] then

color=Red;

Plot1( MA_histo, “MA”,color,0,3 );

The TradeStation Indicator continues to calculate the moving average, but the command Plot1 instead of drawing the line with the value of the average price will draw the fixed amount “1”.

This happens because with this indicator we are interested only in seeing the color that changes when the average is descending or ascending (red and green).

Some indicator settings must also be changed in Tradestation :

Now you have only the TradeStation Histogram in your chart. The green-red histogram on TradeStation can be used to display a large number of indicators.

tradestation histogram EasyLanguage Indicator

We can also create another histogram that shows us when prices are below or above the moving average.

Also in this case with a red and green histogram, we will have the red color when the prices will be below the moving average while the green color will be above.

Input: 
MA_length(20), 
MA_histo(1);

vars: 
MA(0), 
color(white);

MA = average(Close, MA_length);

If Close>MA
color=Green;

If Close<MA then
color=Red;

Plot1( MA_histo, “MA”,color,0,3 );

Do you want to learn EasyLanguage & PowerLanguage for TradeStation and MultiCharts? Start here:

You can find many Indicator in the TradeStation TradingApp Store

tradestation TradingApp Store

More from Finance Strategy System

SuperTrend Multi Time Frame Indicator

The McClellan Summation Index || Technical Analysis

How to create a simple indicator

TradeStation Tutorials

EasyLanguage & PowerLanguage Tutorial – Time and Date

All about the Trend in Technical Analysis || Essential Tutorial

Free EasyLanguage Indicator

EasyLanguage – StartTime | EndTime | MultiCharts & TradeStation

TradeStation Forex Hourly Bias Indicator

NAAIM Exposure Index || What is and How Use It

ABOUT US

logo homepage finance strategy system

 Financial Strategy System was   created to share what we have   learned in the last 11 years in   the market.

 In this site we talk about trading,   finance, trading platform,   strategies, indicators,   automated trading systems and   programming.

 You can find dozens of free   tutorials and many technical   indicators to download for free.

error: Alert: Content is protected !!