Trading System
Some of you may be wondering how to use the ESPL language to create a simple
Trading System. The following ESPL program opens an IBM daily chart and runs a
Trading System based on the crossing of two Simple Moving Average
lines. The system will buy when the average lines cross up. The
system will sell when the average lines cross down. The ResetTrades
command is used to initialize the trading system with no commissions and
specific trade arrows. A FOR loop and the GetStudy
command are used to loop through the bars and determine when the lines
cross. The Trade command is used to create each trade.
A TradeReport is printed in the Output window when the system is
finished. Arrows will mark each trade on the chart. Read the
on-line ESPL help documentation for details on each command.
Copy and Paste the following code to your Script Editor window to
try it out. Click the ESPL button in Ensign Windows to open
the Script Editor window. Paste the code into the left
window. Click the RUN button in the Script Editor
window to run the Trading System on the IBM chart. Change the symbol to
something else to test a different market. Substitute a different study
(like Stochastics) to test the crossing of different kinds of lines. The
code below includes a comment (at the end of the line) to
document each line. Select Chart | Trade Detail
from the Ensign Windows menu to view the individual trades generated by the
system, or click the Results button in the Script
Editor window.
var
{Start of Variable declarations}
i,Handle:
integer;
{Two variables are declared as Integers}
begin
{Start of Main Programming code}
Chart('IBM.D');
{Open an IBM daily chart}
Handle := AddStudy(eAve,5,20);
{Add Moving Averages to the chart}
ResetTrades(0,0,1,3); {Initialize
the Trading system}
for i:= BarBegin to BarEnd
do {Loop through the bars}
begin
{start of loop code}
if GetStudy(Handle,5,i)=1 then Trade(eBuy+eIf+eReverse,i); {look
for buys}
if GetStudy(Handle,5,i)=2 then Trade(eSell+eIf+eReverse,i); {look
for sells}
end; {end
of loop code}
Trade(eOut);
{Close-out the last open trade}
TradeReport(True);
{Print a Trading System Summary}
end;
{End of program}
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