EasyLanguage question

[trader3cnd]

Hello,

The following is portion of Easylanguage code generated by Automatic Pattern Search software (APS) that it sets the profit target and stop loss of an entry :

[color=blue]
input: targetpoints(0), stoppoints(0), multiplier(1);
variables: profitprice(0), stopprice(0);
profitprice = O of tomorrow + ( targetpoints * multiplier) points;
stopprice = O of tomorrow - ( stoppoints * multiplier) points;
sell next bar at profitprice limit;
sell next bar at stopprice stop;
[/color]

Question: If a EURUSD chart is used and target and stop are both 75 pips, should I set both targetpoints and stoppoints to 0.0075 and leave the multiplier equal to 1?

This seems not to work but makes sense to me.

I guess the EL word "points" is confusing to me.

Thanks in advance

 

[Tums]

here is the definition of Points in EasyLanguage:

Point

Returns a decimal numerical value, equivalent to a single fractional price unit for the data series that the study is applied to.

Usage
Point

Note
Point = 1/PriceScale

Examples

1 Point will return 0.01 for Google
8 Point will return 0.08 for E-mini S&P 500
8 Point will return 0.25 for T-Bond Futures

 

[trader3cnd]

Quote from Tums:

here is the definition of Points in EasyLanguage:

Thanks Tums I see that but they have no examples for forex prices.

Maybe when they wrote the manual forex was not popular

 

[jimbojim]

Quote from trader3cnd:

Thanks Tums I see that but they have no examples for forex prices.

Maybe when they wrote the manual forex was not popular

Is this program worth its money?

Jim

 

[Tums]

Quote from jimbojim:
Is this program worth its money?
Jim

I thinks so.
EasyLanguage is easy to program.
There are thousands of examples on the web.
Many people know the language; it is easy to find help.
This is a mature programming language.
It is 20+ years old; it has been tried and tested in real life trading.

 

[intradaybill]

Quote from Tums:

I thinks so.
EasyLanguage is easy to program.
There are thousands of examples on the web.
Many people know the language; it is easy to find help.
This is a mature programming language.
It is 20+ years old; it has been tried and tested in real life trading.

I agree. EasyLanguage is "easy" as compared to other languages used in some other platforms.

I also like Tradestation because they offer everything in a single package, data, backtesting, brokerage, etc.