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Up and Down Volume

by Bill Brower on May 13, 2016 | Categories: Uncategorized |

Up and Down Volume

Market prices are determined by traders issuing market orders. That is to be distinguished from those using limit orders. A trader that absolutely must get filled immediately issues a market order. The market seen by traders is composed of a bid price and an ask price. This is known as the bid ask spread. Market orders always get filled at an unfavorable price by the execution on the opposite side of the bid ask spread. So a market order to buy will be filled at the ask price or higher and a market order to sell short will be filled at the bid price or lower.

If we wish to track volume and distinguish between up volume and down volume we would look to see whether fills take place at the bid or ask prices. So if 100 shares are purchased at the ask price that would be classified as up volume because the trader issued a market order to buy and was forced to cross the spread and get filled at the ask. The opposite would be true for a market order to sell short which would get filled at the bid price and is consequently considered down volume. (more…)

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A Substitute for GetStrategyName that works.

by Bill Brower on May 12, 2016 | Categories: Uncategorized |

A Substitute for GetStrategyName that works.

Beginning with TradeStation 2000i and carried along in versions of TS5.0 through TS8.6, there was a command that allowed the programmer to access the name of the strategy that was running in a chart window. That command was getstrategyname. This was particularly useful to traders that wished to perform strategy testing and save the test results say from an optimization with custom code to a file. For reasons that have never been revealed, TradeStation decided to abandon this command and disabled it. So it was that for several years there was no way to access the name of the strategy from within Easylanguage. (more…)

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On Balance Volume and Beyond

by Bill Brower on May 6, 2016 | Categories: Uncategorized |

On Balance Volume and Beyond

Tradestation has an unusual perception of volume. Unless you are new to trading you understand the concept of volume and how to measure it. If we are talking about stocks, volume is measured in shares. If it is futures, volume is measured in contracts. There is another measure that is available that is related to volume. It is the count of the number of trades. Unfortunately Tradestation chose to tag this statistic with the word “ticks”. There is another word very similar to this which measures the minimum distance a symbol can move on the exchange and it is called a “tick”. It is entirely different from the word “ticks”. If a trade takes place for one share or 100 shares Tradestation calls it a tick and the number of trades taken in the formation of a bar on the chart is the count of ticks. (more…)

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My First Post

by Bill Brower on January 13, 2016 | Categories: Uncategorized |

My First Post

After 23 years of providing TradeStation Easylanguage programming solutions to clients around the world, the time arrived for me to share my thoughts and ideas with other TS users. To that end I have this new website that allows me to post to a blog. Although I have a tutorial workbook for Easylanguage programming for sale, I will not cover that same material here. I will share Easylanguage tips and tricks and provide helpful commentary on the use of TS in ways that many have not considered. I believe that TS will only survive this competitive environment if we act as a community to support the product. I sincerely hope I can help through this blog. (more…)

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