EasyLanguage created more than 20 years ago by TradeStation Securities, is a programming language used for trading stocks, EFTs, and similar such products. The language is used to create custom indicators for financial charts and to create algorithmic trading strategies for various markets.
EasyLanguage has several advantages over other similar programming languages. Unlike other languages used in the financial market trading sectors, such as FORTRAN, this language is easy to learn having been designed for use by traders without a specialized computer and programming knowledge. Commands in the language are simple enough that someone not trained in computer programming would be able to figure out the purpose and function of a line of code with minimal training and perhaps only a reference book to use as a guide. The use of simple English instead of code means that companies using the language have to spend less time and resources on training their traders, which translates in the long run into greater profit.
Although the language was designed by TradeStation, other trading platforms quickly picked up on the language and began to support scripts written in it and to increase compatibility with scripts written by TradeStation. Other proprietary high-end automated trading platforms have even, to varying degrees, incorporated language elements similar to TradeStation’s.
While one can define one’s own, unique functions within the language, it is not expected that most people will do this. In this way, the language functions as a logical programming language as opposed to a functional programming language.
Because it is so simple to learn, the language enjoys a fair amount of popularity among traders. As a result, a quick search on the internet will show that a multitude of tutorials and script depositories are available to those interested in learning how to use the language. Also, there are many communities and forums dedicated to the language, so help is never far away if one gets stuck trying to get the language to perform a needed function. There are also several books available to help those developers who often go into great detail with the language.
Another advantage that the language has is its longevity and compatibility. Because it has been around for over 20 years, the language is trusted within the financial community and has shown that it isn’t going anywhere anytime soon. As a result, it has become widespread and many competitor languages, such as MultiCharts’ proprietary language PowerLanguage, have taken steps to make sure that it has some compatibility and the ability to interact with the venerable language.
Although the language is powerful, it has its flaws. Because the language was designed to be used by end-users that are not necessarily programmers, it can sometimes be difficult to get the language to perform tasks outside of its normal operating parameters. This can be overcome in some ways by various scripting techniques, but it is not a general programming language. In this way, the language’s strength is also its weakness.