Stocks & Commodities V. 30:5 (50-52): Product Review: eSignal 11 by Jayanthi Gopalakrishnan

Stocks & Commodities V. 30:5 (50-52): Product Review: eSignal 11 by Jayanthi Gopalakrishnan
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Product Review: eSignal 11 by Jayanthi Gopalakrishnan

IN a recent guest appearance on CNBC, author and analyst Nassim Taleb mentioned that a robust system is one that sustains shocks and improves after each one. Of course, he was referring to the banking and financial system of nations, but we could easily apply this concept to creating our own trading systems.

ESIGNAL FORMULA SCRIPT

The challenge, of course, lies in creating such a system, but just because it is challenging does not mean it is not possible. Almost all technical analysis software gives you the option of creating your own customized trading systems. eSignal offers their customers their eSignal Formula Script (EFS), which is a simple formula language that uses JavaScript. In this, the second part of this review series, I will cover the EFS feature of eSignal along with the trade integration feature.

Not much has changed with regarding how you write the code for a trading system. You open the Script Editor, enter your code, and save it. After that, it is just a matter of inserting that study onto your charts. In Figure 1, you see John Ehlersís SwamiCharts stochastic inserted into the chart.

There are a few new features that have been added to the EFS feature set. For example, in previous versions if you wanted to change things like the colors on a chart or the appearance of a line, you would have to go into the EFS code and make changes to it. In this new version, all you do is double-click on the indicator in the chart and change the options on the Edit Chart window (Figure 2).




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