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Equilla Formula Language

Overview

Welcome to equilla, one of the most approachable and powerful analysis tools available to the financial community. Scripts written in the equilla programming language are used to create indicators and other analysis tools for use in financial applications like tradesignal. The syntax of equilla closely resembles that of the Pascal programming language with significant enhancements so that financial and other analytical ideas may be easily expressed. This help file provides a basic introduction to the equilla programming language. Although it contains a complete reference guide you should be familiar with at least one programming language since this documentation is not intended to be a course for learning how to program.

NoteĀ The ability to use trading strategies depends on the license you are currently subscribing to. There are tradesignal versions with and without trading strategy ability available.

Indicators

The first thing you need to know, is the way an equilla indicator is executed. A script is executed for every bar, meaning that an indicator on a two year daily chart is executed about 600 times. Since an equilla script is executed for every bar, this one-liner:

DrawLine( Close - Open );

is a complete indicator. Every execution of the DrawLine function just plots a single portion of the complete indicator.

Inputs

Here is an example that draws a moving average

DrawLine( AverageFC( Close, 38 ) );

but now we want to have the length of the moving average (38) to be a parameter that can be changed easily by the user. We use the input statement do to this.

Input: Period( 38 );
DrawLine( AverageFC( Close, Period ) );

In tradesignal this becomes a parameter that is displayed in the inspector.