About the trading strategy library
Each of the day trading strategy codes in our strategy database have been carefully programmed with two coding languages, EasyLanguage and NinjaScript. These two trading strategy programming languages allow traders to build and modify trading strategies easily with trading platforms like; TradeStation, NinjaTrader, MultiCharts, and OpenECry.
- Easy to use strategies for traders at all levels
- Useful strategies for scalping, day trading, & end of day trading
- All strategies are open source
How-to tutorialsNeed help importing a new trading strategy into your trading platform? We can help you, check out our video tutorials and in a few minutes you learn how to properly import day trading strategy codes and scripts.
Create your ownInterested in learning more about EasyLanguage or NinjaScript to create your own day trading strategy? Check out the Non-Coder's Guide to Creating Indicators & Strategies.
Trading indicatorsLooking for a day trading indicator? Take a look at out some of the most popular indicators for trading.
The set of rules and conditions for a strategy can be simple or complicated. Here's an example of a trading strategy with a simple set of rules and conditions, (long entry only):
"If price has closed above the upper Bollinger Band and...
MACD histogram is greater than zero.
If both these conditions are true then go long"
Here's an example of a trading strategy with a more complicated set of rules and conditions, (long entry only):
"If the current swing low is lower than the previous swing low and...
Price is greater than the mid pivot point and...
Volume is decreasing and...
20 period weighted moving average if greater than 80 period moving average.
If all 4 of these conditions are true then go long"
With a trading strategy all that a trader does is analyze charts to determine if the rules and conditions for their strategy are true or false. The examples above illustrate only a part of a complete trading strategy. More complete trading strategies have a set of rules and conditions for at least each of the following trade actions:
- Entering long
- Entering short
- Exiting a profitable trade
- Exiting a losing trade
Day trader's have two options for how to go about indentifying if the conditions for their strategy have been met, manually or automatically. The manual method is pretty straight forward, it involves you watching charts carefully do identify if any of the conditions for your trading strategy are true or false. With this method of manually scanning charts you spend more time continuously staring at charts than you do executing trades. The manual method is also more susceptible to human errors. The automated method allows your computer and trading platform to take on the tedious task of continuously scanning the charts to identify if your trading strategy conditions are true or false. The automated method is less susceptible to human errors and allows for more time to be spent on executing trades rather than staring at charts.
Note here that in both methods, manual and automated, the trader, not the computer executes trades. I do not think allowing computers to execute is prudent. Computers are great for repetitive tasks like pattern recognition, they are not good for tasks which require judgment and thinking, (not yet anyway). Because of this I suggest traders not use any automated trading systems or trading robots.
The automated method of determining if your strategy conditions are true or false have two substantial advantages over the manual method. First, you are able to efficiently back test your strategy to see how it would have performed in the past. Second, you are able to trade more than one strategy because your time is freed up to execute trades rather than scanning charts.
It is important to know how your strategy would have performed in the past because...
It is important to trade more than one strategy at once because...
Our collection of indicator codes for TradeStation, NinjaTrader, MultiCharts, and OpenECry give you exactly what you need to quickly learn what indicators are really telling you about a chart and how to gain an edge over other traders with your own custom indicators.