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It depends upon what you are trying to do. TS is good for futures trading - but extremely laborious if you are seeking to test over a large portfolio of stocks.
Over the years I have written a large amount of code for myself and others and find it tedious to write - there's no elegance in it.
Once you have got the concepts behind Wealth-lab and it's coding it is pretty straightforward especially as you can build systems/indicators using drag & drop..
As to your friend - I can understand why he would say what he says. but there again one can get an order of magnitude improvement in optimisation work by writing a dll for tradestation - which is just as complex (or not) as writing Wealth-Lab script. This leaves one with a choice of use TS for optimisation work and let the system run for several days, use Welth-lab or write a dll.
I surmise that the next generation of trading tools are likely to expect the user to write his indicators/systems in C#
Herewith an example of code for a CCI indicator (for a public domain system to released in the next few months) - if you neglect the "system wrapper" what could be simpler? This public domain system should make TS an irrelevance.
using System;
using System.Reflection;
using System.Windows.Forms;
using System.Diagnostics;
using Tradevec.Base.Data;
using System.ComponentModel;
using System.Drawing;
using Tradevec.Base;
using System.Drawing;
[assembly: AssemblyKeyName("")]
[Description("This Indicator plots Commodity Channel Index")]
public class CCI : Indicator
{
#region Output parameters. Don't include in this region any code except output parameters
[Output("CCI", Style_Line, Region_NewOne, KnownColor.Red)] public double Plot1;
[Output("CCI Long", Style_Line, Region_NewOne, KnownColor.Blue, PriceBox=false)] public double Plot2;
[Output("CCI Short", Style_Line, Region_NewOne, KnownColor.Red, PriceBox=false)] public double Plot3;
#endregion Output parameters
public void Main
(
[Description("Bar Series")] BarSeries Bars,
[Description("Length"), DefaultValue(20)] Int32 Length,
[Description("CCI Long"), DefaultValue(100)] Int32 CCILong,
[Description("CCI Short"), DefaultValue(-100)] Int32 CCIShort,
[Description("CCI is in overbought territory"), DefaultValue(false)] Boolean CCIOverboughtAlert,
[Description("CCI is in oversold territory"), DefaultValue(false)] Boolean CCIOversoldAlert,
[Description("CCI has crossed over zero"), DefaultValue(false)] Boolean CCICrossedOverZeroAlert,
[Description("CCI has crossed under zero"), DefaultValue(false)] Boolean CCICrossedUnderZeroAlert
)
{
if (Bars.Count <= Length)
{
Plot1 = Plot2 = Plot3 = 0;
CCISerie.Add(Plot1);
}
else
{
Plot1 = Functions.CCI(Bars, Length);
CCISerie.Add(Plot1);
Plot2 = CCILong;
Plot3 = CCIShort;
}
if (CCIOverboughtAlert && Plot1 > Plot2)
Alert("CCI is in overbought territory");
else
if (CCIOversoldAlert && Plot1 < Plot3)
Alert("CCI is in oversold territory");
if (CCICrossedOverZeroAlert && (Plot1 > 0 && CCISerie[1] <= 0))
Alert("CCI has crossed over zero");
else if (CCICrossedUnderZeroAlert && (Plot1 < 0 && CCISerie[1] >= 0))
Alert("CCI has crossed under zero");
}
private SimpleNumericSeries CCISeries = new SimpleNumericSeries();
}
----- Original Message -----
From: Manset01
To: equismetastock@xxxxxxxxxxxxxxx
Sent: Monday, February 20, 2006 11:16 AM
Subject: Re: [EquisMetaStock Group] What do you think about Wealth-Lab ?
Hi,
A friend of mine who is a professionnal programmer (for trading, he
both uses TS and MS) has tried Wealth-Lab.
He told me that /for traders/, their language was crappy, unnecessarily
complex and extremely cumbersome.
I would like to have some other opinions.
Regards
David Jennings a écrit :
> You shouldn't believe everything you here. If you have a trawl thru
> the shared scripts you will be able to see the sort of thing that it
> is possible to create which one would need to write dll's for in
> Metastock or TS. There again complexity isn't everything.
>
>
> ----- Original Message -----
> From: Manset01
> To: equismetastock@xxxxxxxxxxxxxxx
> Sent: Monday, February 20, 2006 9:38 AM
> Subject: [EquisMetaStock Group] What do you think about Wealth-Lab ?
>
>
>
> Hi,
>
> It seems to be a powerful software but I was told their langage
> (WealthScript) was unyielding,
> awkward and very difficult to learn...
>
>
> Regards
>
>
>
>
>
>
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