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"OmniScripts" vs "OmniLanguage" - a starting point
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Jim Dean

Posts: 3152

Joined: 3/13/2006
Location: L'ville, GA

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Subject : "OmniScripts" vs "OmniLanguage" - a starting point
Posted : 12/8/2010 5:51 AM
Post #17606

If you're new to OT Pro, you've got some real fun ahead of you, as long as you take it a little bit at a time.

I recommend that you read the OT Pro Help manual carefully, and that you also look at the places in the OT Help manual that cover the use of Formula Builder.

Starting point nomenclature:

"OmniScript" is a term that describes a (usually simple) one line Formula - not a multiline "program". It's constructed in the Formula Builder GUI, and always resolves to a value of True or False. These OmniScript formulae are used for Filter Blocks, Color Charts, EZ Setups, OmniScans, and occasionally in Trade Plans. If you want to "play" with them to get visual feedback, I recommend that you start with Color Charts.

This Room in the OT Pro forum is intended for discussion about OmniScripts.

OTOH, OmniLanguage is used to create multi-line programs that are in the broad categories of Indicators, Systems and Stops. Systems create one of two outputs - they fire a short Signal or a long Signal to start a trade. They can optionally plot curves on the chart. You can apply them directly to a Chart to see potential entries and exits, but most commonly they are used via a System Block or Confirm Block in a Strategy.

Stops produce an Exit signal and an optional Exit Level, for use in Strategy Orders Blocks or Trade Plan Blocks. They can optionally plot things on the chart too. When a Trade plan is assigned to a Chevron that you manually drag to initiate a trade, the Stops in that TP will be called into action. But the primary use of Stops is in an Orders or TP Block in a Strategy. IMHO, the quality of Stops is even more important than Entries.

Indicators are the most versatile and often used of the three OmniLanguage entities. They can be plotted on a chart, or assigned to a Focus List column, or "called" as functions by other Indicators or Systems or Stops - or even by an OmniScript formula. When you start learning OmnILanguage, Indicators are step one, since you can see their output easily.

Discussions and questions about OmniLanguage should be posted in the OmniLanguage Discussions Room (not here). When you get to that point (after mastering OmniScripts), check out the threads in that room carefully. There are a LOT of instructional examples posted at the top of the thread, and many other useful threads as well.

And don't forget to check out the growing amount of highly-organized info at AOTC's Forum website, which is open for everyone to view.

I hope this helps. Have fun!

[Edited by Jim Dean on 12/8/2010 5:59 AM]

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