eSignal

Central

eSignal Advanced Charting -- Using Formulas or EFS Studies

With advanced charting, eSignal offers a powerful formula engine that opens up a world of formula studies for you. It is written in a simple JavaScript language, eSignal Formula Script (enhanced as EFS2), so you can develop your own custom studies and access a series of customizable sample formulas.

EFS2 means ease of development with only a few lines of code required, ability to use built-in studies and support for building a study of another study, such as a Moving Average of an RSI. It allows you to create studies based on different intervals and symbols. For example, you can view the 30-minute MACD of the Dow in a study panel while simultaneously looking at a 5-minute MSFT chart.

The eSignal application has a library of sample formula studies saved in plain text as .efs files (eSignal formula script) stored in the formula folder under the eSignal directory (see following picture). You can use them as is or view and modify them in the text editor to suit your trading strategies.

The application also includes a group of add-on studies. The add-on studies are subscription-based studies developed by 3rd party developers. You can also find some free formulas in the eSignal File share group under the “EFS Database” group or under the eSignal Central’s EFS Help.

 

Adding, Changing or Editing Formulas

The recommended way to add, change or edit formulas is by using the Formula Editor. The Formula Editor has many features that can help you successfully write EFS formulas. You can open the Formula Editor from the Tools menu under EFS.

Formula Wizard

The Formula Wizard is a tool developed primarily for the creation of new studies and alerts based on the studies. The Formula Wizard can also be used to edit existing studies and / or alerts that were originally created with the Wizard.

A basic understanding of the structure of an EFS formula is helpful in making full use of the Formula Wizard.

EFS Developers

eSignal also has partnerships with a number of developers who are expert in EFS, as well as other scripting languages. They can work with you to convert existing code into a strategy or to create a strategy from scratch. You can access the list of EFS Developers by visiting the eSignal Central website, clicking on Support and then the EFS Help Center link.

Users may also post (and access) EFS suggestions and comments on the EFS Studies Forum by visiting the eSignal Central site and clicking the Forums tab. Users can download EFS studies that have been previously uploaded to eSignal Central File Share or from a developer website.

The steps to download and install formulas or EFS studies in eSignal are very simple.
For example, if you are in File Share or have received an EFS file by email, you should be able to click on that file and save the EFS study into the Formulas folder or in any of its subfolders.

Downloading and Installing EFS Studies
If you are in eSignal Central File Share, click on one of the formulas, and you will get a file download window (see following picture).

 

Click Save in the file download window, and the Save As window will open. The EFS study must be saved in the eSignal Formulas folder or any of the subfolders inside the Formulas folder for you to be able to access the study in the program.

The path is C: / Program Files / eSignal / Formulas / (any subfolder). 

A subfolder called “New Formulas” was created in the example below to store the EFS study being downloaded.

Once the formula is downloaded in any of the subfolders under Formulas, it will be accessible to use in an advanced chart. To apply the formula to any advanced chart, right click the mouse inside the chart, go to Formulas, highlight the New Formulas folder, and you will find the formula.

Once you click on the formula, the formula will be displayed in the chart.