Why Use Multiple Data Streams?

In Easylanguage we can use more than one data stream to generate signals. In fact, you can reference several markets, timeframes and instruments in one strategy, which opens the door for strategies that profit from intermarket relationships or that just draw support from a higher timeframe.

One of the most common applications is to use a daily chart as the second data stream together with a minute chart. That way you get access to a higher timeframe which will often reveal patterns that aren’t distinguishable on the lower timeframe.

Another common application for multiple data streams is to trade one market depending on what happens in another market. These types of trading strategies are also referred to as “inter-market trading strategies”.

In the coming lesson, you’ll learn how to use multiple data streams in Easylanguage.