Code Interpretation

Hello All

I have been able to get a system code for Tradestation in ELD format but cannot seem to understand it.

If anyone could assist in telling it in a simple statement, I would be very grateful.

{***************************}
{Program designed and coded by George Pruitt}

vars: daysInTrade(0), lookBack(30), midLevel(0), longLiqPt(0), shortLiqPt(0);

if(marketPosition=1) then
begin
midLevel = entryPrice(0) - (highest(high,30) - lowest(low,30))/2.0;
end;
if(marketPosition=-1) then
begin
midLevel = entryPrice(0) + (highest(high,30) - lowest(low,30))/2.0;
end;

if(marketPosition <> 0 and barsSinceEntry(0) > 0 and (Mod(barsSinceEntry(0),5)=0)) then
begin
lookBack = lookBack - 2;
lookBack = maxlist(lookBack,6);
end;

longLiqPt = maxlist(lowest(low,lookBack),midLevel);
shortLiqPt = minlist(highest(high,lookBack),midLevel);

if(barsSinceEntry(0) = 0 and marketPosition <> 0) then
begin
longLiqPt = midLevel;
shortLiqPt = midLevel;
end;

if(marketPosition = 1) then exitlong("long exit") at longLiqPt stop;
if(marketPosition = -1) then exitshort("short exit") at shortLiqPt stop;

buy("donchian buy") tomorrow at highest(high,30) stop;
sell("donchian sell") tomorrow at lowest(low,30) stop;

if(marketPosition = 0) then lookBack = 30;
{****************************}

Many thanks!!

 

Its a donchian channel breakout system.

 

It takes more than 15 lines to translate it into simple
english, which specific parts you don't understand?

 

if(marketPosition <> 0 and barsSinceEntry(0) > 0 and (Mod(barsSinceEntry(0),5)=0)) then
begin
lookBack = lookBack - 2;
lookBack = maxlist(lookBack,6);
end;

longLiqPt = maxlist(lowest(low,lookBack),midLevel);
shortLiqPt = minlist(highest(high,lookBack),midLevel);

Thanks Nana Trader!