MT4 Strategy Tester Window - How to Use MetaTrader 4 Simulator Tutorial PDF
The MT4 Strategy Tester in the MT4 platform is the environment used to backtest the profitability of an MT4 EA which is an Automated Platform & ascertain the profitability of this EA automated strategy & then Optimize this EA to a point where it is giving good profits from its forex automated trade activities.
NB: Before starting the MT4 Strategy Tester shown below, you must first attach a forex EA on a MT4 chart, by going to Navigator Window, selecting the forex EA and then right-click on it and specify the option 'Attach to Chart', once the EA is attached to the MetaTrader 4 chart it'll appear and be shown as pictured below, Then Right-Click the Expert Advisor, choose properties & then choose option by Checking/Ticking 'Allow Live Trade' & then continue with the MetaTrader 4 strategy tester shown below.
The MetaTrader 4 strategy tester option can be activated from the view menu and it's the second last menu item on View Menu, A short Cut is to Press Ctrl+R buttons on your key board.
The MetaTrader 4 strategy Tester has the following Parameters for setting up before testing an Expert advisor automated system and also for optimizing profitability of this forex EA.
EA: Parameter for choosing which forex EA you want to test among the ones installed on your MT4 software.
Symbol: The currency pair for which you as the trader want to test the forex Expert Advisor(EA) on
Model: Whether to execute based on the tick method, open prices or control points
Use Date: Set the date to start the testing & the date to end and complete testing of the forex EA
Visual Mode: Select To view the illustration of where this forex EA opens & closes forex trade as the testing out goes on, there's also a slide bar provided to increase or decrease the speed for the visual mode.
Period: Chart Time Frame for which to use illustrations 1 Hour Chart
Optimization: Allow Optimization Setting for your EA Automated Robot
For example, to test out the above forex EA on the EURUSD currency for profitability, the settings can be set up like is shown above & the MetaTrader platform strategy tester is then run, by pressing the "Begin Button".
Following trade results are generated and an automated trader can choose to optimize the forex EA further by changing the Expert Advisors(EAs) forex settings.
Once optimization of forex EA is accomplished the status bar will show progress, the above status bar displays the progress that the forex EA testing is complete.
To view result press options highlighted above (Optimization Results, Optimization Graph, Journal)
Before running this MT4 Simulator for EA testing you must go to navigator panel, double click in this forex Expert Advisor(EA) to attach it to chart and set the parameters such as displayed and shown below by checking options provided below:
After setting the above parameters then you as a trader can test out your automated trading strategy within MT4 strategy tester.
Once you Run your EA the Results will be illustrated on following panel
MT4 Strategy Tester Optimization Results
MT4 Strategies Simulator Tester Optimization Graph
MT4 Strategy Simulator Balance and Equity Graph
MT4 Strategy Tester Profit and Loss Graph - MT4 Strategy Tester
The above is just a brief intro to the MT4 strategies tester - automated trading with EA Robots is a wide topic that a trader will take some time & research to learn about but the main environment to test and optimize the forex EA automated bot will be the MT4 Strategy Tester.
Note: You can only test out an Automated EA using data which has been downloaded and saved on your MT4 platform software, henceforth for the date settings choose the dates that you have been trading with your MT4 to get a graph representation of how your automated Expert Advisor would trade.
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