How to Use MetaTrader 4 Expert Advisor Strategy Tester Lesson PDF
The MetaTrader 4 XAUUSD Strategy Tester in the MT4 software is the environment used to backtest the profitability of an MT4 Expert Advisor which is an Automated Bot & determine profitability of this EA automated strategy and then Optimize this Expert Advisor(EA) to a point where it's giving good profits from its automated trading activities.
Note: Before beginning MT4 XAUUSD Strategy Tester shown below, you must first attach a gold Expert-Advisor on a MT4 chart, by going to Navigator Window, choosing the EA & then right click in it and select the option "Attach to the Chart", once the EA is attached to the MT4 chart it'll appear such as displayed below, Then Right Click the Expert-Advisor, select properties settings and then choose the option by Checking/Ticking "Allow Live Trading" & then continue with the MT4 strategy tester shown below.
The MT4 strategies tester mode can be activated from the view menu and it is the second last item on the View Menu, A short-cut is to Press Ctrl+R button keys on your key-board.
The MetaTrader 4 Strategy Tester contains the following Expert-Advisor Parameter Setting for set up prior to testing-out an EA automated system and also for optimizing the profitability of the EA.
Expert-Advisor: Parameter for choosing which EA you as the trader want to test out among the ones that are installed on your MT4 software.
Symbol: The instrument for which you want to test out the EA on
Model: Whether to execute depending on the tick method, opening prices or control points
Use Date: Set the date to begin the testing & date to end the testing of the EA
Visual Mode: Select and Choose To view the illustration of where this EA opens & closes trade as testing goes on, there's also a slide bar to increase or decrease the speed for the visual mode.
Period: Chart Time Frame for which to use examples 1 Hour Chart
Optimization: Allow Optimization Settings for your EA EA Automated Bot
For illustration, to test out the above Expert Advisor in the chart for profitability, the settings can be setup as highlighted & shown above and the MetaTrader platform strategy tester is then run, by clicking the "Start Button".
Following trade results are generated and an automated trader can choose to optimize the EA further by changing the Expert Advisors settings.
Once optimization of Expert Advisor EA is complete the status bar will show progress, the above status bar highlights the progress that the EA testing is complete.
To view result click the options high-lighted above (Optimization Result, Optimization Graph, Journal)
Before running this MT4 Expert Advisor Strategies Tester for EA testing you must navigate to navigator window panel, doubleclick in this Expert Advisor(EA) to attach it to chart and set the parameters as displayed and shown below by ticking the options provided below:
After setting up the above parameters then you as a trader can test out your automated trading strategy within the MT4 simulator.
Once you Run your EA the Results will be illustrated on following window
MT4 EA Strategies Tester Optimization Simulation Results
MT4 EA Strategy Simulator Tester Optimization Graph
MT4 EA Strategy Tester Balance and Equity Graph
MT4 EA Strategy Tester Tutorial Lesson
The above is just a brief introduction to MT4 strategy-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 Expert-Advisor automated robot will be the Meta Trader 4 Expert Advisor Strategies Tester.
Note: You can only test out an Automated EA using data which has been downloaded & saved on your MT4 platform, thence for the date settings select the dates which you have been trading with your MT4 to get a graph representation of how your automated Expert Advisor would trade.
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