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To test how an Expert Advisor (Trading robot) can perform in trading, the built-in Strategy Tester is available in MetaTrader 5 Trading Platform. The entire operation of the Strategy Tester is based on historical data of the financial instrument. The main advantage of testing is the possibility to evaluate a robot performance prior to trading on a real forex account. Display of Expert Advisors' test results is one of the most notable features of the Strategy Tester.
Results of testing strategies are also presented in charts making strategy analysis even more convenient.
Extensive information on results of testing strategies for Forex and other markets provides vast opportunities for trading robots' developers.
Another important utility of the Strategy Tester is the function of optimization, which allows choosing the best input parameters for a specific Expert Advisor.
During the optimization process one Expert Advisor is tested multiple times with different sets of parameters.
Obtained statistical test data on each symbol will be displayed as a table in "Optimization Results" tab.

The Strategy Tester provides powerful tools for visual analysis of optimization results that can be displayed in a chart, as well as in 2D and 3D. The built-in forward testing helps avoid the insidious problem, which is usually called "over-optimization" or Expert Advisor parameter fitting.
This powerful tool allows testing the efficiency of an Expert Advisor and detects the best input parameters before it is used for real trading on the Forex or Stock Markets.
During testing, the Expert Advisor goes through the accumulated quotes and analyzes them one by one. Expert Advisors have access to all the financial instruments in the tester and can perform trading transactions with any of them. In addition, it takes only a few minutes in the tester rather than days, weeks or months needed to test an trading robot in the real market. Testing process can be slowed down or stopped to see how trading is performed at any particular time interval.
After optimization, comparison of the results of all tests is possible, which allows selecting the parameters that provide the best performance of a trading robot. Any strategy can be automatically tested on all symbols available in Market Watch at one pass by clicking "Start" button.

The Strategy Tester can connect the network benefiting from its almost unlimited computing power. This feature allows you to test even more sophisticated Expert Advisors that are capable of analyzing multiple currencies and identify the correlation between them.
Select "Open prices only" if you need very quick and rough estimation or your forex trading strategy is based only on bars' open prices. The Strategy Tester offers many useful tools for that case providing 6 built-in optimization criteria considering balance, drawdown, profitability, etc. Traders can implement any parameter into their Expert Advisor to test it in the Strategy Tester.

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05.12.2014 | Author: admin

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