Tell me how to evaluate the effectiveness of a manual strategy? With a trading advisor, everything is relatively clear: the program runs in a fixed temporary area, after which the backtest is analyzed. But with manual strategies this will not work. You can use special diaries, where the results are combined into any groups. And you can use the Forex Simulator, which read on.
What is Forex Simulator
Forex Simulator is a tester for manual strategies that allows you to evaluate their effectiveness over a historical period in just a couple of hours. There are many similar testers (in future articles we will pay attention to other options), Forex Simulator is one of the best programs in terms of functionality. His strengths: synchronization with the indicators developed for MT4, the ability to adjust the time, multitimeframes. Previously, similar features were found only in paid versions. Forex Simulator is free.
Forex Simulator is installed as an application for MT4, that is, it opens in additional terminal windows. In its window you can set any configuration applicable to MT4. Tester features:
- Creating a session model in different modes in terms of speed. Allows you to immediately select areas with potential signals with the analysis of both successful and losing trades.
- There is support for time-combined strategies (three screens of Elder, for example).
- There are non-standard timeframes: M2, H2, etc. using Renko candles and similar tools.
- Forex Simulator is associated with reference providers of liquidity and quotes Dukascopy, TrueFx.
- You can synchronize your calendar with any trading segment. Noting in history, for example, a large drawdown, the trader immediately sees which fundamental factor was the cause of it.
- You can automate security orders.
Test results are uploaded in several classic formats that are easy to analyze. Forex Simulator almost completely repeats the functionality of MT4: here you can add templates, work with tools of graphical analysis. It is possible to use filters to display (hide) pending market orders. Statistics on transactions is displayed in a separate window and includes a detailed report on indicators of expected expectations, the size of drawdowns, indicating their minimum and maximum values, there are explanations of indicators in the comments. Based on the analysis, Forex Simulator builds a deposit curve by analogy with Bektest MT4.
Each tester is interesting in its own way and all their functionality cannot be contained in one review. Our task is to bring you, readers of the FxCash blog, information about the existence of such programs and their general functionality. Which version of the tester is better, no answer. Therefore, download it, install and test. For more detailed installation instructions and where to download the tester, you can contact us in the comments after the review.