Part 13 Meta Trader 4 Show – Strategy Tester (+Video)

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Part 13: Meta Trader 4 Show – Strategy Tester (+Video)

I’m sure this must have happened to you at some point. You’ve downloaded a Strategy for Binary Options into Meta Trader 4 and everything looked great. If you’ve gone back a couple of days or even weeks in the graph, the strategy really seems to be profitable!

So, you start trading on a demo account or even on a real account.

The strategy is actually awful and the first few trades are already in a loss. Why is it?

The strategy repaints. That’s the main reason. But how to defend yourself against it?

The strategy may seem profitable, but it is not!

I personally have come across this exact problem as well. The last time, a few days ago when I was developing my new strategy. Everything looked great until it came to actual testing with Strategy tester. The strategy should have a 90% success rate, see the image below.

The strategy should have a 90% success rate. Let’s try it!

As the picture shows clearly, there should be a high success rate. Even if we look further back in history, all you see are mainly the successful signals. But you must not let yourself be tempted, everything should be tested using Strategy Tester, a built-in feature in MT4, before you use it to trade real money. This feature will be projecting real graph movements, so you can see exactly how the strategy behaves before redrawing.

How to use it? At the top of the MT4 window just click on the button: View > Strategy Tester or press Ctrl+R. A window opens at the bottom of the screen.

An opened Strategy Tester window after pressingCtrl+R.

How to use the Strategy Tester

Strategy tester is used very easily. First, we need to set up 3 things:

  • A: Symbol. Currency pair or commodity on which we want to perform the test.
  • B: The timeframe when we want to perform the test (can not be changed later)
  • C: The date we want to choose for testing. We can test the strategy on, for example, real data from the previous month.
  • Start

After clicking on the Start button, a new chart (Visual) opens, where the testing takes place. Now, a real progress of past chart begins to project, so we can see how exactly did the strategy behave. Quickly select a template with your indicators and you start testing!

Using the program (video)

Author

More about the author Step

I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

Meta Trader 4 Show

Binary options or Forex trading is not a simple task. With Meta Trader 4 it can be much easier. This software is a must especially for more advanced binary options and forex traders. Most of forex brokers offer this software for trading – it can be a bit tricky though. Therefore, we are publishing this article series to show you how to download, install, use and get most out of it.

MT4 show is a guide taking you through this software from the initial stages until most complex issues. You will learn how to use control, draw lines in charts and add indicators.

If you want to know how to make profit by using MT4 for binary options or Forex trading read some of the articles of our series on technical analysis.

This functional and inevitable guide showing where and how to download Meta Trader 4 is available here:

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Release Notes: MetaTrader 4

MetaTrader 4 Forex Trading Platform

  • Added portrait mode for iPad. Now, you can browse through long lists of trading operations, as well as read your mail and financial news more conveniently.
  • Added native support for iPad Pro.
  • Added Korean language.

Virtual Hosting

    Added a link to the video tutorial “How to rent a virtual platform” into the Virtual Hosting Wizard dialog. Watch the two-minute video to learn how to easily launch a trading robot or copy signals 24/7.

This video as well as many others is available on the official MetaQuotes Software Corp. YouTube channel.

Terminal

  1. Fixed sorting of MQL4 programs in the sub-folders of the Navigator window. Applications are sorted by name.
  2. Fixed drawing of the network connection status indicator on ultra-high-definition screens (4K).
  3. Fixed display of the print preview window in the News section.
  4. A full-featured search function has been added to the log viewer of the terminal, Expert Advisors, Strategy Tester and Virtual Hosting. You can search forward and backward, search for whole words and toggle case sensitivity.

MetaEditor

Added a link to the tutorial video “How to assemble a trading robot” to the MQL4 Wizard. Watch the three-minute video and develop a trading robot without writing a single line of code.

This video as well as many others is available on the official MetaQuotes Software Corp. YouTube channel.

  1. Fixed the value returned by the SignaBaseTotal function. In some cases, the function could return a zero value instead of the total number of signals available in the terminal.
  2. Fixed editing of graphical object visibility on different timeframes from MQL4 programs. In some cases, the object could be invisible on a chart after changing this property.

Tester

  1. Fixed display of price values and SL\TP levels in testing results.

Fixed errors reported in crash logs.

Terminal

  1. The terminal interface has been completely adapted for ultra-high-resolution (4K) displays. All user interface elements are properly displayed on large screens. On smaller screens, the UI elements are automatically enlarged for better readability.
  1. Fixed a bug that could occasionally cause “Error writing EX4” during compilation in Windows 10.
  2. Fixed a bug that could occasionally cause errors while loading external DLLs in scripts and Expert Advisors.

Virtual Hosting

  1. Fixed migration of trading environment with a custom indicator containing an EX4 library call, if the indicator is called from an Expert Advisor.

Signals

  1. Fixed error notifications on the signal subscription page. For example, notifications about the absence of required symbols for copying, about different trading conditions, etc.

MetaEditor

  1. Fixed arrangement of open windows, if one of them is maximized. Open files can be tiled, cascaded, arranged vertically and horizontally using appropriate commands of the Window menu.

Fixed errors reported in crash logs.

Terminal

  1. Fixed initial and periodical scanning of trade servers in the trading account opening dialog. Now, availability and pings are defined in a timely manner with no need for manual scanning.
  • Optimized and accelerated the client terminal operation.
  • The terminal interface has been further adapted for high resolution screens (4K).
    1. Fixed downloading custom indicators from MQL4 applications ‘ resources. Indicators are included into resources via the #resource directive. This allows creating “all-in-one” applications that are much easier to distribute.
    2. Fixed the accuracy of the level value display in custom indicators. Previously, the accuracy always comprised 4 decimal places, while now it depends on the accuracy of an appropriate custom indicator values.
    3. Fixed checking the possibility of reducing an object of one type to another type as a result of inheritance when passing the object as a method\function parameter.
    4. Fixed recalculation of standard indicators on a specified buffer (iIndicatorOnArray) in case the data is set by an array having a fixed size. Previously, the indicator was not recalculated occasionally.
    5. Fixed errors in class templates.

    Tester

    1. Added ability to manage visualization mode when launching the tester from the configuration ini file. The new TestVisualEnable parameter (true/false) has been implemented for that. If the parameter is not specified, the current setting is used.
    2. Fixed an error in the CopyXXX functions that caused the real history data, instead of the test history one, to be returned.
    3. Fixed reading test parameters from the configuration ini file passed in the command line.
    4. Fixed excessive memory deallocation after closing a visual testing chart, which occasionally made history data unavailable for actually operating Expert Advisors.

    Fixed errors reported in crash logs.

    Code Base

    1. Fixed and accelerated downloading MQL4 programs from the Code Base. Download free source codes of trading robots and indicators directly in the platform.

    Terminal

    1. Fixed unloading price history from memory. An error occurred previously in case of insufficient memory.
    2. Fixed display of some user interface elements when working in Windows 10.
    3. Fixed removing graphical objects from the chart using the Backspace key.

    Signals

    1. Improved and fixed translations of the trading signals showcase.
    1. Added the SYMBOL_VISIBLE read-only property to the ENUM_SYMBOL_INFO_INTEGER enumeration .
    2. Fixed template operation.
    3. Fixed the ArrayCopy function behavior when copying a string array in case the data area of a data source and receiver overlap entirely or partially.

    Tester

    1. Added a limitation when testing demo versions of indicators and Expert Advisors from MQL5 Market. Now, testing of paid products’ demo versions is forcefully completed one week prior to the current terminal date.

    MetaEditor

    1. Fixed occasional conflicts between tooltips and other applications.

    Fixed errors reported in crash logs.

    Terminal

    1. Fixed changing a password for an inactive (unconnected) account.
  • Optimized use and release of memory when working with large amounts of historical data.
  • Fixed and optimized working with a large number of news categories.
  • Signals

    1. Fixed unsubscribing from signals via the Navigator window context menu.
    1. Added class templates allowing you to create parametrized classes like in C++. That enables even greater abstraction and ability to use the same code for working with objects of different classes in a uniform manner. An example of using:
      Execution result:

    Tester

    1. Fixed an error that occasionally caused nulling of the variables declared on the global level after testing an indicator.
    2. Fixed testing when connection to a trade server is lost.

    MetaEditor

    1. Fixed defining a function name in MetaAssist in the presence of type casting.
    2. Fixed opening large files.
    3. Added F hotkey to call the search function from the Code Base tab, as well as multiple tips in the status bar for the commands for working with a code: increasing/decreasing indentation, navigation, case shift, etc.

    Fixed errors reported in crash logs.

    • Improved convenience of analytical objects. They only appear on the current chart now. Display on other symbols can be enabled in object settings. To optimize chart area, enable object display only for the timeframes you need.
    • Turn on the display of higher timeframe borders on the current chart by enabling period separators.
    • iOS 9 compatibility improved.

    MetaTrader 4 Client Terminal build 880

      Web Trading: The first web version of the trading platform has been released. Trading and analytical features can now be be accessed from a web browser! The web platform is safe to use – any transmitted information is securely encrypted.

    Web trading is already available in the new Trading section of the MQL5.community site. Later on you will be able to trade straight from your broker’s website, because the web terminal can be easily integrated into a HTML page as a convenient widget using iframe.

    Add a trade account: specify the number and the server name, and then enter the password to connect to it.

    The interface of the web platform is similar to the desktop version and is therefore easy to understand. The following basic functions are currently available:

    • All types of trading operations: placing market and pending orders
    • Real-time quotes in the Market Watch
    • Customizable price charts
    • 9 chart timeframes
    • Basic analytical objects: horizontal, vertical and trend line, equidistant channel and Fibonacci lines

    The features of the web platform will be further expanded.

    Trading accounts can be managed from the new “Trading Accounts” section of the user profile.

    Hosting and Signals: Payments for Virtual Hosting and Signal subscriptions can now be transferred straight from payment systems.

    To pay for hosting services, users don’t need to log in to the MQL5.community account and add money to it. A payment for a service can now be transferred straight from the platform using one of the available payment systems.

    Select one of the available systems and make an online money transfer:

    Similarly, a payment for a trading signal subscription can be made straight from the terminal via a payment system.

    The required amount will be transferred to your MQL5.community account first, from which a payment for the service will be made. Thus you maintain a clear and unified history of rented virtual hosting platforms and signal subscriptions and can easily access and review all your payments for the MQL5.community services.

    Terminal: A new context menu command has been added for quick connection to a Web terminal. A web terminal with a required account can now be opened straight from the platform. A user does not need to enter the account number, password and trade server name on the web page in this case. This will be done automatically.

    Web trading is only available on demo accounts of the MetaQuotes-Demo server to date. As soon as your broker updates the MetaTrader 4 platform and enables the web trading option on the server, you will be able to trade with your broker’s account via the web terminal.

    Terminal: New OTP authentication feature. Use of OTP (One Time Password) provides an additional level of security for trading accounts. The user is required to enter a unique one-time password every time to connect to an account.

    One-time passwords are generated in the MetaTrader 4 mobile terminals for iPhone or Android smartphones.
    How to enable OTP
    To start using one-time passwords, a trading account must be linked to a password generator, which is the MetaTrader 4 mobile terminals for iPhone and Android smartphones.

    The OTP option is only available on the MetaQuotes-Demo server to date.

    The new feature will be available on your brokers’ trading servers after they update their MetaTrader 4 platform and enable the OTP option.

    In the window that opens, select “Bind to account”.

    Next, specify the name of the server on which the trading account was opened, the account number and the master password to it. The “Bind” option should be kept enabled. It must be disabled, if the specified account needs to be unbound from the OTP generator to stop using one-time password.

    Once the “Bind” button at the top of the window is tapped, a trading account is bound to the generator, and an appropriate message appears.

    Likewise, an unlimited number of accounts can be bound to the generator.

    The one-time password is displayed at the top of the OTP section. Underneath, a blue bar visualizes the password lifetime. Once the password expires, it is no longer valid, and a new password is generated.

    • Change Password – change the generator password.
    • Synchronize Time – synchronize the time of the mobile device with the reference server.

    The accuracy requirements are connected with the fact that the one-time password is linked to the current time interval, and this time should be the same on the client terminal and the server side.

    How to Use OTP in the Desktop Terminal

    After a trading account is bound to the OTP generator, a one-time password will be additionally requested during every connection to it from the desktop terminal:

    To obtain the password, open the MetaTrader 4 mobile terminal on your smartphone, go to the OTP section and enter the verification code to receive the one-time password.

    Terminal: We have created a series of video tutorials about Signals, Market and Virtual Hosting to help users quickly learn the features of the trading platform. The videos can be accessed straight from the trading platform:

    Terminal: The list of trading symbol parameters has been significantly expanded. A new command for opening specification details has been added in the context menu of Market Watch.

    The following parameters have been added:

    • Minimal volume – minimal volume of a deal for the symbol.
    • Maximal volume – maximal volume of a deal for the symbol.
    • Volume step – step of volume changes.
    • Freeze level – freeze distance for orders and positions that are close to the market. If the price of an order or a position is at a distance equal to or less than the freeze level, modification, removal and closure of the order or position is prohibited.
    • Margin percentage defines the charged percent of the basic margin value, which is calculated in accordance with the instrument type.
    • Margin currency – the currency used for margin calculation.
    • Trade – type of symbol trading permission: Full access – close and open positions; Close only; No – trading is disabled.
    • Execution – the execution type of the instrument: Instant, Request or Market.
    • 3-days swap – day of the week when a triple swap is charged.
    • First trade – the financial instrument trading started on this date.
    • Last trade – the financial instrument trading ends on this date.

  • Terminal: The process of selecting programs to run in the Strategy Tester has become much easier. The list is displayed now as a tree in accordance with the directories in which Expert Advisors and indicators are stored.

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