![]() In all fairness, I haven't seen a no-code tool that can create complex programs, so EFB is not alone in this regard. I wasn't particularly impressed with the original beta VSB tool, but you can give it a try and decide for yourself. ![]() But if you want more, you'll have to pay the monthly fee. They do have a free version that allows you to download 2 strategies/indicators per month. It was originally called Visual Strategy Builder, but they have since changed the name to Easy Forex Builder. But the Forex Tester team has been building their platform for creating indicators and EAs. Therefore, any “no-code” tool will have limitations. There are many circumstances where you really do need to know how to code, or hire a programmer to do it for you. It's actually really hard to create an indicator/EA builder and give it the ability to everything. I use this feature to watch the next higher timeframe, from the one I'm testing. It's a really handy to be able to track support/resistance levels on multiple timeframes, track correlation between markets and take trades on multiple pairs at the same time. Watch the video at the top to see it in action. This allows you to watch multiple timeframes and currency pairs at the same time. In Forex Tester, you can have multiple windows open at the same time. It's been available in previous versions, but I want to point it out here because it really helps. This is one of the biggest advantages of Forex Tester. So if you want to calculate a buy trade, use the sell tool, and vice versa. Just use the opposite tool and you'll be good. I'm sure that they will fix this at some point, but the solution is simple. Since the profit target in green, is bigger than the stop loss in red, the ratio should be greater than one. The Risk/Reward ratio is not calculating correctly.Īs you can see in the example above, this a buy trade. However, if you look closely, there's something wrong here. Then add the tool to the appropriate area of your chart. To access the tool, go to Charts > Graphic Elements > Risk/Reward Tool. Now Forex Tester has this tool available in version 5. Since then, TradingView has made this a standard tool on their platform. Visual Risk/Reward ToolĪwhile back, I made a video about how to turn the Fibonacci tool in MetaTrader 4 into a visual risk/reward tool. Having your notes in the backtesting file is the best solution. If you store your notes in another place, then it's easy to lose them. Record your impressions before and after the test.Note a chart pattern that you see that you might want to test later.Write down questions that you have during the test.Note trade dates that you want to go back and review later.Record ideas on how to change the system for the next test.Here are some ways to utilize the Notes section: The notes are stored in each backtest and allows you to jot down ideas in each test. Notes Sectionįorex Tester also added a notes section, which is really handy. But this can be useful for people who are into trading bots. I'm not into automated trading, so I haven't tested this feature. This is similar to the strategy optimizer in MetaTrader 4 and 5.įorex Tester 5 also goes one step further and they provide automated AI programs that are supposed to help you speed up the process of optimizing your automated trading strategies. You can then do an automated backtest in the software and look for optimizations. It allows you to upload FT automated strategies, or MetaTrader EAs. Strategy OptimizerĪnother new addition is the strategy optimizer. So the menu is a great improvement in version 5 and I really like using it. Forex Tester 4 had a very small and compact that made it really hard to use on a tablet. This type of menu is much easier to use and is a welcome addition. I like how the icons are arranged and the layout makes it easy to find things because they are categorized in a very logical way. It looks very similar to the “ribbon” menu in Microsoft Office. The biggest cosmetic change in Forex Tester 5 is the menu at the top of the screen. RELATED: Positive affirmation tracks to reprogram your subconscious
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