Any trader who started trading a decade ago knows inconvenience and problems associated with strategies testing. The best what was available back then is a strategy tester built-in to the terminal and the ability to write an advisor based on trader’s own experience. Traders, whose strategy objectively could not be represented as the robot, had to be gaining statistics either on history or on a demo account in real time, during several months.

However, everything is evolving, and applications for speculators are no exception, so Forex Tester software emerged, which is a fully autonomous system with extensive capabilities, even able to replace demo account for this matter.

Developers competently designed the interface of their software in the style of Metatrader platform, making most of the options intuitive. It is inadvisable to give a detailed description of the app settings, because the developer's website provides extensive information on the matter. Instead, we’ll take a look at the important things and nuances that are not mentioned in the instructions but should be considered when testing different strategies.

What strategies Forex Tester program “supports”

Forex Tester software has many built-in indicators, from moving averages and volume to the Ichimoku, so testing popular strategies will not be a problem. The figure below shows an example of how the working window looks like in the process of testing of such a system:

If the standard set doesn’t contain an indicator that is expected to be used in real life after testing, it must be rewritten from the familiar MQL language by means of Delphi and C++ and only then be placed in the appropriate directory of the application.

Another large group of strategies that could appear useless and even harmful to test on regular history are various waves, Fibonacci complex analysis and Gartley patterns. If you consider the fact that the application under review contains all the necessary tools to create such layouts, then it becomes essential for an objective testing. The following figure shows the appropriate icons on the control panel and their meanings:

  1. Freeform: its use is similar to ZigZag indicator, which in real time can be redrawn. Moreover, in the case of the line, it also overlaps with the human factor, so such layouts can only be drawn on the”"live” market, successfully modeled by the tester;
  2. Wave markup: very handy functionality, better than any of similar indicators;
  3. Fibonacci tools set: comment is needless;
  4. Pitchfork trading is an important element in ZUP strategy – those who use the cognominal indicator in trading will understand the benefits of price modeling as opposed to history, as in most versions it only displays the latest relevant model on the chart, with the only problem being the complexity in moving to another programming language.

Earlier articles on trading robots mentioned that the usual tester in the terminal doesn’t allow to fully appreciate the strategies involving hedging on different pairs, but the Forex Tester software solves this problem – all you need to do is simulate multiple charts and run the test mode. The image below shows an example of such an operation on the GBP/USD and EUR/USD pairs:

Thus, you can achieve high accuracy in assessing the strategies meant for trading with currency portfolio, both with averaging and without. The only disadvantage is that you can’t assign this responsibility to the robot and will have to manually make all deals.

Forex Tester program and its disadvantages

Continuing the topic of strategies, we should note that the first problem occurs with synthetic bars. The latest version allows building only Range bars – either directly as the main chart, or in a basement window using the indicator. But Renko charts, which are better suited for trend identification, were ignored.

In addition, the need to rewrite all indicators from MQL in order to be able to use them in the tester was mentioned above. In our opinion, this fact should also be attributed to the shortcomings, as not all traders have sufficient skills in programming.

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