Backtester MT4

Backtester MT4 is a tool designed to streamline the process of backtesting trading strategies. It is user-friendly, making it an ideal choice for both novice and seasoned forex traders. The tool’s features include straightforward buttons, customizable options, and the ability to export Profit/Loss (P/L) Points, Lots, Order P/L Result, and Balance to a CSV file.

Features of Backtester MT4

The Backtester MT4 tool offers a range of features that make it a valuable tool for forex trading. One of its main features is its simplicity: it has easy-to-use buttons that require minimal training to use effectively.

Another standout feature is its flexibility in terms of trading parameters. Users can choose between automatic or manual StopLoss and TakeProfit, and have the option to set the lot manually or by risk. This level of customization allows traders to tailor their trading strategy to their specific needs.

Functionality of Backtester MT4

The Backtester MT4 tool can be used on live charts and on the strategy tester. In either case, the backtest result is retained unless the user opts to restart from settings. The tool also has the additional feature of allowing users to change the chart time frame for live charts without losing the backtest result. Users can even close the terminal and resume their work later, a feature that offers a great deal of convenience and flexibility.

Using Backtester MT4

Using the Backtester MT4 tool is straightforward. Users need to attach the indicator to the chart and configure the settings according to their requirements. The chart can then be scrolled, and users can start paper trading by inputting points and clicking the buttons depending on their trade result, Stop Loss, or Take Profit.

The exported file, located in the “MQL4/Files” directory or “tester/files” directory if the Strategy tester is used, contains all the trade results. This feature allows traders to analyze their trading strategy effectively and make necessary adjustments to improve their trading performance.

Frequently Asked Questions

Can I use the Backtester MT4 tool on live charts?
Yes, the Backtester MT4 tool can be used on live charts as well as on the Strategy Tester.

Can I export my trading results?
Yes, the tool allows you to export your trading results to a CSV file.

Can I change my trading parameters?
Yes, the tool provides flexibility in terms of trading parameters. You can choose between automatic or manual StopLoss and TakeProfit, and set the lot manually or by risk.

We encourage you to share your experience of using the Backtester MT4 tool. Independent testing of this product is available for viewing on the forexroboteasy.com website, where you can also subscribe to updates on the results of testing this product.

It’s important to note that this is an independent product review and the text is written in the third person. We aim to provide a balanced and unbiased review of the Backtester MT4 tool to help traders make an informed decision about whether this tool is a good fit for their trading strategy.