Forex Simulator – advanced manual strategy tester

In order to correctly use the trading system for manual trading, the trader needs to train a lot: open and close deals, read signals.

In addition to direct or indirect losses, the most valuable resource is lost in the learning process - time, which depends on the timeframe of the trading system. Fortunately, there are trading simulators on historical data that allow you to gain experience in trading, say, a year, in just a couple of hours. In the mode of such training, you can see the pros and cons of the strategy, make adjustments, “get a hand” in the search for signals, find the right money management system.

Today we have an excellent tester in our review - Forex Simulator. Among its bright advantages are: compatibility with custom MT4 indicators, the ability to rewind time during a test, and multi-timeframes. Previously, such features were only in paid versions.

Forex Simulator - chips and program benefits

Forex Simulator is an application installed on the Metatrader platform, which works in additional windows using the archive of quotes and all available technical analysis tools. That is, the trader can apply any configuration of the workspace that is completely identical to the real trading.

• The session is simulated in various speed modes, which allows you to “scroll” inactive shopping areas, highlighting only the moments of signals formation. The trader will be able to practice in real-time mode on pre-selected historical segments, moreover, if the input is unsuccessful (error), the simulation can be unwound back, passing again and again to hone skills to automatism;

• The simulator supports the ability to test time-combined strategies, for example, using the Elder three-screen method. A trader can run in real-time three windows (and more) with different candle timeframes, which will change simultaneously, with a given speed scale;

• The user can specify non-standard time ranges: M2, H2, etc., or use Renko candles, which significantly expands the strategic capabilities of Metatrader;

• Forex Simulator is connected with servers of large liquidity providers for Forex brokers - Dukascopy and TrueFX companies. This allows the user of the application to download historical quotes for currency pairs that can be considered a benchmark. The obtained data can be used both for training and testing, and for comparing them with the course values ​​on the servicing broker’s charts. Loading accuracy is up to a single transaction tick;

• The completeness of immersion into reality will add the presence of a synchronized calendar with any segment of historical trades. The trader will no longer have to remember why a huge candle appeared in February 2008 or to remember “how it was” on the day of the announcement of the removal of the Swiss franc to the euro bounding, etc.

• A trader can use the simulator in tester mode, using fast forwarding for a quick trade run, and the reverse for manual optimization of the strategy. The functionality of the application allows you to save the current simulation to a file, along with the open positions and the results obtained on the trading history.

• Despite the emphasis on using the simulator for “manual trading”, Forex-Simulator supports the mode of order automation, stop loss, take profit, as well as tracking of predefined risk management parameters.

• At any time, the trader can access detailed statistics of the trading results in the form of a detailed analysis of profits and losses, which can be rendered as EXCEL tables or HTML reports.

• Charts and windows of Forex-Simulator can work offline, so a trader can test or practice in any convenient place and time, without the necessary conditions of the markets or Internet connection.

Installing Forex Simulator

Pay special attention - Forex-Simulator works only on the Metatrader 4 platform in the Windows operating system!

The application requires a pre-installed Microsoft .NET Framework 4.5 and 4 GB of RAM, as well as free disk space for downloading historical data.

The program is installed as an Advisor in the MQL4 folder, the Experts subdirectory, through the File menu the option “Open data folder”.

After copying the ForexSimulator.Ex4 file to the Experts folder, restart Metatrader 4 and allow importing of DLL files in the Settings via the Tools menu on the Expert Advisors tab.

If the file is copied correctly, the user will see Forex-Simulator in the Navigator window of the Metatrader 4 trading terminal:

The application is launched on the selected currency pair for the trading simulation by grabbing and dragging the Advisor from the Navigator window to the field of the previously open chart.

Please note - the launch of Forex-Simulator will result in the removal of all indicators and graphical objects on the chart of the tool, so use a new, specially opened window without templates.

Indicators and templates can be added only in the process of trading simulation.

Forex Simulator Settings

In the window that appears after dragging and dropping the Advisor, select the “Input Parameters” tab, enter a random (any) email address, any activation code and click OK.

In the settings window, the user can set the mode of transactions at the “best price” - “Always_On_Top”, by default it is set to “false”, so that trade orders can be opened according to market conditions.

The “Buy_Sell_Buttons_Order” parameter determines the order of the “Buy_Sell” buttons in a trading order. By default, the “BUY FIRST” parameter sets the location of the “Buy” button on the left and the “Sell” button on the right.

If the above steps for installing the simulator were correct, a message window will appear, indicating the connection to the trading account.

This view of the main window will subsequently appear each time you start Forex Simulator, prompting the user:

• Start a new simulation - New simulation;

• Load existing files to continue training - Load simulation;

• Download data from the archive of the Dukascopy broker.

The initial launch will require the mandatory download of historical quotes.

Loading historical quotes data using Data Center

Click the Data Center option to use the download window for historical quotes from Metatrader servers:

The table that appears indicates currency pairs with an available data archive, which will begin downloading after clicking the “Download” option in the folder selected by the user through the Change function. In the lower part there is a link to the calendar download with indications of economic indicators synchronized with the dates of the available quotes history.

The user independently selects the time interval of the injected data (in years), can interrupt and update the download.

Downloading historical quotes data using the archive in Metatrader 4

Before starting the simulation on historical quotes of Metatrader 4, download the current and complete database using the archive of the broker’s server. To bring up the corresponding settings window that controls the download, press F2 or find the “History center” option in the “Tools” menu.

Select the currency pair for which you are going to conduct a simulation and download the per-minute trading history. Forex-Simulator is able to independently collect candles of any timeframe.

After downloading the archive, restart the terminal, open the chart of the currency pair you are going to test, select the desired timeframe and scroll the quotes history all the way to the left. The task of the trader is to start the simulator from the first candle of the downloaded archive of quotes, so do not forget to cancel the scroll, otherwise, the chart will return to the current day with a new price tick.

Launch the Expert Advisor and select “New Simulation” in the window that opens - then start setting the basic conditions for the test/training:

• Provider - select the data provider, in our case it is Metatrader;
• Instrument- automatically determined by the selected schedule;
• Timeframe - corresponds to the one selected on the chart.

In the notes, the Advisor will indicate the duration of the received historical segment.

In the next block, the trader chooses:

• Calendar start of the simulation, taking into account the above period of loaded and processed history. Optionally, you can trim the run section, which by default will run until the current date;
• Deposit currency;
• Size of balance.

By default, the simulator allows you to go back - “rewinding history” (Rewinging alowed).

The third, last block specifies:

• The pip size associated with the width of quotes - four or five-digit (set automatically);
• Lot size, it is usually standard - 100,000 units of the base currency;
• Used leverage;
• Spread (by default, the actual value is automatically set from the “Market Watch” table);
• The size of the rewind “back” for the return and re-run of any section - indicated in days.

After the parameters are set, click “Start Simulation” to start.

Forex Simulator Advisor Trading Simulation Mode

Open a new chart of the currency pair on which you are going to conduct a trading simulation, set the required timeframe. Drag Forex-Simulator Advisor from the Navigator window, in the settings window that opens click “OK” without typing the password and activation code, if these steps were taken earlier and the connection to the account is established.

In the window that appears, select “New Simulation” or upload the “Load Simulation” file to continue the training and fill in the table of initial parameters discussed above.

Click “Start simulation” to start the trading simulation, and then decide on the accuracy of modeling candles by choosing from two options:

• Full model based on the information received on all ticks;
• Candles built at opening, closing, high and low prices.

After generating the history and pressing the start, a trading order window will appear with the functions to control the simulation of the trading process:

The simulation starts in pause mode so that the trader can set up basic training conditions:

• Visual Mode - set the lot size and set (if necessary) stop loss and take profit - the distance is determined in pips (1);
• Templates - use templates of previously saved risk management settings or create new ones;

• Trades - analog of the Metatrader terminal, showing open, closed and pending orders;

• News - the function of calling the calendar of economic events, historically synchronized with the current segment of the simulation;
• Charts - set the timeframe of the chart.

On the left (2) there is a control unit for the types of trading orders:

• Market - sell, buy at the current market price with the possibility of canceling or closing all current transactions;
• Pending - placing deferred orders of the limit type and stop at a distance of “Distance” specified by the user in pips (from the current price), with the possibility of deleting the last order or canceling all existing orders;

• Presets - automatic setting: comments to the order, trailing stop and cancellation of the pending order;

• Account - current trading results: profit, loss, balance on the account;

• Save - a block of functions for recording current simulation results, export of a trade report and a window for monitoring the set parameters of a training (pip size, leverage, spread, etc.).

Running and managing the speed and types of Forex Simulator simulations

Click the “Chart” option in the settings window that opens (1), set the number of timeframes (2) (candles, bars) required for training, generate the values ​​of the time series using the “Add” button (3). After the line (4) appears, click “Open”.

Close the chart window and press the play key (1) to remove the simulation from a pause, pressing it again will stop modeling candles for a pause.

The option next to the playback (2) helps set the pause conditions:

• On the triggering stop-loss;
• When setting a pending order;
• Upon reaching the set price level.

The block of regulation of the candles formation rate allows you to accelerate the simulation of the movement of the slider to the right or reproduce the session on the scale of real trading.

If the trader missed an event or wants to repeat the same session several times, this can be done using the rewind unit (4).

In the chart window of the Forex-Simulator application, the user can use the familiar Metatrader functions - add indicators, templates, draw and carry out graphical analysis using the toolbars or the additional menu via the right mouse button:

The Forex-Simulator Expert Advisor supports simultaneous, synchronized operation of currency pair charts with different time formats and timeframe types:

Display and analysis of transactions in the Forex Simulator

Current deals and pending orders are displayed in a window opened via the Trades function. In the upper field of the window, the total number of market and pending orders is indicated. You can monitor and adjust positions using the Market & Pending tab, a one-touch close is available to the trader.

• Closing a specific order (2);
• Delete / close all orders - current and pending (3);
• Fixing of transactions with current profit / loss.

A trader can use filters to display/hide market/pending orders, show profits in points or account currency.

Columns of the table allow you to automate trading, set a trailing stop, as well as modify open and pending orders.

The history of closed trades is located on the History tab, execution and closure of trades are fixed in time, the type of order (pending/market) and the result (profit/loss) are indicated.

The statistics tab contains a detailed report on indicators of expectation, maximum and absolute drawdown, and records the spread for accounts with a floating spread. The parameter values ​​are explained in the comment lines accompanying each number.

The program automatically builds a graphical display of Equity and a Deposit on a graph:

You can save the simulation and statistics in the Save block, the functionality of which was described above.

Conclusion

In addition to the obvious advantages over the demo trading (going back in time, increasing the scrolling speed, trading in extreme areas), Forex Simulator enables multi-stream optimization, which gives an answer about the scalability of the strategy on different timeframes in one run.

Also, a trader can understand how convenient Renko bars are or how non-standard timeframes affect selected strategies.

P.S. A big request is to read CAREFULLY the order and nuances of the installation, as this is important.

Download Forex Simulator

Regards, Michael

ForexTraderPortal.com