Intrabar Statistics. It is a helpful tab that allows you to assess the exchange rates data quality. If for some reason a period of time was not included into testing, this information will be displayed in the Data Download Error window. When you have configured everything, imported FX rates data, created a profile and an account, you can go on to create a trading strategy.
Click on the New Strategy tab and start building your forex trading system. Pay attention to the Builder mode that is now active the menu is on the left of the red box in the figure below , and the Editor tab is opened it is highlighted with blue as an active tab. First, you enter input parameters in the tabs that are highlighted with the red box in the screenshot. You select the profile, data source, asset, timeframe and the interpolation method.
For example, if you have an open position and in the range of the same bar, you have set a take profit and stop-loss orders, and they are both available in this bar. If you are using the pessimistic method, the strategy will directly execute the stop-loss order, optimistic — take profit. Shortest Executes the orders in such a way, so it creates the shortest possible route between the way points of the bar - Open, High, Low, Close and all orders in the range.
The Nearest method will execute the order that is closer to the current price. When there is not enough data to know which order the backtester should execute first, the Random method will execute the orders in a random fashion. Strategy tab opens in the main area of the program. It holds a strategy and provides all tools for editing, exploring, testing and trading a strategy.
Double click on the Strategy Properties with your scroll button. Let us return to the main area of the strategy. Below the strategy properties, there are rules for entering and exiting the trade they are under the red box in the last figure. If you click on the Add an Opening Logic Condition, you will see the list of indicators, both the default FSB tools and the indicators, added by the user. Here you can specify the settings of the strategy indicator, everything is just like in MT4 shift, multipliers, periods of moving averages etc.
A forex trading system is build based on Logical Groups that contain numerous conditions for entering trades. You can assign a name to each group and add as many tools to it as you wish. This way, you can build an Expert Advisor that will enter trades according to a few strategies of different types. However, it is a rhetorical question: how efficient this approach is?
And you can make the forex trading system from strategies that work afterwards if you wish. The strategy efficiency is displayed in the chart by one or several lines. If there are a few lines in the chart, then they are equities, the profitability of long and short positions 2 lines , a total change in the deposit. In the last figure, the balance chart shows that the system must be applied in any case.
In addition to sharp, deep drawdowns, the balance goes to zero in the end. Editor tools are helpful when you clearly see what you should have in the end and what trading system you want to build. If so, you can use Strategy Generator a tab in the Control Panel. The user interface of the Generator is very similar to the interface of the Editor, but there are some differences. First, the upper menu toolbar is completely different.
And there is another important thing, you should pay attention to. In the upper right corner of each block, there is an icon. More precisely, there are three options for displaying it: it is completely missing, a lock is displayed, or something similar to a rectangle.
If you have any idea about this, please, do write in the comments. When you have put all the ticks in the blocks, click on the Start button at the bottom of the window. It may take form a few minutes to a few hours to generate a strategy depends on the accuracy, working time, indicators and so on. We are interested in the Local Repository left vertical menu , where the strategies are stored both generated and downloaded. There are filters that help to arrange strategies in a convenient order.
We find the generated strategy while there is a single one, there are no problems with the search and we look at its statistics. To do this, in the lower right corner look at the item Strategy Slots, and then Account Statistics. In the Strategy window, the program offers different variations of the systems according to the parameters specified; there can be dozens of them especially since all types of indicators are switched on.
Based on the account statistics that is the strategy testing , you can make a decision whether to launch the strategy on the real account or to optimize it. If the forward testing the last section is not successful, that is, the curve is either flat or downward at the last section, we delete the strategy without the analysis of statistics. Below is an example of such a failed strategy. If a forex trading system seems to work, optimize it on the MT4 demo account and compare the statistics in the terminal with the data, calculated by Forex Strategy Builder.
There are comments on the Internet, written by those who took the responsibility to develop, employ and analyze the forex trading systems, built by the program. Out of of generated and tested strategies, only 80 turned out to be acceptable, only 10 of them passed forward testing successfully, only a few of them showed relatively acceptable performance, deserving to be tested on a demo account.
The final step is the optimization of a new strategy. Optimization means adjusting particular parameters of the strategy in order to improve its performance. That is why, you can optimize not only new generated strategies but the forex trading systems, already being applied on the real account. We go back to the tab, where we designed and generated the strategy open the Optimizer toolbar.
There are relatively few settings. Like the previous menu, there is the main area and the top toolbar. Click on the Settings tab in the toolbar and put ticks where it is necessary. In the main menu of the Optimizer Settings, correct the indicator settings as you think to be appropriate, again click on the Start and look for the optimized strategy in the Repository.
Strategy Overview is another group of tabs in the left drop-down menu. Here FSB Pro generates a reading-friendly description of the strategy properties and the statistical parameters of the indicators. This is another way to present statistical information. It consists of the following sections:. Open the tab it is necessary for each Expert Advisor generated and click on the Start button.
At the beginning of the article, I have briefly described the methods of exiting a trade optimistic, according to take profit, pessimistic, according to stop loss. The program compares the charts, constructed with different methods. If there is a single line of the price chart or, there are a few of them next to each other after the test, then everything is alright.
If there is a divergence, remove the strategy and start all over again - something went wrong. Below is an example of such a strategy with an error. Multi Markets. It is another way to stress test of the generated strategy. The test of whether the strategy will work in other markets. It is thought that is a forex trading system yields profits in one market, it shouldn't lose on the others.
It is an arguable matter, but if the positive yield remains with most trading assets, it means that the trading system is robust. Pay attention that there is a toolbar at the top that allows you to learn statistics on each market. Monte Carlo. It is the last tool for testing the strategy robustness. In the top menu, there are two tabs: Simulations and Options. There, you can add such a problem as a random spread, random fx rates etc. The most important result is the bottom line of the chart that displays what may hypothetically happen in the very worst case.
If in the worst case, the balance decreases in the end, I would recommend deleting this system right away. For example, based on my trading system performance, it is balancing on the edge. Forex Strategy Builder professional provides an opportunity trade with the EA directly from the program, without saving the file for MT4.
It is a kind of time-saving. To enter Auto Trader mode, you need to switch from the Builder mode to the Trader mode the left drop-down menu, it is just above the Editor tab. You also need to set up a connection to the MT4 chart Bridge. Press the icon in the top menu and in the right drop-down menu to import all the data into Excel. In general terms, I think the principle of using the program is clear. You enter the key data of the strategy and risk management, start the EA generation, analyze the performance statistics, and, finally, you optimize the new strategy.
It seems that everything is not so difficult. In practice, things are somewhat more complicated. First, it makes no sense to describe all menus and tabs, present in the program user interface since there are far more of them. Second, different versions of the program even one version of the program, but in different languages have differences in the user interface and menu structure.
The differences are insignificant, but they still are. You can also study the user guide on the FSB website forexsb. Forex Strategy Builder provides even more opportunities for those who know a programming language to code the EA. The program allows you to import any other indicators, different from the standard ones.
It is important that they are compatible with each other. I also want to stress the psychological aspect. EA builder makes a pretty convincing impression. Ample indicators, the possibility of automatic generation of trading systems, stress tests - all this seems so convincing that by the end of the Expert Advisor creation all these numbers and charts inspire in a trader a sincere belief in success. Forex Strategy Builder creates a kind of illusion that you really can create a trading Grail.
But, in fact, all the generated strategies, passed through stress tests, need thorough analysis. It is just another variant of creating automated trading systems. It has its advantages and flaws, needs much time, but it trains you to understand the peculiarities of trading systems setting. Forex Strategy Builder is a creator or trading strategies that is far from being ideal, but it has its strong points.
Its flaw is that you can generate the strategies for the timeframes starting from 1 hour and longer, but such strategies are perfect for traders with little experience. Optimization of the new strategy takes much more time.
Read more Some traders wish for the perfect robot that will do all the hard work for them. Of course, this is not possible, but automating your trading to a certain extent is quite feasible. EA trading will help you with this.
Trading on financial platforms is not always done manually. Experienced traders often use algorithms, which are created using code and special software. These mechanisms help to open and close trades according to previously established rules; for example, according to the price movement points in the underlying market.
When the basic parameters are met, the program can execute a sell or buy order on behalf of the trader. This eliminates the need for the trader to monitor the market for the purpose of implementing their strategy. By using algorithmic trading, a trader can engage in long-term investing, opening and tracking positions even when there is no time. An Expert Advisor is a special program that works by following the traders' instructions in the trading terminal without their involvement. The working scheme is very simple: the trader adds an EA to a trading terminal connected to a broker's server, and sets up the EA.
The robot starts trading automatically by the strategy preset by the trader. Expert Advisors make traders more comfortable psychologically when trading on financial markets. They do not have to make decisions every minute, and do not need to do in-depth technical and fundamental analysis: all necessary calculations are already included in the program.
With the development of EAs, algo stock and forex trading has gained popularity among users. Algorithmic trading of bitcoins on crypto exchanges has also become quite popular. This programming language has been developed specifically for working with automated systems. Programmers who are familiar with this language will be able to create a Forex advisor easily, while ordinary users may have to spend more time and effort creating theirs.
RoboMarkets offers an excellent solution for such cases — a free trading robots constructor that requires no programming skills. Creating your trading robot is simple with the Constructor. This is available in R StocksTrader, a multi-asset algo trading platform with advanced tools for technical analysis and more than 11, trading instruments. Before using an EA in real market conditions, traders can backtest it in the terminal.
This testing is very useful because it helps traders evaluate the efficiency of the Advisor they have created, troubleshoot possible errors, and estimate approximate profits and losses. Usually, there is a dedicated window in the terminal for this purpose, where users can also optimise the input parameters of their Advisors and thereby increase their performance. In the beginning of the trading journey, traders who have little experience with algo trading platforms may find operations involving trading robots rather difficult.
However, after several months of automated forex trading, they are usually able to create their own EAs. If you are hesitating about trusting your money to a computer program, you can configure your Advisor to alert you with sounds. This will make your work significantly easier, reducing the time required for performing graphic analysis, expecting signals, and opening and closing positions.
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Set Your Account. First steps in EA Studio. Create or generate strategies and create EA.