In this manual, we are going to show you the main and most important elements of the Forex Tester 4 interface. Once you have mastered this manual, you will be able to move on and learn more in-depth lessons.
Download Forex Tester and install the software.
The downloaded version already has 1 month of historical data on 16 currency pairs, as well as gold and silver, as well as 1 month of historical news for USD.
Working with Forex Tester 4, you need to do three things:
If your current time frame is equal to the value of 1 hour, and the tick package size is equal to 5 min, then the program will have to change the price 12 times before moving to the new bar (60 minutes / 5 minutes = 12).
In Forex Tester 4 you can enjoy the variety of symbols added. Now you can choose between more than 900 trading instruments including stocks, indexes, cryptocurrencies, and futures.
Please note that limit orders should be used when you expect the price to reach some level and then bounce from it, whereas stops orders are made for breakthrough strategies. If you think that the price will go up, reach a certain point, and then resume the downward movement, then you should set a “Sell Limit” order. If you expect the price to go down and breakthrough the support level, then it is necessary to open a “Sell Stop” order.
To add an indicator navigate to the "Insert → Add Indicator" menu.
In Forex Tester 4, we got all indicators grouped by their functions.
To import custom indicators in the .mql or .dll format into Forex Tester 4, use the File → Install → Install New Indicator menu. Indicators in the .mql format can be converted into the .dll format automatically. After importing, you can find your indicators in the Insert → Add Indicator → Custom menu.
In Forex Tester 4 we have added the historical news service as one of the major instruments of the fundamental trading.
1. Go to “Data Center → News” tab in order to download the historical news.
2. The Update News from server button allows you to immediately update the news.
3. By default, the news displaying is enabled and they are represented at the bottom of the chart as flags. The color of the flag border (red, yellow, green) indicates the importance of this news.
4. To disable the displaying of news on the chart please use the right-click mouse button and uncheck the “Show news” item or use Right Mouse Click => Chart settings => Settings => uncheck the “Show news” option.
In order to analyze the test results, switch from the "Currency" tab to the "Stats" tab in the "Market Info" window that is located in the upper left corner of the screen.
To export the trade history to Excel, click on the tab "Account History" at the bottom of the screen, right-click on any line, and choose the "Export History to File" option.
In Forex Tester 4, you can also export the Profit chart to Excel.
Right-click on the Profit chart → choose the option you prefer in the open context menu (Export Equity to a File; Export Equity to Excel).
On the “Account History” tab you can see your profit and loss in points in the “Profit / Loss” line. For convenient viewing of the account history, you can use various filters by clicking on the "Show filters" button.
All the necessary information regarding each candlestick is reflected in the "Data Window" panel. This panel is located in the left bottom corner of the screen. You can see the date, time, open, close, high and low prices of the bar, which is hovered over with the mouse at the moment. In addition, you can see values of volume, indicators and the index of the bar.
Make sure that the time frame of the chart corresponds to the time frame selected for the expert adviser (H1).
To change the indicators’ parameters and style right-click on the indicator and choose the “Edit” option.
The Expert Advisor will automatically open and close the trades using the rules of strategy.