MMTools - Backtester

❖ Overview

Backtester is a script implemented as a strategy, featuring multiple conditions and tools to offer an alternative way to work with Catcher. It supports both backtesting and algorithmic trading, allowing you to evaluate the indicator's performance on historical data for any instrument using the Strategy Tester.

❖ Settings

⚙️ Custom Conditions and Signals
This section is intended to provide flexibility when working with Catcher. (If you intend to use Catcher alone, this section can be disregarded). You may combine the primary indicator (Catcher) with additional custom indicators to define entry and exit signals. Simply add the custom indicator to your chart, display it and then select its name in the corresponding dropdown menu. By default, the 'Close' option is selected, meaning custom conditions are disabled.

• Operator 'OR': An entry order is activated when either your custom signal or the primary signal occurs.
  
• Operator 'AND': An entry order is activated only when both the custom and primary signals occur simultaneously.
  
• If both 'AND' and 'OR' operators are used, enabling the 'Only Primary' option will apply the 'AND' operator only to the primary indicator.
  
• Custom Exit: Allows the strategy to close a position based on a custom signal, in addition to standard exit conditions. The first condition met will trigger the exit.
  

Note: The strategy executes orders at the open of the next bar after the custom condition is met.

⚙️ Confirmation
When enabled, the strategy will enter a position only if a specified number of signals occur within a defined lookback period.

⚙️ Exits
Two types of exit mechanisms are available for take-profit and stop-loss:

• Timeout: Sets a maximum duration (in bars) that a trade can remain open. If this limit is exceeded, the strategy will close the position.
  
• Percentage-Based: Exit positions based on a specified percentage move.
  

⚙️ Start Date
Specifies the starting point for the backtest.

⚙️ Plotting
The green line represents the take-profit level, while the red line indicates the stop-loss level. Plotting is limited to the last 250 bars.

⚙️ Other Settings
Remember to configure additional parameters under the “Properties” tab, including commissions, slippage, and pyramiding. Default commission is set at 0.05%.

❖ Access
Please refer to the Author's Instructions field to request access to the script.


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Disclaimer

The information provided by my scripts is for informational purposes only and does not constitute financial advice. Past performance is not indicative of future results. Always do your own research before making financial decisions.