I had not done any backtesting before because people say it is not accurate. But also because in MT4 there is no feature to backtest multiple time frames. But I tried the Mod Period converter and now i can use 2,3,4 charts if I like at the same time. Can draw SnR, trend lines, fibs on any of them. The only problem I can think of is the big price spikes from “past” news which I would not be aware of when backtesting. Other than this, assuming the data is 90% + accurate. Backtesting would be a great idea right?
No indicators, just S/R and trend lines, PA and Fibs. Pivots also update on backtesting which is good. I use the 4hr and the apply a *6 multiplyer on the mod converter to get the Daily. I can follow months worth of Price Action in a couple of hours and place many practice trades, everytime it goes wrong I can see why and learn from my mistakes at a hugely boosted speed.
This is a good thing right? Is there any way I could be getting false hopes if I do well in backtesting and find it doesn’t work in forward testing? As long as the period I test is not too long ago so that the Market flow is similar to now i should be ok i hope.
So this thread is really requesting approval of this method and also to let others know that multiple time frame backtesting can be done in MT4 if they didn’t already know.
thanks