I was wondering what types of tools there are out there for gathering data relative to an investment strategy. For example, I want to know the absolute number of pips a trade moves in my direction each time a given market entry is given (say within the next few candles), as well as the drawdown for that same trade(over the same time period), I am looking to obtain these numbers for use in data analysis to determine profit points and stop loss points within a system at a specific confidence level…
Can this be accomplished through MT4 as well as backtesting the system after i have these figures established??
Thanks for any help in advance.