Help With My Statistical Analysis?

Trading Discussion Trade Journals
1

Hello!

I am currently using Forex Tester with the Double Boilinger Band System. Two pictures are as follows.

D
D1767×735 45.6 KB
W
W1920×1017 80.1 KB

Then there are the stats:

Stats
Stats1483×165 12 KB

The idea is that on the D chart i need to buy/sell when the price is outside of the green band indicating a trend. I should also mention that i have begun recording on the stats if it is aligned with the W chart (if i’m buying price is above the green line on both). First TP is half the position and is based on half the Average True Range number on the bottom of the D chart. the 2nd close is 2x the Average True Range. Also if the 1st TP is hit the position gets derisked. SL is always supposed to be below the 15 MA.

I’ll break the comments up:

  1. Price of the first BB at close of last Daily candle. Green Line.
  2. Price of the second BB at close of the Last Daily candle. Purple Line
  3. 15 Moving Average price at close of the Last Daily Candle. Red Line
  4. This number is the yellow line at the bottom of the D chart. This is supposed to be a MA slope indicator. A higher number indicates a stronger MA slope. Or at least that’s the intention.
  5. This is the Average True Range. My first TP is half of this amount. Red line at bottom.
  6. This is the stop loss in pips. Its always supposed to be behind the 15 MA which is #3 above.

I am trying to compare these numbers to the gain/loss from the trades to determine what is more effective. For example, Is it more effective with a small stop loss (trade taken close to the green line and when BB bands are not very expanded). Or does it work better when the trade is taken closer to the purple line? Or if i have a higher MA slope (yellow line) is that more effective?

What type of graphs such functions should I be using to analyze this data? Without the numbers I don’t see how anyone can make sense of the chaos that occurs in this type of activity. I can do a function to split the numbers out of the comment field but then i need to compare them to the gain/losses to see what is working better and what position price is relative to all the other data that ultimately improves my expectancy. This is how a system is built.

Any help is appreciated!

Thanks!

2

Hi, I think the fastest way is building Eaxpert Advisors with different settings and compare results. Regards Greg

3

Hello Greg, that might work if i knew how to code. However i do not. Learning to code and build such things might take quite some time…

4

If you have a license for Forex Tester 4, you also have access to the constructor, on a principle. “Drag and drop”

5

Ahhh yes the visual strategy tester. I skipped over that until about 15 mins ago. Now I will be experimenting with it. It seems like a useful tool. Although its functionality does appear to be limited. Is it something that you use frequently?

6

Hi NScrilla,

This is my first post so please be kind. I don’t have any experience with Forex tester but I do have substantial experience with MT4 EA’s. Based on the parameters that you want to test for, this really sounds like something could be achieved best by using an EA with the parameters that you want to optimise built in. I know you said that you aren’t a coder and I have been in the same situation in the past. It is surprisingly easy to find someone to help you with the coding. So if the forex tester doesn’t work, it’s worth keeping in mind

7

Forex tester strategy builder shows alot of promise. However it does not appear to allow dynamic SLs. I feel using fixed SL is not an effective method since the average true range is always changing. How might I go about getting someone to help me with the coding? Are there forums somewhere or something?

8

There are MANY forums :joy:. A simple Google search for metatrader freelancers would bring up a load of results. Having said that, I doubt know if babypips allowed attachments but I have a bit of spare time and could help you out once you have finalised your requirements

9

Just to clarify my response. There are a few major forex forums where the members will sometimes help out for free which is what I’m offering or there are websites where you can hire a developer to code it for you. Freelancer is the site I have used to hire developers in the past