simple forex tester

MT4 or MetaTrader 4 is still the most popular foreign exchange trading platform around. Despite the release of the 5th generation of this platform chain from MetaQuotes Software Corp. the 4th version is still going strong by recording paid downloads even now. Simple forex tester is a secondary software application which allows back-testing directly inside a MT4 platform.

Simple Forex Tester

Being the most popular forex trading platform, it would only make sense to have a back-testing secondary application which would work within MT4. And this simple forex tester2 0 is a preferred choice for many professional traders and brokers out there.

Back-testing is compulsory not only for testing custom technical tools and indicators or strategies but also to hone structural trading skills. Hosting a tool onto a past market time-frame to make sure that it provides the right predictions is something that every professional trader does with their customized tools. And the same applies to strategies too.

Benefits of this software application

This simple forex tester 2 allows for an easy toggling between market and indicator or tool charts by catering to multiple windows. Working within MT4 means that it is programmed in mql4 language. This makes it directly compatible with any externally loaded secondary application.

There are other added benefits to simple tester forex pro applications such as:

  • It shows the comprehensive output results of back-testing.
  • Caters to multiple trades or test windows and boxes.
  • Allows speeding up, pausing and slowing charts during back-testing.
  • The user can place spot trades.
  • Syncs with real-time live account and shows balance graphically.
  • The user can modify open orders or positions directly.

One of the major user-wise plus points to this software application is that it works perfectly in tandem with MT4 with very rare glitches. The interface itself is based on an entirely similar design pattern. What this app does is that it duplicates MT4’s graphical functions in a simulated secondary window for back-testing.

Using Back-testing software for Practice Sessions

This is another way of making the best of these software applications. Following up from a previously mentioned pointer, growing fundamental chart analysis skills is what separates the best traders from the rest. And fundamental analysis is all about making the best of structural analysis patterns.

These apps basically provide a simulated platform for trade orders based on real-time data. Many experts go through past market data on a week-based time-frame looking for structural patterns to work upon. And then they use back-testing to work on strategies as per the graph structures.

Simple forex tester 2 as a Back-Testing Software

What makes this back-testing a preference over other ones is its compatibility and simplicity with the MT4 platform. There are other similar software applications as well such as Forex Tester and Trading Simulator – both of which are quite popular too. But a common drawback in both of these software apps is that none of them come with a compatible language.

Back-testing is something that is compulsory for a professional foreign exchange trading platform. Perfecting strategies and technical tool outputs are important for trading successfully. Simple forex tester is thus a must-have and a must-use application for guaranteeing profit as much as possible.

“Money will never be just for free.”

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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