Installing and Using Strategy DLL’s in ForexTester

A ForexTester strategy will be supplied to you as a Windows DLL library, so a file with a .dll suffix.

To Install

1. Shut down your copy of ForexTester

2. Find the folder where ForexTester is installed. This is usually something like
C:ForexTester3
(or C:ForexTester2 if you’re running the older version)

3. Find the Strategies sub-folder (so C:ForexTester3Strategies for example) and copy the the dll file there.

4. Re-start ForexTester and bring up the Strategies List dialog box by using the Testing | Strategies List menu option (note there is also a toolbar button to do this as well).

A typical Strategies List dialog box

5. Look for the strategy that you are choosing to install in the list. If you cannot see it then look on the Journals tab to see if there are any error messages explaining why it can’t find or load the DLL.

6. Once you’ve found the Strategy, click on it to highlight it (it turns yellow) and then click on the Properties button to bring up the Strategy Properties dialog box for your strategy. Different strategies will have different parameters but please note that in general for a ForexTester strategy there will be a Currency Pair and a time-frame input. In order for your strategy to work you MUST ensure that both these inputs match the chart that you are working with otherwise the strategy will not work. Click the Apply button at the end to save your chosen input values and close the dialog box.

7. Back in the Strategies list dialog box, tick the box at the left-hand end of the line that lists your strategy to say that you want to activate your strategy. Please also ensure that the Enable strategies execution box is ticked at the bottom.

Your chosen strategy after activation

8. Your strategy should now be activated and will start working as you play through your data. Please note that you can turn all strategies on and off using the Testing | Enable/disable Strategy Execution menu option or alternatively by using the toobar button. If you want to reset your strategy at anytime then go back to the Strategies List and remove and then re-apply the tick on the left-hand side. This will reset the strategy back to its initial state.

 

The Strategy Enable/disable toolbar button

 

Troubleshooting

If you have any problems with any part of this installation then one useful tip is to look at the Journal tab of ForexTester where helpful information is printed out. There you should see any error messages appear when ForexTester tries to load up the dll.

Installing & Using Script DLL’s in ForexTester

A ForexTester script will be supplied to you as one or two Windows DLL libraries, so files with a .dll suffix.

To Install

1. Shut down your copy of ForexTester

2. Find the folder where ForexTester is installed. This is usually something like
C:ForexTester3
(or C:ForexTester2 if you’re running the older version)

3. Find the Scripts sub-folder (so C:ForexTester3Scripts for example) and copy the two dll files there.

4. Re-start ForexTester and find the Scripts panel. This is usually on a tab next to the Data Window but if you can’t find it then go to the View | Show Panels | Scripts menu option, making sure that there’s a tick next to it. You should see your script or scripts listed there though you won’t initially see anything in the Hotkey section

The Scripts panel

5. Right click on one of the scripts and select Edit Script Properties. This will bring up the script properties dialog box. Here you can set all the inputs for your script. The first entry in this list will be the Hot key value. Please note that you must set this value to a unique key combination that is not being used by any other script, otherwise it will complain. Please also note that in general for a ForexTester script there will be a Currency Pair and a time-frame input. In order for your script to work you MUST ensure that both these inputs match the chart that you are working with otherwise the script will not work.

A typical script input selection

6. You can set the other inputs as required for your particular script.

Troubleshooting

If you have any problems with any part of this installation then one useful tip is to look at the Journal tab of ForexTester where helpful information is printed out. There you should see any error messages appear when ForexTester tries to load up the dll.

 

To Use

When you want to apply the scrip to your chart you can either simply double-click on the script name in the Scripts panel or you can use the unique key combination. This will immediately run the script. Please note that a script is specifically designed to be a “run once” operation. To get it to run again you need to double-click again (or use the key combination again).

ForexTester Back-test Platform

Over the years there have been any number of back-testing platforms but one which I’ve recently come across and which I really like is ForexTester. This has been designed very much to look like MetaTrader 4, which is my preferred FX platform anyway so I feel very much at home with it. What it enables you to do is to step through historic data on a bar by bar basis (or even tick by tick if you really want) and to place trades on the chart using a simple right-click just as you would for Mt4. It has drag-and-drop for it’s stop losses and take profit levels and you can trade multiple positions, trade hedged positions in fact everything that you would expect to do on Mt4. It will keep track of all your fills, positions and account equity so it feels just like the real thing. In this way you can back-test your approach across years of historic data, thereby gaining a huge amount of market experience at a much faster pace than you would otherwise be able to if just forward testing in real time.

ForexTester

The Forex-Tester Platform in action

So, what are the pro’s and con’s? Well, if you’re looking for a programmatic testing platform then this isn’t really the ideal platform. For sure you can code up indicators, scripts and strategies on it but if you have fairly simple back-testing requirements then something like TradeStation or MultiCharts is going to be much better. The one exception to this would be if your strategy involved hedged positions (so both long and short positions simultaneously) in which case the two previous platforms can’t easily accommodate it. In such situations I generally use ForexTester, coding my strategy up into a dll “EA” ForexTester Strategy in order to do all my testing.

So if this isn’t a programmatic platform then what is it? Well, this is rather for more discretionary traders. If you trade using any method where there’s an element of discretion or of “eyeballing the chart” then this is the perfect platform. Perhaps trend-line breaks, support or resistance or Fibonacci levels, all methods which are very hard to do programmatically, for all such approaches this would be the ideal platform. For those of you who are keen on indicators it has all the common ones at your disposal as well as various drawing tools such as Andrew’s Pitchfork, wave counts, Fibonacci etc.

In fact I’ve become so enamoured with this platform that I’ve started to develop and sell some add-ons for it (see here for details) to make back-testing even easier and more hassle free. Think of it as the ForexTester equivalent of scripts and EA’s. In addition I’ve also launched a simple historic data service whereby users can download historic data which can be imported into ForexTester.

I’ll leave you with this fact: of all the successful professional traders that I know (and I know quite a few these days), the vast majority of them swear by ForexTester and attribute their success to using it.

If you would like to buy the ForexTester platform at a discount to the full retail price then you can do so by clicking on this link here.

ForexTester “Riskless Pyramid Approach” Strategy

This is an agressive way to pyramid trades in a risk-free way: at each new add-on the stop-loss on the combined position is moved to break-even. By doing this multiple times very aggressive returns can be achieved with no additional risk apart from that of the initial trade.

See our introductory video for more details:

If you would like more information on this product or to order it then please get in touch directly via our Contact Us page

ForexTester “Easy Order Entry” Script

If you need to do position sizing calculations for constant account risk on your entries then this natty ForexTester script is for you. When you run the script it automatically replaces your order with one sized to the correct amount for your required risk. It saves countless hours in back-test sizing calculations.

  • Automatically calculate sizing according to a fixed percentage of account risk or fixed $ amount.
  • Automatically set take profit levels at a fixed reward to risk ratio
  • If you want to “bracket” a single bar then entry and stop-loss prices as well as the position size are all automatically calculated

See our introductory video for details:

If you would like more information on this product or to order it please get in touch with us directly via our Contact Us page.