Forex Strategy Builder v2.2.1
Using Forex Strategy Builder (FSB) you can quickly create and test a trading strategy for the internet FOREX market. You can also get better understanding of the technical indicators without writing scripts or using formulas. All indicators are built in the program and their parameters and logic can be chosen from a drop-down menu. Detailed charts will visualize the changes of the FOREX prices, all the deals made and even the change in your bank account if you were to use the particular strategy. You can also look at the automatic journals to see all the market actions. The program also includes some demo strategies and real market quotes.
It is 100% free to download and use.
interesting little program.. what would be really great is if we could load Mq4 indicators into it, to backtest our strategies, as well as spit out Expert Advisors..
I have not downloaded the program, but from outside it looks promising. I hope its backtester is more reliable than MT.
Test our strategies 1st
1st we test our strategies, then coding our mq4 indicator.
This way is better we create right indicator, save time!
sorry poor english
Strategy name: tricky USDCHF 1Hour more than 9800
Market: USDCHF 1 Hour
Balance: 9816 pips
Min account: 0 pips
Max account drop: 683 pips
Time in position: 39 %
Add to an open position
Logic The ADX value is rising.
Smoothing Method Exponential
Use previous bar value. True
[Close] Day Close
Be careful with this indicator!!!!
The strategy mentioned above, uses the indicator Fibonacii retracement. This indicator is based on the Zig-zag indicator to calculate the tops and bottoms. And here comes the big problem. The zig-zag indicator moves the signals.
What do I mean?
For example: If there is a rising market and after a pick the price fall down rapidly, the Zig-Zag indicator forms a Top. The Fibonacci places the zero level and starts counting downwards 38.2%, 50% ... together with the price. If we have Logic Continue when the price reach the 38.2% line, we enter into a Short position. If the market continue its fall there is no problem, but if the market turn up and form a new pick in a short time. The Zig-Zag removes the existing signal and places new top higher than the previouse. And, what to do now? We are short on the market, but the history test doesn't calculate this loss.
We can't correct this by changing the logic. The method of calculating the Zig-Zag indicator is wrong.
The solution - DO NOT use Fibonacci or Zig-Zag
The newest version of Forex Strategy Builder is available to download from http://ForexSB.com/download.html
Thank you for the warning. Basically, you are saying that zigzag repaints the past and hence should be avoided.
Yes, that's right.
There is something in the formula of calculating the Zig-Zag - respectively Fibonacci, that prevents the indicator to give too meny signals. It is works like smoothing the indicator. If you notice, neither Zig Zag nor Fibonacci are in the list of MetaTrader's main indicators.
I'm not shure, here is place to discuss the source code.
See the next pictures:
We see here, the selected bar 7/11/06 07:00 is Fibo top (line 0% - see the green line form the nex bar)
The signal was moved to: 7/11/06 14:00
OMG!!! That is the holy grail!!!
I have to agree with you under certain stage, that is a repaint stupid idiot. I'm a worshiper of Dealer Lot Management! In short, 10point3 and multilot scalper is my favorite lossing money EA... All we need is a good indicator to open position correctly. If we can programmed the cost average method on this above mentioned repainting system, it stack a martingale double lot size order if new fibo retracement came out...muahahahahaha that will be great! By the way, where is Yeoeleven?! I'm sure we have the same thinking about this. If somebody can program it, that will be crazy.
The newest Forex Strategy Builder v126.96.36.199 is ready for Free download.
Many new functions included: optimizer, indicators, better logic ...
verry nice, well done.