There are some articles so I hope you will find some decision/information there -
Reversing: Reducing maximum drawdown and testing other markets
The Easy Way to Evaluate a Signal: Trading Activity, Drawdown/Load and MFE/MAE Distribution Charts
LifeHack for Traders: Indicators of Balance, Drawdown, Load and Ticks during Testing
This should be fairly simple, if you plan to use your current broker to copy the signal then just find the signal using the Terminal > Signals tab in MT4/5.
If you plan to use the same broker as the signal provider, then, if you don't already have one, open an demo or real account with that broker first.
You can then click on Visualise on Chart as shown in this video to see all of the signal's trades on their charts.
* Note that if the signal has traded a lot of pairs then many charts might open.
* Also consider, as mentioned in the video, that all of the pairs are supported if you are not using the same broker.
I'm assuming that you want to know the drawdown at a specific candle for a specific time frame, so set the chart(s) to display to the period you want to study.
For the trades that were open during that period, simply use the Crosshair tool to work out the distance for each trade from it's Open to the largest High or Low during the period the trade was open.
Add them all up and you will have the total number of pips of drawdown there were for all of those trades.
I actually think this is a worthwhile practice when considering any
signal, because if you view it's trades on a chart you will
gain a visual understanding of what is really happening.
Am I correct that this is what you were wanting to work out?
It's probably the easiest one to start with because they show the calculation and explain most of the options.
https://www.xm.com/forex-calculators/pip-value
The calculation is fairly simple if your Account Currency and the Quote Currency (/XXX) are the same.
https://www.investopedia.com/terms/c/currencypair.asp
In this scenario, for a standard lot account, 1 pip will be equal to 10 $/₤/€ etc.
Once you start calculating values where they are not the same the calculation becomes more complex to understand because you have to also convert from your Account Currency to the Quote Currency.
That calculator does this automatically for you, though you'll need to make sure you enter price values that are correct for the broker and time you are looking at.
Also know that it will never be an exactly precise calculation for all of the trades you're studying because currencies are always changing and the trades will have different entry and exit times.
You could go overboard and calculate the exact value for each candle you're studying, but it would make the process fairly tedious and slow...
;)
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