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![]() For instance, using TradingView to execute trades and Excel to track the data is one of the best ways to do a backtest in my opinion. Therefore, you have to use Excel to document trades taken using one of the other backtesting solutions. The data quality isn’t the best sadly, but the efficiency is great!Įxcel – It goes without saying that with Excel, you aren’t able to take trades. Using the strategy tester you can test years of data in just minutes and get P/L graphs, in-depth data and the ability to export everything to a spreadsheet. MetaTrader 4 – MT4 is surprisingly user friendly and intuitive when it comes to backtesting. #Thinktrader backtesting software fullHowever, you’re not able to track data or analyse your trades from the platform, so you’ll be needing to manually record all trades made, doubling the time needed to complete a full test. Opening trades, skipping to certain dates in time etc is all done very well and it looks very pleasant. TradingView – TradingView is efficient in some aspects and lacking in others. With all data, charts and features built in, you’re literally ready to go within a few minutes and can get through a huge amount of trading data in just hours. You’re able to speed up candles, run EA’s and even export your trading data at the end, which can then be analysed making it extremely efficient.įorex Tester – Forex Tester is one of the most user friendly tools for backtesting the markets. There’s really not much to it and it’s extremely simple to use. Soft4Fx – Soft4Fx is extremely user friendly once setup. This is why efficiency is extremely important in your backtest tool… Even to very experienced traders, a large data task can write off a week of trading hours. The issue with this is the simple fact it can take a huge amount of time to actually complete a backtest task. When it comes to backtesting, you will ideally be gathering hundreds if not thousands of samples to analyse. I would definitely say that if you’re a retail trader or hobby trader, this is not worth exploring and something smaller scale would suffice. QuantHouse – QuantHouse is institutional grade quality and the price points are not available on the website. For most traders, the $33 monthly version should be more than good enough to deal with simple backtests! TrendSpider – Trendspider isn’t cheap and comes in at $33 per month for the premium version, ranging up to $97 monthly for the master version. #Thinktrader backtesting software licenseIf you don’t and don’t want to use a free alternative like Google Sheets, the cost is going to be around £100 for a license to just Excel. #Thinktrader backtesting software downloadMetaTrader 4 – MT4 is completely free to use! You can either download it directly from MetaQuotes or through your broker as the large majority of brokers will offer a white label MT4 platform to traders.Įxcel – Most people will already have access to Microsoft Excel so I’m counting this as completely free. I have been a paying customer of TradingView for years and I wouldn’t say I have ever needed to pay for a higher tier package than this. TradingView – TradingView comes in very cost effective at just $14 per month for the package needed to backtest. For the majority of retail traders, the $299 will be more than good enough for all of the backtesting needed. The years this tool has taken off my learning curve was very much worth the $99, in my opinion.įorex Tester – Forex Tester ranges from $299 for the lowest package, to $898 for the largest package. I have personally used this for many years and I would say that the value for money is very much there. Soft4Fx – Soft4Fx sells for around $99 for 2 licenses. Backtesting, if done properly, doesn’t need to be done frequently so you don’t want to be paying a huge amount of month each year to have the tool just sat in your toolbox gathering dust… #Thinktrader backtesting software softwareThe cost of your forex backtesting software is very much an important factor. ![]()
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