NNFX Algo Tester: What is it and what does it do?
No, seriously. What is the NNFX Algo Tester and how it can help me?
The NNFX Algo Tester is a tool designed to help users of the NNFX trading strategy develop, improve, trade and backtest their trading algorithms easily, quickly and accurately.
We all know that it is essential to backtest any trading algorithm before you start using it in real time, but manual backtesting is a repetitive and time-consuming task, and is all too often affected by human error that can give incorrect and misleading results.
This is where the NNFX Algo Tester can be a great help. Think of it as a machine, without emotions, programmed to simulate the behavior of your algorithm over and over again.
And that's not all. Once you have used the NNFX Algo Tester to complete your backtesting, you can go on to use it in forward testing and live trading by purchasing the appropriate license. This will give you access to the NNFX Algo Trader Panel, which allows you to easily control your algorithm in real time conditions. The Trader will check the status of your algorithm and notify you if any action is needed. You can even configure it to make and maintain your trades automatically. This is something you don't see every day . . .
So, there are lots of benefits to using the NNFX Algo Tester but the main reasons are:
- It automates a laborious manual process
- It helps you avoid mistakes
- It considerably reduces backtesting time
- It allows you to carry out fully automatic forward testing
- It improves the reliability of your results
- It makes live trading simple and fast
But this software can do a lot more, too. See all the features here: https://nnfxalgotester.com/#Features
Ready to start? -> Lets go!
How it works
The NNFX Algo Tester contains a series of options that allow you to choose what to include in your algorithm. All the NNFX strategy rules are there, and you can easily disable or modify any or all of them as you prefer. You can also specify various money-management options, your risk model, stop loss and profit targets, etc. And, of course, you can choose the indicators you want to use in your algorithm. The software includes a large selection of hand-picked indicators to choose from, and there is also a Custom Indicators option that allows you to use any other indicator of your choice. The settings of any indicator can be modified to your own specification.
Following configuration, you will be able to see the NNFX Algo Tester executing your algorithm on historical charts in real time, and study how each trade was made and progressed during the backtest.
Following each test, the NNFX Algo Tester will produce a report containing several important parameters about your algorithm. Depending on the results and your goals, you can then decide whether the algorithm needs to be changed and how it might be improved.
Besides backtesting the NNFX Algo Tester can also be licensed for use in Forward Testing and Live Trading, where it can be configured to operate as an authentic robot, trading in a fully automated way. However, you are still in control, since from the NNFX Algo Trader Panel you can monitor and modify your indicators, rules and other parameters in real time.
If you prefer to trade manually, you can have the NNFX Algo Trader check your intended actions before you make them, cutting out potentially expensive mistakes.
As you can see, the NNFX Algo Tester is the complete toolkit for anyone wishing to trade the NNFX way!
Is the NNFX Algo Tester essential to create a successful algorithm?
No. The NNFX Algo Tester will help you, but it is not essential in creating a successful algorithm. As you probably know, the originator of the NNFX strategy developed his algorithm manually. It is also important to realize that using the tester is no guarantee of success – that is up to you. However, NNFX Algo Tester will allow you to avoid the repetitive work of backtesting, it will help you make fewer mistakes, and it will make your NNFX journey both more enjoyable, more productive, and, hopefully, more profitable.
What do I need to use the NNFX Algo Tester?
The NNFX Algo Tester was developed entirely in Expert Adviser format for the MetaTrader 4 trading platform. All you need is to install MT4 on your computer and open a MetaTrader Account (broker account, demo or live). An internet connection is necessary in order to validate the Algo Tester license key whenever the tester is used.
Where can I find out more?
If you have a specific query, type it into the search bar at the NNFX Algo Tester help center. We have an extensive knowledgebase of articles that should answer most your questions. If you can't find what you're looking for, just open a support ticket and we'll be happy to help.