Forex Germany

Forex Trading - MetaTrader 4 Tools

Following a selection of useful forex related tools is shown.

Signal Copy

SignalCopy is an Expert Advisor which does not react on its own, but copies trades from one account to one or several other accounts. This works in such way that a kind of controlling EA of the master account continuously registers the information of all open trades in a shared folder which is permanently being monitored by an EA on the slave account. This shared folder may be on the same server, a FT server or a database server depending on the software version. The transmitted trades are replicated on the slave account, the time delay is less than one second in an ideal situation. It depends on the frequency of the price changes of the underlying chart how quickly trades are being copied, each price change will initiate a verification cycle of the master or the slave account.

SignalCopy supports ECN Broker as well as brokers with four to five-digit price quotations. Filters set on the currency pair, the Magic number and comments permit an exact management of all trades to be copied. In case of currency naming differences between brokers, an automatic or manual correction function is available. Moreover, the order size on the slave account can be adapted by an appropriate multiplier.

It is no problem to transfer long term strategies via SignalCopy to other accounts. When applying scalping strategies, the user should be cautious, as even small price differences between various brokers may have significant repercussions. For example, it is not recommended to copy trades from an ECN account with two price updates per second to a market maker account with a price update per five seconds.

SignalCopy's developers provide test versions on request which are valid for one month limited to the use on demo accounts only. Payment for the full version is through Paypal, the starter version costs USD 79.00. User registration is obligatory for the test version and the purchase of the software.

Walk Forward Analyzer

Walk Forward Analyzer is a program which automates the optimization of a backtest's input parameters and verifies the parameter quality afterwards.

The data will be loaded into the Walk Forward Analyzer after defining and saving the MetaTrader 4 backtest set ups. The analyzer will determine, based on the information, the ideal setup for a given period, e.g. January-April 2011, and will then test the settings in the following period, which would be May 2011 in this case. Afterwards both periods are being shifted by one month, and the procedure will be repeated (optimization February - May 2011, test June 2011).

Upon completion of all runs a detailed report will be produced showing the results and the so called Walk Forward Efficiency Ratio. This ratio permits an evaluation of the stability of the system, a check whether the Expert Advisor is really able to convert the optimized settings of the subsequent period into real results.

4xTrader

4xTrader is a provider of several trading tools, from simple indicators to complex Expert Advisors, which can be used to monitor and analyze brokers.

4xWatch for example monitors the connection to the broker and shows a minute based connectivity statistic for the last 30 days.

4xSentinel on the other hand analyses the broker in terms of requotes, spread and slippage and shows these key figures in real time. The EA also allows to create detailed reports based on the stored historic data of the previous 20 days.

EA Analyzer

EA Analyzer is a free Java application that allows to analyse the live trading history downloaded from MT4 as well as backtests results.

The application calculates key figures similar to those available on e.g. myfxbook.com but is easier to handle and doesn't require to upload any data.

EA Analyzer provides tabulated views as well as charts and graphics to illustrate the performance of the trading strategy.

EA Analyzer: statistical figures
EA Analyzer: performance chart
EA Analyzer: graphics
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