FX Blue Trading Simulator For MT5
FX Blue Trading Simulator For MT5
FX Blue Trading Simulator For MT5
fxbluelabs.com
MT5 TRADING SIMULATOR
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MT5 TRADING SIMULATOR
The Simulator lets you place market and pending orders, set trailing stops, alter the s/l and t/p
on orders by clicking on the chart, save complex order definitions as templates, quickly close
all open orders, plus many more features which are not available as standard in MetaTrader 5.
The results of a simulation can be published to the FX Blue website, giving you access to the
full FX Blue reporting and analysis functionality.
Please note that the MT5 Strategy Tester Visualization currently has limitations compared to
MT4. (However, it does have some facilities for multi-symbol simulations, which MT4 does
not support at all.)
MT5s Strategy Tester Visualization window does not yet have any options for adding
technical indicators to a chart, or for drawing objects such as lines, Fibonacci retracements
etc.
MT4 visual-mode backtesting provides all the same features as trading on a live chart,
whereas the MT5 visualization is currently much more limited. Therefore, you can use the
MT5 Simulator to view historic prices and place historic trades, but you cannot add technical
indicators or objects to the simulated chart.
If you want to use technical indicators in your simulation, you will need to use MT4 and our
MT4 Trading Simulator until this functionality is added to MT5.
1.2 Licence
Unless otherwise specified in writing by FX Blue, this software is licensed for personal
use only. You are not allowed to distribute it to other people, regardless of whether or
not money is changing hands. You only have a licence to use the software if you,
personally, downloaded it from our website.
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MT5 TRADING SIMULATOR
The software is provided entirely at the users risk, and you should check it thoroughly
before deploying it on computers trading real money. FX Blue accepts no responsibility
whatsoever for any loss of any kind caused by installation or use of the software.
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MT5 TRADING SIMULATOR
You will need to restart any copies of MT5 which are already running. MT5s Navigator list
does not update until the software is restarted.
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MT5 TRADING SIMULATOR
Open the MT5 strategy tester, by choosing Strategy Tester from the View menu,
or by pressing Ctrl+R.
Choose FX Blue Trading Simulator from the Expert Advisor list.
Choose the symbol which you want to practise on from the Symbol list.
Choose the chart timeframe which you want to practise on.
Choose the date range which you want to practise on.
Turn on the Visualization setting.
Click on the Start button.
For example:
Once you click on Start, MT5 will collect the historic data for your chosen dates, and then
load its Strategy Tester Visualization in a new window, including the Trading Simulator. (If
nothing happens when you click on Start, please check the Journal tab of the strategy
tester. The strategy tester will not run if it cannot collect historic data for your chosen dates.)
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MT5 TRADING SIMULATOR
The first time that you use the Simulator, you will need to enter your FX Blue username and
password. (These details are then remembered for re-use in future.)
When you are ready you can start the simulation using the button in the MT5 strategy tester
or the equivalent button in the Simulator itself.
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MT5 TRADING SIMULATOR
No pausing.
Pause when s/l or t/p is hit. The simulation will pause each time that a trade is closed
at its s/l or t/p.
Pause after all trade closes. The simulation will pause each time that a trade closes for
any reason, including trades which you close manually. This option will also pause if
a pending order expires without being filled.
Pause at the start of each bar. The simulation will pause at the start of each and every
new bar. (With this option, you may want to set the strategy tester to its maximum
speed. You then decide at the start of each bar whether to place a trade, and resume
the simulation as a way of skipping to the start of the next bar.)
Pause at the start of each bar, and also at each trade close. This is a combination of the
two options above: the simulation pauses at the start of each bar, and also at any
trade-closes in the middle of bars.
You can do a simulation using multiple symbols using the Inputs tab of the strategy tester
pane. You set the ExtraSymbols parameter to a comma-separated list of the other symbols
which you want to include:
In the Simulator you can then switch between symbols using the drop-down list in the top-left
corner:
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MT5 TRADING SIMULATOR
Although you cannot change the price chart, and see the other symbols and their orders, you
can nevertheless monitor and close the orders using the close-panel or the account info.
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MT5 TRADING SIMULATOR
MT5 will show dotted horizontal lines for each order and also draw markers showing where
orders were opened and closed. The status indicator at the top of the Simulator will show
your current net position, e.g. +0.10 if you are long 0.1 lots, or -0.10 if you are short 0.1 lots.
You can control the lot size on new orders, and set a stop-loss, take-profit, or trailing-stop
using the fields above the buy and sell buttons.
You can also open calculators for each of these fields by holding down the Ctrl key while
clicking on them. For example, if you are trading 0.25 lots, and you want a stop-loss which is
equivalent to $100, then you can Ctrl+click on the S/L field and tell the calculator to work out
the number of pips which is equivalent to a fixed cash risk of $100.
The entry price for pending orders can be defined either as a fixed price (e.g. 1.23456) or as a
number of pips. For example, if you choose a buy-limit and enter a value of 20 pips rather
than a price, then the limit order is created 20 pips below the current price.
You can also create pending orders from the chart. If you hold down the Ctrl key while
clicking on the chart, a small window will pop up letting you create a pending order at the
selected price. If the price you click on is above the current price then you can create a buy-
stop or a sell-limit; if the selected price is below the current price then you can create a buy-
limit or a sell-stop.
The new-order form also lets you place one-cancels-other (OCO) orders. There are two types
of OCO order:
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MT5 TRADING SIMULATOR
OCO breakout. You specify two prices, or two values in pips, either side of the
current price, and the Simulator places a buy-stop and a sell-stop. Once one of the
pending orders is filled, the other is automatically cancelled. You would typically use
this when you are expecting a major price movement, but you dont know whether the
move is going to be up or down. For example, there are many trading strategies based
around trading the breakout, in either direction, of yesterdays range.
OCO reversion. In this case the Simulator places a buy-limit and sell-limit, rather
than a buy-stop and sell-stop. You would typically use this if you are expecting a
move in either direction followed by a return towards the current price e.g. a bounce
off yesterdays high or low.
You can close individual orders by opening the account info see below.
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You can change the s/l or t/p on all open orders by clicking on the chart. You move the
mouse over the price where you want to set the s/l or t/p, and then hold down the Ctrl key
while clicking i.e. the same method as for placing a pending order.
From the window which pops up, you then click on the button for moving the s/l or t/p. For
example, you can Ctrl+click on the high or low of a bar to set the s/l or t/p to that price.
This shows your total net profit in the simulation so far, your current balance and equity, the
profit on all open orders, the margin usage etc.
The account info also shows a list of all pending and open orders. You can close each one of
these by clicking on the icon next to its ticket number.
You can control the settings used by the Simulator by clicking on the Tools button ( ) and
choosing Settings. This lets you turn on confirmations before orders are opened and closed.
You can see a list of all the automated tasks which the Simulator is running: any trailing stops
on orders, plus any OCO orders. You click on the Tools button ( ) and choose Auto tasks.
You can undock the simulator into a floating window by clicking on the Tools button ( )
and choosing Undock terminal. You can continue to trade while the terminal is undocked
from its chart. To re-dock the terminal, click on the Tools button again and choose Re-dock
terminal
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MT5 TRADING SIMULATOR
Please note: if you already use FX Blue to publish your live trading results, you may want to
create a second account for use with the Simulator so that publication of the simulated results
does not overwrite your live results. If you need to change account at the end of the
simulation, click on the button and then log in again using a different FX Blue account.
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