{"id":1019515,"date":"2020-04-07T23:58:48","date_gmt":"2020-04-08T06:58:48","guid":{"rendered":"https:\/\/www.tradingheroes.com\/?p=1019515"},"modified":"2024-04-10T00:09:12","modified_gmt":"2024-04-10T07:09:12","slug":"how-to-do-mt5-manual-backtesting","status":"publish","type":"post","link":"https:\/\/www.tradingheroes.com\/how-to-do-mt5-manual-backtesting\/","title":{"rendered":"How to Do MetaTrader 5 Manual Backtesting"},"content":{"rendered":"<div align=\"center\"><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/tGxLMOBSvW4\" width=\"840\" height=\"450\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/div>\n<p>MetaTrader 5 is a solid automated backtesting platform.<\/p>\n<p><strong>But did you know that it's also a pretty good <em>manual<\/em> backtesting platform?<\/strong><\/p>\n<p>In this post, I'll show you how to use this free software to manually backtest your strategies.<\/p>\n<p>This is a great option if you don't want to purchase software like <a href=\"https:\/\/www.tradingheroes.com\/naked-markets-software-review\/\" target=\"_blank\" rel=\"noopener\">NakedMarkets<\/a>.<\/p>\n<p>I'll give you all the tools that you need and the exact steps on how to do it.<\/p>\n<p>If your broker only has MT4 available, then It will work in a very similar way.<\/p>\n<h2>Why You Should Backtest<\/h2>\n<p><strong>Backtesting is an excellent first step in helping you determine if a strategy has an edge or not. Since you can run through historical data very quickly in backtesting, this gives you a lot more data than if you only traded in a demo or live account.\u00a0\u00a0<\/strong><\/p>\n<p>Testing that might take months or years in demo trading, can be completed in a matter of days or weeks with backtesting.<\/p>\n<p>You can also practice a strategy when the markets are closed, making it an ideal training tool.<\/p>\n<p>So it's extremely beneficial to learn this skill and MT5 is a good software to start with because it's free.<\/p>\n<p>This is the beginning of the roadmap to successful trading. To get a copy of the <strong>Trading Success Roadmap<\/strong>, <a href=\"https:\/\/www.tradingheroes.com\/consistently-profitable-trading\/\" target=\"_blank\" rel=\"noopener noreferrer\">read this post<\/a>.<\/p>\n<p>Here we go&#8230;<\/p>\n<h2>Download MetaTrader 5<\/h2>\n<p>The first step is to download MetaTrader 5.<\/p>\n<p>You can get the software from your broker or you can download it directly from the <a href=\"https:\/\/www.metatrader5.com\/en\" target=\"_blank\" rel=\"noopener noreferrer\">MetaTrader website<\/a>.<\/p>\n<p>It's usually best to get it from your broker, but if you don't have a broker yet, the MetaTrader version will do just fine.<\/p>\n<p>Once you have a broker, you can connect to your broker through the MetaTrader version.<\/p>\n<p>When you get the software from your broker, it's automatically setup for that broker, so it can be a little easier to get started.<\/p>\n<p>Either way, you can get the complete MT5 installation instructions <a href=\"https:\/\/www.metatrader5.com\/en\/terminal\/help\/start_advanced\/installation\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>.<\/p>\n<h2>Download Your Data<\/h2>\n<p>In order to do a valid backtest, you should have as much historical data as possible.<\/p>\n<p>Over the years, I've tried several backtesting solutions that only allow you to test a couple of years of data.<\/p>\n<p>That's totally useless because you won't have enough trades to make a valid decision about a trading strategy.<\/p>\n<p>So get as much data as you can. To download additional data, go to: <em>View<\/em> &gt; <em>Symbols<\/em><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1019850\" src=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/mt5-symbols.jpg\" alt=\"MT5 menu - symbols settings\" width=\"195\" height=\"316\" \/><\/p>\n<p>Then select the currency pair that you want to download data for.<\/p>\n<p>After you've selected the pair, click on the Bars Tab.<\/p>\n<p>In this example, I'm going to download the USDCAD currency pair.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1019851\" src=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/download-bars.jpg\" alt=\"MT5 download bars\" width=\"789\" height=\"603\" srcset=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/download-bars.jpg 789w, https:\/\/www.tradingheroes.com\/wp-content\/uploads\/download-bars-768x587.jpg 768w\" sizes=\"auto, (max-width: 789px) 100vw, 789px\" \/><\/p>\n<p>On the <em>Bars<\/em> tab, select the timeframe of data you want to download, then the starting and ending dates of the historical data.<\/p>\n<p>Finally, click the <em>Request<\/em> button to do the download. I found that I had to click the button several times to get the data.<\/p>\n<p>So if you don't get it on the first try, keep trying.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1019852\" src=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/download-data.jpg\" alt=\"Download data\" width=\"780\" height=\"606\" srcset=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/download-data.jpg 780w, https:\/\/www.tradingheroes.com\/wp-content\/uploads\/download-data-768x597.jpg 768w\" sizes=\"auto, (max-width: 780px) 100vw, 780px\" \/><\/p>\n<p>If you have your own data, then you can upload it with this button.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1019853\" src=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/import-bars.jpg\" alt=\"Import MT5 data\" width=\"780\" height=\"606\" srcset=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/import-bars.jpg 780w, https:\/\/www.tradingheroes.com\/wp-content\/uploads\/import-bars-768x597.jpg 768w\" sizes=\"auto, (max-width: 780px) 100vw, 780px\" \/><\/p>\n<p>Once the data is downloaded, you will see it in the window. You can scroll through the data to see how far back it goes.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1019854\" src=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/FOREX-data-in-mt5.jpg\" alt=\"Forex data in MT5\" width=\"790\" height=\"611\" srcset=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/FOREX-data-in-mt5.jpg 790w, https:\/\/www.tradingheroes.com\/wp-content\/uploads\/FOREX-data-in-mt5-768x594.jpg 768w\" sizes=\"auto, (max-width: 790px) 100vw, 790px\" \/><\/p>\n<p>That will give you the data you to do your backtesting.<\/p>\n<p>You can also find third party companies that provide market data for you to upload into MT5.<\/p>\n<h2>Open Your Spreadsheets<\/h2>\n<h3>Trade Tracker Spreadsheet<\/h3>\n<p>Before you get started, you'll need a spreadsheet to record your results. One of the biggest benefits of <a href=\"https:\/\/www.tradingheroes.com\/resources\/best-forex-trading-software\/\">other software<\/a> is all of this information is automatically recorded for you.<\/p>\n<p>But if you would like to continue using MT5, then create a spreadsheet with the following columns:<\/p>\n<ul>\n<li>Open date<\/li>\n<li>Open time (if day trading)<\/li>\n<li>Currency pair<\/li>\n<li>Long or short<\/li>\n<li>Open price<\/li>\n<li>Close price<\/li>\n<li>Stop loss price<\/li>\n<li>Take profit price<\/li>\n<li>Pips result<\/li>\n<li>Pips risk<\/li>\n<li>Pips to profit target<\/li>\n<li>% Risk on trade<\/li>\n<li>Risk multiple result<\/li>\n<li>$ P\/L<\/li>\n<li>Running balance<\/li>\n<li>Wins\/losses<\/li>\n<li>Win %<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1019855\" src=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/spreadsheet-manual-backtesting.jpg\" alt=\"Manual backtesting spreadsheet\" width=\"1200\" height=\"271\" srcset=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/spreadsheet-manual-backtesting.jpg 1200w, https:\/\/www.tradingheroes.com\/wp-content\/uploads\/spreadsheet-manual-backtesting-768x173.jpg 768w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p>Once you've built your spreadsheet, then move on to the next step.<\/p>\n<h3>Backtesting Results Spreadsheet<\/h3>\n<p>Next, you should keep a spreadsheet that tracks the results of each of your individual tests.<\/p>\n<p>Be sure to track the following for each currency pair:<\/p>\n<ul>\n<li>System name<\/li>\n<li>System notes<\/li>\n<li>Chart timeframe<\/li>\n<li>Version<\/li>\n<li>Test number<\/li>\n<li>Return<\/li>\n<li>Win Rate<\/li>\n<li>Trades<\/li>\n<\/ul>\n<p>Then create a sum and average in the last two columns.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1019857\" src=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/Screen-Shot-2020-05-18-at-6.51.36-PM.png\" alt=\"Backtesting tracking sheet\" width=\"1208\" height=\"101\" srcset=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/Screen-Shot-2020-05-18-at-6.51.36-PM.png 1208w, https:\/\/www.tradingheroes.com\/wp-content\/uploads\/Screen-Shot-2020-05-18-at-6.51.36-PM-768x64.png 768w\" sizes=\"auto, (max-width: 1208px) 100vw, 1208px\" \/><\/p>\n<h2>Keep Your Trading Plan in Front of You<\/h2>\n<p><strong>When you're backtesting, it can be easy to deviate from the plan. If you're like most people, you'll start tweaking the strategy in the middle of the test.<\/strong><\/p>\n<p>I've done this before too, so that's why I keep my trading plan in front of me while I'm testing.<\/p>\n<p>It will keep you on track and ensure that you are sticking to the plan.<\/p>\n<p>You can get a free PDF download of the Trading Plan Worksheet I use <a href=\"https:\/\/www.tradingheroes.com\/forex-trading-plan-guide\/\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>.<\/p>\n<p>Once you have your plan in front of you, it's time to begin your testing.<\/p>\n<h2>Start Testing<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1019861\" src=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/how-to-mt5-manual-bt.jpg\" alt=\"How to use MT5 for manual backtesting \" width=\"1920\" height=\"1080\" srcset=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/how-to-mt5-manual-bt.jpg 1920w, https:\/\/www.tradingheroes.com\/wp-content\/uploads\/how-to-mt5-manual-bt-768x432.jpg 768w, https:\/\/www.tradingheroes.com\/wp-content\/uploads\/how-to-mt5-manual-bt-1536x864.jpg 1536w, https:\/\/www.tradingheroes.com\/wp-content\/uploads\/how-to-mt5-manual-bt-1280x720.jpg 1280w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/p>\n<p>Now it's time to get started!<\/p>\n<p>First select the pair and timeframe that you want to test.<\/p>\n<p>Next, add any indicators that you'll be using to your chart.<\/p>\n<p>Then scroll your charts back to a point in time that you want to start from.<\/p>\n<p>If you are testing the H4 chart or higher, I would recommend going back as far as possible.<\/p>\n<p>You can usually test all of the data for a Forex pair on a H4 chart or higher.<\/p>\n<p>When testing lower timeframes, you should pick a few timeframes and test on those timeframes only. Pick a good mix of timeframes that have the following characteristics:<\/p>\n<ul>\n<li>Strongly trending market<\/li>\n<li>Strongly ranging market<\/li>\n<li>Neither strongly ranging or trending<\/li>\n<\/ul>\n<p>That will give you a good idea of how your <a href=\"https:\/\/www.tradingheroes.com\/how-to-backtest-a-trading-strategy\/\"  data-wpil-monitor-id=\"137\">strategy will perform in different market<\/a> conditions.<\/p>\n<p><strong>Do the following to scroll back quickly on your chart:<\/strong><\/p>\n<p>1. Turn off Autoscroll. This will stop the chart from moving to the most recent candle every time price changes.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1019858\" src=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/autoscroll-off.jpg\" alt=\"Turn off autoscroll\" width=\"464\" height=\"297\" \/><\/p>\n<p>2. Hit <em>Enter<\/em> on your keyboard to specify a start date. A small box will appear in the lower left corner.<\/p>\n<p>Enter the date that you want to scroll back to on the chart in <em>dd.mm.yyyy<\/em> format, then hit <em>Enter<\/em> again.<\/p>\n<p>You can also manually scroll back to the date on the chart that you want to start from.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1019859\" src=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/start-date-mt5-chart.jpg\" alt=\"MT5 chart start date\" width=\"634\" height=\"510\" \/><\/p>\n<p>Once you have scrolled back to the historical data that you want to start at, then hit <em>F12<\/em> on your keyboard to move the chart forward, one candle at a time.<\/p>\n<h2>Record Your Results<\/h2>\n<p>Every time your setup fires off, place a trade and record it in the spreadsheet.<\/p>\n<p>You don't have to take screenshots at this point because you don't even know if the strategy works or not.<\/p>\n<p>So just keep testing as fast as you can, so you can get as much data as possible.<\/p>\n<p>Creating screenshots will only slow you down.<\/p>\n<h2>Review Your Results<\/h2>\n<p>Now take a look at your spreadsheet and calculate the following:<\/p>\n<ul>\n<li>Win Rate (%)<\/li>\n<li>Return (%)<\/li>\n<li>Number of Trades<\/li>\n<li><a href=\"https:\/\/www.tradingheroes.com\/how-to-calculate-maximum-drawdown-in-excel\/\" target=\"_blank\" rel=\"noopener noreferrer\">Maximum Drawdown<\/a><\/li>\n<\/ul>\n<p>This is enough data for now.<\/p>\n<p>It will help you understand if you want to pursue this strategy or not.<\/p>\n<p>If you want to be extra sure, do another round of testing to verify your results.<\/p>\n<p>Sometimes you might be distracted or not in the right mindset when you do a test.<\/p>\n<p>So if you get the same result with a second test, that will give you much more confidence that a strategy has an edge and you should move <a href=\"https:\/\/www.tradingheroes.com\/backtesting-vs-forward-testing\/\"  data-wpil-monitor-id=\"162\">forward to the next step in your testing<\/a>.<\/p>\n<h2>Test Another Pair<\/h2>\n<p>If you're satisfied with the results of a currency pair, then move on to testing another currency pair.<\/p>\n<p><strong>Not all currency pairs behave in the same way, so you can't assume that it will work on other pairs too.\u00a0<\/strong><\/p>\n<p>Some pairs are more volatile than others. Each individual currency is influenced by different economic factors.<\/p>\n<p>You might be surprised at how differently a strategy performs with different strategies.<\/p>\n<p><em>This is why you need to test each pair individually.<\/em><\/p>\n<p>Be sure to record all of your rounds of backtesting on a separate spreadsheet.<\/p>\n<h2>Things to Avoid<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-1019523\" src=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/testing.jpg\" alt=\"Backtesting with MT5\" width=\"1200\" height=\"600\" srcset=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/testing.jpg 1200w, https:\/\/www.tradingheroes.com\/wp-content\/uploads\/testing-768x384.jpg 768w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p>Here are a few things to be aware of when doing backtesting with MetaTrader 5.<\/p>\n<p>These tips will help you get the most out of your MT5 testing sessions.<\/p>\n<h3>Moving Too Fast Through the Charts<\/h3>\n<p>When you move too quickly through a chart, there's the tendency to move past an entry point on the chart.<\/p>\n<p>That leads to hindsight bias because you already know what's going to happen.<\/p>\n<p>If you already know how a trade will turn out, then you'll have biased data.<\/p>\n<p><strong>So find the testing speed that will allow you to get a lot of testing in, but also won't give you advanced knowledge of each trade.\u00a0<\/strong><\/p>\n<h3>Changing Your Strategy in the Middle of a Test<\/h3>\n<p>It's really tempting to start tweaking your strategy in the middle of a test because you see a\u00a0 new advantage.<\/p>\n<p>But stick with the strategy, or you won't have a valid test.<\/p>\n<p>When you change a strategy in the middle of the test, you won't know how good the original rules really are.<\/p>\n<p>You also won't know how good the new rules are either because you are only doing a partial test with them.<\/p>\n<p><strong>So finish a test with one set of rules. Then create a new test with your new testing idea.\u00a0<\/strong><\/p>\n<p><em>Otherwise, your testing data is useless.<\/em><\/p>\n<h3>Stopping Too Early<\/h3>\n<p>If you win 10 trades in a row in the beginning of a test, you might be tempted to stop the test and call it a success.<\/p>\n<p><em>Don't.\u00a0<\/em><\/p>\n<p>The strategy may have just hit a really profitable streak that isn't normal for that strategy.<\/p>\n<p>Stopping early won't allow you to see the entire picture and can lead to losses later.<\/p>\n<h3>Giving Up on a Low Return Strategy<\/h3>\n<p>It can be tempting to give up on a test if it's only returning 1% per year.<\/p>\n<p>However, consider what would happen if you compounded that return with <a href=\"https:\/\/www.tradingheroes.com\/manually-backtest-multiple-timeframes\/\"  data-wpil-monitor-id=\"197\">multiple pairs or timeframes<\/a>.<\/p>\n<p>If the strategy has a high win rate, it's certainly worth considering.<\/p>\n<p>You might give up on an otherwise profitable strategy and find yourself jumping from strategy to strategy, when the first strategy would have met your goals.<\/p>\n<h3>Don't Keep Testing if the Results are Obvious<\/h3>\n<p>On the other hand, if it's obvious that the system doesn't work, then quit and save your time.<\/p>\n<p>For example, if your strategy has lost 80% of the account, then it's probably time to stop.<\/p>\n<p>There's no way you would continue with that strategy in real life.<\/p>\n<h3>Forcing the Strategy to Work<\/h3>\n<p>People also tend to be too optimistic about a trading strategy.<\/p>\n<p>So they will subconsciously pass on losing trades and only take the winning trades, just to prove that the strategy works.<\/p>\n<p>I was guilty of this when I first started backtesting.<\/p>\n<p>When I reflect back on this, I did this partially because I wanted to get the backtesting process over with (and trade live) and I didn't like being wrong.<\/p>\n<p>I'm not sure why others do it, but those were my reasons. They're very odd reasons in hindsight, because they didn't help me <a href=\"https:\/\/www.tradingheroes.com\/become-successful-trader\/\">become a better trader<\/a>.<\/p>\n<p><strong>But our actions aren't always logical and we need to continually reflect on our behavior to progress.\u00a0<\/strong><\/p>\n<h2>Conclusion<\/h2>\n<p>Although backtesting can be very beneficial, not all strategies can be backtested. Learn more about this limitations of manual backtesting <a href=\"https:\/\/www.tradingheroes.com\/manual-backtesting-limitations\/\">in this blog post<\/a>.<\/p>\n<p><strong>But if you can backtest a strategy, it's a great way to test a trading idea, get hard data and build confidence in your skills.\u00a0<\/strong><\/p>\n<p>This tutorial will give you a good starting point, be sure to read the <a href=\"https:\/\/www.tradingheroes.com\/forex-backtesting-guide\/\">Complete Backtesting Guide<\/a> for more details.<\/p>\n<p>Once a strategy tests well, the <a href=\"https:\/\/www.tradingheroes.com\/forex-forward-testing-guide\/\">Forward Testing Guide<\/a> will show you how to take your trading strategy into the next phase of testing.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MetaTrader 5 is a good automated backtesting platform, but did you know that it&#8217;s also a good manual backtesting option? Learn how to get started with MT5 manual backtesting here.<\/p>\n","protected":false},"author":2022,"featured_media":1019523,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[201630,201007],"tags":[201244,358,201638],"class_list":["post-1019515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-backtesting","category-trading-software-tutorials","tag-forex-backtesting","tag-forex-backtesting-software","tag-metatrader-5-tutorials","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to Do MetaTrader 5 Manual Backtesting - Trading Heroes<\/title>\n<meta name=\"description\" content=\"Learn how to manually backtest on MT5. 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