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Forex Tester Indicators: Step-by-Step Installation

High-quality testing requires the correct operation of all elements of a trading strategy. The Forex Tester software interface offers a wide range of standard tools and the ability to use custom scripts and FT4 indicators. Let’s recall how to connect and use them.

3/5/2020 10:00:00 PM

How to Install Additional Indicators in Forex Tester 4

We assume that you have already installed Forex Tester software and gained practical experience in using technical indicators and the FT4 programming service (you can download this package here).

Just note that Forex Tester was chosen as an example for creating the MetaTrader 4® interface. So, the general mechanism for working with indicators is familiar to most of us. Let us dwell only on the main points.

ForexTester 4 with Different Types of Indicators

ForexTester 4 with Different Types of Indicators

Step 1

We remind you: in the structure of the Forex Tester software, the location of the files you need is the following:

  • indicators in format * .dll (or* .mq4) − \\...\ForexTester4\Indicators\

  • scripts in format * .scr − \\...\ForexTester4\Scripts\

  • user interface templates in format * .tem − \...\ForexTester4\Templates\.

Files of non-standard or independently created indicators, scripts, and templates are copied to the same directories. Strategy files for testing (also in format * .dll) are located in the \\...\ForexTester4\Strategies\directory\.

Let’s take a closer look at the process of setting FT4 indicators.

Step 2

The most common is the use of the corresponding option in the Control Panel (toolbar). Standard indicators are grouped according to the information processing method. We proceed as follows:

Install FT4 Indicators via the Control Panel

Install FT4 Indicators via the Control Panel

Another way is to select the "Add indicator" option from the "Insert" menu and then proceed according to the usual scheme:

Installing Indicators in ForexTester 4: Option 2

Installing Indicators in ForexTester 4: Option 2

To our mind, the most convenient way is to right-click on the price chart and then select the desired indicator:

Installing Indicators in ForexTester 4: Option 3

Installing Indicators in ForexTester 4: Option 3

Let’s move on.

Step 3

After being selected from the menu and set the required parameters, the indicator is connected to the price chart. It means that the indicator can be used right away to analyze the market and make trading decisions. Further fine-tuning of the parameters might be done later.

Note! By default, each indicator in the Forex Tester applies to only one (current) period. You won't see it on the other timeframes. This condition is used to optimize testing and speed up the process. You can connect the indicator to several periods using the "Time frames" set only at the first installation by noting the required options.

You can apply a different set of indicators to each timeframe and manage the list through a select menu:

Indicator Management in ForexTester 4

Indicator Management in ForexTester 4

To change the settings of the indicator on a chart, right-click on it. In the menu, you either select the option "Edit ..." or remove the indicator from the current chart ("Delete ...").

You can manage all indicators on all charts and timeframes using the "List of Indicators" button on the taskbar.

Management of Indicator Properties in ForexTester 4

Management of Indicator Properties in ForexTester 4

Step 4

Non-standard indicators in Forex Tester are a separate topic.

Together with the software, the company provides several dozen of complex tools that don't belong to ordinary groups. FT4 custom indicators are installed in the usual way:

FT4 Custom Indicators

FT4 Custom Indicators

You can download the FT4 indicator in *.mq4 format.

However, be aware that the syntax of the internal programming language Forex Tester4 and MetaTrader 4® does not match. Forex Tester and FT4 programming services offer MT4® to FT4 Converter, but its development is still ongoing, and it might take some time to finish it. However, it does cover certain types of indicators and strategies for conversion.

If your indicator/strategy contains too many custom elements, it may need more time to convert it. In some cases, Forex Tester won’t be able to convert them at all.

Loading Third-party Indicators in ForexTester 4

Loading Third-party Indicators in ForexTester 4

The standard Forex Tester package has enough effective indicators. However, if you need something original, you can create it yourself either by buying an FT4 indicator or by hiring a programmer. Do you need detailed information? Find it here.

Custom indicators in *.dll format can be installed via the menu "File" −> "Install" −> "Install indicator." Indicators in * .mql format will at first be converted to * .dll. To do this, select the desired * .mq4 file on your computer. Confirm that you agree to send the file to the programmers of the server in the "MQL4® Conversion" window. Click the "Convert" button.

Rest is assured, files are transferred in a protected mode, and the source code is not transferred to third parties. After a successful conversion, the source file is deleted.

In case of a successful conversion, we get the message: "The indicator is set." After import, you will find your indicators in the menu "Insert" −> "Add indicator" −> "Custom."

If an error occurs during the conversion, the program will offer to contact the developers by email to send the strategy/indicator/script file for manual FT4 programming.

Step 5

The parameters of indicators and the workspace can be saved in a separate file.

After you have specified the necessary settings, select the option "Templates." Then press "Save" and specify the name of the template. To load previously saved settings, click "Templates" −> "Download" and select the desired scheme.

Templates Desktop Interface ForexTester 4

Templates Desktop Interface ForexTester 4

What Is the Result?

Checking technical and trade ideas is the main task of the Forex Tester software.

Still, for the technical indicator information to be used for the trade solution, you must fully trust the results of the tests. Therefore, the ability to program indicators and scripts, as well as their working functionality, is constantly being improved. The problem of incompatibility with the popular * .mq4 format will be minimized shortly.

We hope that our step-by-step guide will help you set the necessary indicators for your trading.

If you are interested in a custom indicator, you can order it here. A ready-made form will help you not to forget important aspects of your technical specification.

If you still have questions, feel free to ask them in the comments below.

Trade in your universe. Test in Forex Tester

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