™TradeChartist PowerTracer Pro Backtester is the strategy script for backtesting ™TradeChartist PowerTracer Pro for best performance settings which can then be used with ™TradeChartist PowerTrader Pro to plot Trades emulating the backtester and use Alerts (once per bar) on real time price chart.
PowerTracer Backtester includes the following options in the settings.
PowerTracer setting - Power Plot Type - (PowerTracer, Bar-wise Power Holder)
PowerTracer setting - Timeframe Multiplier
PowerTracer setting - Smoothing Factor
Backtester setting - Trade Direction - (Both Longs and Shorts, Only Longs, Only Shorts)
Backtester setting - Reference for Trailing SL (Close, High/Low)
Backtester setting - Stop Loss %
Backtester setting - Take Profit %
Backtester setting - Quantity to trade at TP %
Using combinations of the settings, the user can find optimal settings for the asset to deliver lucrative entry and exit signals with high ROI and minimal Drawdown which can then be used on PowerTracer Pro and PowerTrader Pro to plot signals and create alerts to start trading in real-time.