Backtesting in Metastock

[wysinawyg]

Currently thinking of taking the plunge and going for Metastock EoD paired up with the Paritech futures feed. Only thing is I am just not sure how sophisticated the language for backtesting is and would appreciate some feedback.

What I am looking for is something to backtest what are probably quite simple strategies and give me a list of trades with results that I can then dump into excel to do portfolio analysis. Does Metastock do this?

On a more specific note, I am quite keen to look at strategies trying to trade off of swing lows/highs. Is Metastock fine for entering on limits the next day and remembering the low/high of the bar prior to the entry bar for working out your exit (i.e. get a swing low, go long on a limit at a break of the high of the swing low with a stop at the low of the swing low and a separate profit target).

Going forward with a system what kind of feedback do you get for when signals are triggered? If I'm running it after closing for the system suggested above can I get a report telling me if the criteria have been met for a limit order to be entered the next day?

Any other limitations anyone can think of?

Anyone offering free trials?

Thanks,

wysi

 

[Glenn]

300+ free examples of use of Metastock language at
www.guppytraders.com/Metastock Formulas/formula index.htm

Metstocks own formula collection is at
www.equis.com/Support/Formulae.aspx


Sample instructions from Metstock Help:
"1. With the System Tester dialog displayed, click the New button.

The System Editor dialog has text entry boxes for the system's name, notes, and rules. The four rules define when you want to enter/close long and short positions.
2. Enter the system name, "My First System" (do not enter the quotation marks in this or the remaining examples).
3. Click the Enter Long tab and enter the following trading rule for entering a long position:

cross(close, mov(close,25,simple))

The preceding rule, as with most trading rules in MetaStock, can be read in English. It says, "Enter long when the close crosses above a 25-period simple moving average of the close." (As with custom indicators, you can abbreviate "close" to "c" and "simple" to "s".)

Trading rules (see The System Editor Dialog) are very similar to custom indicators (see What is the Indicator Builder?).

4. Enter the following information for the three remaining trading rules. Remember to click on the corresponding tabs (i.e., Close Long, Enter Short, and Close Short) to enter each of the rules.

Close Long: cross(mov(close,25,simple),close)
Enter Short: cross(mov(close,25,simple),close)
Close Short: cross(close,mov(close,25,simple))
5. When the four trading rules have been entered correctly, click the OK button.

If a syntax error exists in your trading rules, a message explaining the error will appear. Click the OK button to acknowledge the error. The System Editor will reappear with the cursor placed at the position where the error exists. You should then correct the error and reselect OK. "

Should keep you busy for a while
Good luck
Glenn

 

[wysinawyg]

Cheers Glenn,

Definitely covered off that the language looks good enough and at a reasonable level for me

Just waiting for Paritech to confirm if it gives trade by trade results that can be put into excel and if they'll do me a deal for taking the data and the package off their hands.

wysi