GettingStarted_MS10.1x.book Page 33 Tuesday, February 26, 2008 2:52 PM
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Power Tools
Overview MetaStock offers a set of Power Tools that make the most of MetaStock’s number-crunching power. The Power Tools are: • The Enhanced System Tester • The Explorer • The Expert Advisor • The Indicator Builder They’re called Power Tools for a reason. They do a lot of work for you and generate lots of information you can use to make more informed decisions. This chapter introduces you to the general idea and purpose behind each Power Tool, and walks you through a simple tutorial for each one. When you’re ready to roll up your sleeves and get into some serious backtesting and writing your own formulas, consult the MetaStock User Guide and the online help system. These contain more detailed information to help you on your way.
The Enhanced System Tester System testing involves the development and testing of trading systems to determine the systems’ historical profitability. System testing helps to answer the question, “If I had traded this security using these trading rules, how successful would I have been?” The Enhanced System Tester also shows you which securities work well with which systems. MetaStock comes with dozens of ready-made systems you can use to backtest against securities. With the Enhanced System Tester, you can: • Test one system on one security • Test many systems on one security • Test one system on many securities • Test many systems on many securities The following tutorial shows you how to test many systems on many securities. It’s pretty easy once you know how, and the other scenarios described above are even easier by comparison.
Getting Started with MetaStock 10.1-x
Power Tools • 33