Topic: Export the Strategy as a Custom Indicator
This new feature in Forex Strategy Builder can be useful in testing multicurrency and multiperiod strategies.
The idea is that we prepare a strategy and after that we export its signals to a static external filter.
Latter we can use this filter in other strategies. The principle is to trade in the direction of the initial strategy. We achieve that by a single click on the command “Export the Strategy as a Custom Indicator”. It is situated in the Tools Menu -> Custom Indicators.
Example:
Initial Strategy on EURUSD 1D:
I’ll use this strategy to determine the general trend of EURUSD. I assume that when the strategy opens long position – an uptrend exist and vice versa: when the strategy trades short – there is a downtrend. We see on the Journal that on April 24th and 27th there are short positions and on May 8th – long.
We export this strategy by pressing the command “Export the Strategy as a Custom Indicator” and save is as “EURUSD Trend”.
This command will save the strategy as a Custom Indicator and will load it instantly. The new indicator can be found out in the indicator list. It can be used as an “Opening Logic condition”.
I’ll use it as filter in a USDCHF 4H strategy.
Since I use EURUSD filter in USDCHF – I have to check the “Reversed signals” options because the currency pairs are opposite.
I can see on the chart that there is a short trade on May 8th (Because the “Reversed signals” option).
It’s important to say that the exported strategy gives “static” signals. They are written in the indicator’s file and are unchangeable.
See more details on the online help Export the Strategy as a Custom Indicator
