# FAQ 🤖BackTester

**Midas Backtester** — this is not an indicator!

This **a bot strategy in TradingView**, which allows you to quickly test your entry and exit conditions with full backtesting and create trading bots from the best combinations.

<figure><img src="/files/e948272bd564e695efed2153514bea7f397abf18" alt=""><figcaption></figcaption></figure>

You define your logic, and as a result you get:

* trades on the chart
* profit / loss
* drawdown
* win rate
* profit factor
* equity curve
* an understanding of whether the strategy works or not
* launch your own trading bot and don't pay commissions

## For whom is this

Midas Backtester is for you if you:

* want to quickly turn trading ideas into a trading algorithm with a bot
* test ideas “by eye” and want to move to numbers
* want to understand whether your strategy works or you're just sometimes lucky
* want to refine Midas logic with your own ideas and test it on historical data
* want to test not only Midas, but also other indicators and trading logic
* want to build a trading bot based on your own logic

## What problem does it solve

Most traders lose money not because they have no ideas, but because they **don't know how to properly test those ideas and trade chaos!**

Usually it looks like this:

* saw a nice entry
* thought the strategy was working
* started trading
* got a losing streak
* didn't understand whether the problem was the market or the logic itself

**Midas Backtester removes the guesswork and** shows how your strategy would have behaved over a long history — with detailed numbers, statistics, and trades on the chart.

## What Midas Backtester gives

**Midas Backtester** — it is a separate powerful layer of the product. Essentially, it is **a flexible builder for a strategy / tester / future bot** right inside TradingView.

{% stepper %}
{% step %}

### Testing any logic on historical data

You can turn almost any idea into a strategy — in Midas Backtester you can configure:

* trading directions - Long / Short / both directions
* up to 6 parallel conditions for Long / Short entries
* flexible exit conditions according to your rule
* take-profit sizes and number of take-profits
* stops or trailing stop
* reversal of the position when an opposite signal is received
  {% endstep %}

{% step %}

### Testing Midas settings

If you trade with Midas, Backtester lets you check:

* add your own conditions to the signals
* test on deep historical data which signals actually produce results
* which filters improve the statistics
* where the strategy breaks down
* which settings are more robust across different markets and timeframes
  {% endstep %}

{% step %}

### Entry into algo-trading

This is your first step toward systematic trading.

First you formalize the logic.\
Then you test it on historical data.\
And only after that do you think about automation.

This is much stronger than trading “by feel”!
{% endstep %}

{% step %}

### Saving time and money

Backtester helps quickly weed out weak ideas before real trading and real losses.

Instead of weeks and months of manual checks you immediately see:

* whether the strategy has an edge
* what the drawdown is
* what losing streaks there are
* how stable the result is
  {% endstep %}
  {% endstepper %}

## What it looks like in practice

{% stepper %}
{% step %}

### Flexible strategy logic setup

You can separately set conditions for Long and Short, combine signals, filters, and entry rules.

<figure><img src="/files/c5cf704a4cd6d0135fe2145eb41fff63042b84ac" alt=""><figcaption></figcaption></figure>

*In the screenshot you can see that in Backtester you can flexibly set up to 6 entry conditions and filters for each Long / Short direction.*
{% endstep %}

{% step %}

### Full statistics on output

Backtester doesn't just draw entries on the chart; it shows the result in numbers: PnL, drawdown, profitable trades, profit factor, and equity curve — everything is calculated by TradingView itself and is as reliable as possible.

<figure><img src="/files/ad81a3bb7a8d933876e91aab60e77d0a0b70ba8e" alt=""><figcaption></figcaption></figure>

*The screenshot shows the test result: a detailed key statistic set with lots of data.*
{% endstep %}

{% step %}

### What is especially valuable

The main thing is that you can test **not someone else's “magic strategy”**&#x62;ut **your own logic**.

-Your rules\
-Your market\
-Your timeframe\
-Your approach\
-Your settings and filters

That is why Backtester is indispensable for those who want to build their own algorithms and turn them into algo-trading with the help of bots.
{% endstep %}
{% endstepper %}

## How to get access

🔥 **At the moment Midas Backtester is not sold as a separate plan.**

Access to it is granted to everyone who subscribes to Midas **for 12 months**.

If you were already planning to use Midas for a long time, subscribe for a year at the best price and get Backtester as a bonus!

**Get access:**\
👉[https://t.me/Midas\_indicator\_bot](https://t.me/Midas_indicator_bot?start=utmsource-tg)

## How to set it up

<details>

<summary>Quick start: how to use Midas Backtester</summary>

### 1. Add Backtester to the chart

Open TradingView and add **Midas Backtester** it as a strategy.

After that it will start displaying trades and statistics on the selected instrument.

### 2. Set up entry and exit logic

Choose:

* trading direction and position reversals

<figure><img src="/files/caa02e92b92cab10d3205dd4889ab7bd524fdea4" alt="" width="401"><figcaption></figcaption></figure>

* Long entry conditions

<figure><img src="/files/618e967b0d40d469f4a7cb3228c0b88928b10d3c" alt="" width="563"><figcaption></figcaption></figure>

* Short entry conditions

<figure><img src="/files/b0bd9df38d54d53ba8ebb42a336e6b81068a566e" alt="" width="419"><figcaption></figcaption></figure>

* additional filters (see the detailed tooltips for each filter)

<figure><img src="/files/454aaa215c10e389c1766833ec75b21464706837" alt="" width="532"><figcaption></figcaption></figure>

* stops (regular stop or trailing)

<figure><img src="/files/d5cdb99ed2d705dbc54af02bad759faf11bff1ff" alt=""><figcaption></figcaption></figure>

* additional indicator-based exit conditions

<figure><img src="/files/d3957f0ae1cc04992527764ec4b07ab4f264e565" alt=""><figcaption></figcaption></figure>

It's best to start with simple logic and then gradually add conditions.

### 3. View the result in statistics

After setup, open the strategy results and look not only at profit.

#### What's the drawdown?

The strategy can be profitable, but too hard psychologically and in terms of risk.

#### Is the result not dependent on a single lucky period?

Test the strategy on different periods and instruments.

#### Are fees and bad entries eating everything up?

Especially important on low timeframes.

### 4. How to test properly

* don't tune the settings to one pretty period
* test different markets and timeframes
* compare several versions of the logic
* look not only at PnL, but also at drawdown
* first test, then real money

</details>


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