Backtesting a TOS strategy?
- Thread starter rbark3r
- Start date
Solution
You can try this, will have to remove the commission piece most likely. Should be able to paste in the TOS report, just clear out those columns before doing so. If nothing else, might give you a start to play around with to get it where you want.
Futures Strat Report (xls)
Futures Strat Report (xls)
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I was able to use the link. Thanks.
Do you know if there is a performance report similar to tradingview strategy tester.
For example how would you rank a barebone strategy backtested using 5 minutes timeframes for 180 days 800 trades 1 mnq contract 60 percent win rate 25k total
Mel Leatherman
New member
Can one backtest using a strategy that does not execute any trades on the chart?
I use the following code. Place this after your study and just define what the buy and sell conditions are, set the parameters, and you should be good.
Code:
###------------------------------------------------------------------------------------------
# Profit and Loss Labels
#
# Fill in the 0>0 in the Create Signals section below to match your buy and sell signal conditions
#
# When using large amounts of hisorical data, P/L may take time to calculate
###------------------------------------------------------------------------------------------
input showSignals = yes; #hint showSignals: show buy and sell arrows
input LongTrades = yes; #hint LongTrades: perform long trades
input ShortTrades = yes; #hint ShortTrades: perform short trades
input showLabels = yes; #hint showLabels: show PL labels at top
input showBubbles = yes; #hint showBubbles: show PL bubbles at close of trade
input useStops = no; #hint useStops: use stop orders
input useAlerts = no; #hint useAlerts: use alerts on signals
input tradeDaytimeOnly = no; #hint tradeDaytimeOnly: (IntraDay Only) Only perform trades during hours stated
input OpenTime = 0930; #hint OpenTime: Opening time of market
input CloseTime = 1600; #hint CloseTime: Closing time of market
input UseFuturesFees = no; #hint UseFutureFees: $6 round-trip
def Begin = secondsfromTime(OpenTime);
def End = secondsTillTime(closetime);
# Only use market hours when using intraday timeframe
def isIntraDay = if getaggregationperiod() > 14400000 or getaggregationperiod()==0 then 0 else 1;
def MarketOpen = if !tradeDaytimeOnly or !isIntraDay then 1 else if tradeDaytimeOnly and isIntraDay and Begin > 0 and End > 0 then 1 else 0;
###------------------------------------------------------------------------------------------
######################################################
## Create Signals -
## FILL IN THIS SECTION
## replace 0>0 with your conditions for signals
######################################################
def PLBuySignal = if MarketOpen AND (0>0) then 1 else 0 ; # insert condition to create long position in place of the 0>0
def PLSellSignal = if MarketOpen AND (0>0) then 1 else 0; # insert condition to create short position in place of the 0>0
def PLBuyStop = if !useStops then 0 else if (0>0) then 1 else 0 ; # insert condition to stop in place of the 0<0
def PLSellStop = if !useStops then 0 else if (0>0) then 1 else 0 ; # insert condition to stop in place of the 0>0
def PLMktStop = if MarketOpen[-1] == 0 then 1 else 0; # If tradeDaytimeOnly is set, then stop at end of day
#######################################
## Maintain the position of trades
#######################################
def CurrentPosition; # holds whether flat = 0 long = 1 short = -1
if (BarNumber()==1) OR isNaN(CurrentPosition[1]) {
CurrentPosition = 0;
}else{
if CurrentPosition[1] == 0 { # FLAT
if (PLBuySignal AND LongTrades) {
CurrentPosition = 1;
} else if (PLSellSignal AND ShortTrades){
CurrentPosition = -1;
} else {
CurrentPosition = CurrentPosition[1];
}
} else if CurrentPosition[1] == 1 { # LONG
if (PLSellSignal AND ShortTrades){
CurrentPosition = -1;
} else if ((PLBuyStop and useStops) or PLMktStop or (PLSellSignal AND ShortTrades==0)){
CurrentPosition = 0;
} else {
CurrentPosition = CurrentPosition[1];
}
} else if CurrentPosition[1] == -1 { # SHORT
if (PLBuySignal AND LongTrades){
CurrentPosition = 1;
} else if ((PLSellStop and useStops) or PLMktStop or (PlBuySignal and LongTrades==0)){
CurrentPosition = 0;
} else {
CurrentPosition = CurrentPosition[1];
}
} else {
CurrentPosition = CurrentPosition[1];
}
}
def isLong = if CurrentPosition == 1 then 1 else 0;
def isShort = if CurrentPosition == -1 then 1 else 0;
def isFlat = if CurrentPosition == 0 then 1 else 0;
# If not already long and get a PLBuySignal
#Plot BuySig = if (!isLong[1] and PLBuySignal and showSignals and LongTrades) then 1 else 0;
Plot BuySig = if (((isShort[1] and LongTrades) or (isFlat[1] and LongTrades)) and PLBuySignal and showSignals) then 1 else 0;
BuySig.AssignValueColor(color.cyan);
BuySig.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
BuySig.SetLineWeight(5);
Alert(BuySig and useAlerts, "Buy Signal",Alert.bar,sound.Ding);
Alert(BuySig and useAlerts, "Buy Signal",Alert.bar,sound.Ding);
# If not already short and get a PLSellSignal
Plot SellSig = if (((isLong[1] and ShortTrades) or (isFlat[1] and ShortTrades)) and PLSellSignal and showSignals) then 1 else 0;
SellSig.AssignValueColor(color.cyan);
SellSig.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
SellSig.SetLineWeight(5);
Alert(SellSig and useAlerts, "Sell Signal",Alert.bar,sound.Ding);
Alert(SellSig and useAlerts, "Sell Signal",Alert.bar,sound.Ding);
# If long and get a PLBuyStop
Plot BuyStpSig = if (PLBuyStop and isLong[1] and showSignals and useStops) or (isLong[1] and PLMktStop) or (isLong[1] and PLSellSignal and !ShortTrades) then 1 else 0;
BuyStpSig.AssignValueColor(color.light_gray);
BuyStpSig.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_DOWN);
BuyStpSig.SetLineWeight(3);
Alert(BuyStpSig and useAlerts, "Buy Stop Signal",Alert.bar,sound.Ding);
Alert(BuyStpSig and useAlerts, "Buy Stop Signal",Alert.bar,sound.Ding);
# If short and get a PLSellStop
Plot SellStpSig = if (PLSellStop and isShort[1] and showSignals and useStops) or (isShort[1] and PLMktStop) or (isShort[1] and PLBuySignal and !LongTrades) then 1 else 0;
SellStpSig.AssignValueColor(color.light_gray);
SellStpSig.SetPaintingStrategy(PaintingStrategy.BOOLEAN_ARROW_UP);
SellStpSig.SetLineWeight(3);
Alert(SellStpSig and useAlerts, "Sell Stop Signal",Alert.bar,sound.Ding);
Alert(SellStpSig and useAlerts, "Sell Stop Signal",Alert.bar,sound.Ding);
#######################################
## Orders
#######################################
def isOrder = if ((isFlat[1] and (BuySig and LongTrades) or (SellSig and ShortTrades)) or (isLong[1] and BuyStpSig or (SellSig and ShortTrades)) or (isShort[1] and SellStpSig or (BuySig and LongTrades))) then 1 else 0 ;
def orderPrice = if (isOrder and ((BuySig and LongTrades) or (SellSig and ShortTrades))) then (if isNan(open[-1]) then close else open[-1]) else orderPrice[1];
plot OPL = if !isFlat and isLong then orderPrice else double.Nan;
OPL.AssignValueColor(color.green);
OPL.SetPaintingStrategy(PaintingStrategy.lINE);
OPL.SetStyle(Curve.SHORT_DASH);
OPL.SetLineWeight(1);
plot OPS = if !isFlat and isShort then orderPrice else double.Nan;
OPS.AssignValueColor(color.red);
OPS.SetPaintingStrategy(PaintingStrategy.lINE);
OPS.SetStyle(Curve.SHORT_DASH);
OPS.SetLineWeight(1);
def orderCount = compoundValue(1,if isNan(isOrder) or barnumber()==1 then 0 else if (BuySig or SellSig) then orderCount[1]+1 else orderCount[1],0);
#######################################
## Price and Profit
#######################################
def profitLoss;
if (!isOrder or orderPRice[1]==0){
profitLoss = 0;
} else if ((isOrder and isLong[1]) and (SellSig or BuyStpSig)){
profitLoss = (if isNan(open[-1]) then close else open[-1]) - orderPrice[1];
} else if ((isOrder and isShort[1]) and (BuySig or SellStpSig)) {
profitLoss = orderPrice[1] - (if isNan(open[-1]) then close else open[-1]);
} else {
profitLoss = 0;
}
# Total Profit or Loss
def profitLossSum = compoundValue(1, if isNaN(isOrder) or barnumber()==1 then 0 else if isOrder then profitLossSum[1] + profitLoss else profitLossSum[1], 0);
# How many trades won or lost
def profitWinners = compoundValue(1, if isNaN(profitWinners[1]) or barnumber()==1 then 0 else if isOrder and profitLoss > 0 then profitWinners[1] + 1 else profitWinners[1], 0);
def profitLosers = compoundValue(1, if isNaN(profitLosers[1]) or barnumber()==1 then 0 else if isOrder and profitLoss < 0 then profitLosers[1] + 1 else profitLosers[1], 0);
def profitPush = compoundValue(1, if isNaN(profitPush[1]) or barnumber()==1 then 0 else if isOrder and profitLoss == 0 then profitPush[1] + 1 else profitPush[1], 0);
# Current Open Trade Profit or Loss
def TradePL = If isLong then Round(((close - orderprice)/TickSize())*TickValue()) else if isShort then Round(((orderPrice - close)/TickSize())*TickValue()) else 0;
# Convert to actual dollars based on Tick Value for bubbles
def dollarProfitLoss = if orderPRice[1]==0 or isNaN(orderPrice[1]) then 0 else round((profitLoss/Ticksize())*Tickvalue());
# Closed Orders dollar P/L
def dollarPLSum = round((profitLossSum/Ticksize())*Tickvalue());
# Split profits or losses by long and short trades
def profitLong = compoundValue(1, if isNan(profitLong[1]) or barnumber()==1 then 0 else if isOrder and isLong[1] then profitLong[1]+dollarProfitLoss else profitLong[1],0);
def profitShort = compoundValue(1, if isNan(profitShort[1]) or barnumber()==1 then 0 else if isOrder and isShort[1] then profitShort[1]+dollarProfitLoss else profitShort[1],0);
def countLong = compoundValue(1, if isNaN(countLong[1]) or barnumber()==1 then 0 else if isOrder and isLong[1] then countLong[1]+1 else countLong[1],0);
def countShort = compoundValue(1, if isNaN(countShort[1]) or barnumber()==1 then 0 else if isOrder and isShort[1] then countShort[1]+1 else countShort[1],0);
# What was the biggest winning and losing trade
def biggestWin = compoundValue(1, if isNaN(biggestWin[1]) or barnumber()==1 then 0 else if isOrder and (dollarProfitLoss > 0) and (dollarProfitLoss > biggestWin[1]) then dollarProfitLoss else biggestWin[1], 0);
def biggestLoss = compoundValue(1, if isNaN(biggestLoss[1]) or barnumber()==1 then 0 else if isOrder and (dollarProfitLoss < 0) and (dollarProfitLoss < biggestLoss[1]) then dollarProfitLoss else biggestLoss[1], 0);
def ClosedTradeCount = if (isLong or isShort) then orderCount-1 else orderCount;
def OpenTrades = if (isLong or isShort) then 1 else 0;
def FuturesCommission = 6*ClosedTradeCount;
# What percent were winners
def PCTWin = if (OpenTrades and (TradePL < 0)) then round((profitWinners/(ClosedTradeCount+1))*100,2)
else if (OpenTrades and (TradePL > 0)) then round(((profitWinners+1)/(ClosedTradeCount+1))*100,2) else round(((profitWinners)/(ClosedTradeCount))*100,2) ;
# Average trade
def avgTrade = if (OpenTrades and (TradePL < 0)) then round(((dollarPLSum - TradePL)/(ClosedTradeCount+1)),2)
else if (OpenTrades and (TradePL > 0)) then round(((dollarPLSum + TradePL)/(ClosedTradeCount+1)),2) else round(((dollarPLSum)/(ClosedTradeCount)),2) ;
#######################################
## Create Labels
#######################################
AddLabel(showLabels and isIntraDay, if MarketOpen then "Market Open" else "Market Closed", color.white);
AddLabel(showLabels, GetSymbol()+" Tick Size: "+TickSize()+" Value: "+TickValue(), color.white);
AddLabel(showLabels and (LongTrades and ShortTrades), "Long+Short Trades", color.white);
AddLabel(showLabels and (LongTrades and !ShortTrades),"Long Trades Only", color.white);
AddLabel(showLabels and (!LongTrades and ShortTrades),"Short Trades Only", color.white);
AddLabel(showLabels and (tradeDaytimeOnly),"Daytime Only", color.white);
AddLabel(showLabels and (UseFuturesFees),"Future Fees Incl", color.white);
AddLabel(showLabels, "Closed Orders: " + ClosedTradeCount + " P/L: " + AsDollars(dollarPLSum - if UseFuturesFees then FuturesCommission else 0), if dollarPLSum > 0 then Color.GREEN else if dollarPLSum< 0 then Color.RED else Color.GRAY);
AddLabel(if !IsNan(orderPrice) and showLabels then 1 else 0, "Closed+Open P/L: "+ AsDollars(TradePL+dollarPLSum - if UseFuturesFees then FuturesCommission else 0), if ((TradePL+dollarPLSum) > 0) then color.green else if ((TradePL+dollarPLSum - if UseFuturesFees then FuturesCommission else 0) < 0) then color.red else color.gray);
AddLabel(showLabels, "Avg per Trade: "+ AsDollars(avgTrade - if UseFuturesFees then 6 else 0), if avgTrade > 0 then Color.Green else if avgTrade < 0 then Color.RED else Color.GRAY);
AddLabel(showLabels, "Winners: "+ PCTWin +"%",if PCTWin > 50 then color.green else if PCTWin > 40 then color.yellow else color.gray);
AddLabel(showLabels, "MaxUp: "+ AsDollars(biggestWin) +" MaxDown: "+AsDollars(biggestLoss), color.white);
AddLabel(showLabels, "Long Profit: " +AsDollars(profitLong), if profitLong > 0 then color.green else if profitLong < 0 then color.red else color.gray);
AddLabel(showLabels, "Short Profit: " +AsDollars(profitShort), if profitShort > 0 then color.green else if profitShort < 0 then color.red else color.gray);
AddLabel(if !IsNan(CurrentPosition) and showLabels and OpenTrades then 1 else 0, "Open: "+ (If isLong then "Bought" else "Sold") + " @ "+orderPrice, color.white);
AddLabel(if !IsNan(orderPrice) and showLabels and OpenTrades then 1 else 0, "Open Trade P/L: "+ AsDollars(TradePL), if (TradePL > 0) then color.green else if (TradePl < 0) then color.red else color.gray);
#######################################
## Chart Bubbles for Profit/Loss
#######################################
AddChartBubble(showSignals and showBubbles and isOrder and isLong[1], low, "$"+dollarProfitLoss, if dollarProfitLoss == 0 then Color.LIGHT_GRAY else if dollarProfitLoss > 0 then Color.GREEN else color.Red, 0);
AddChartBubble(showSignals and showBubbles and isOrder and isShort[1], high, "$"+dollarProfitLoss, if dollarProfitLoss == 0 then Color.LIGHT_GRAY else if dollarProfitLoss > 0 then Color.GREEN else color.Red, 1);
#AssignPriceColor(if CurrentPosition == 1 then color.green else if CurrentPosition == -1 then color.red else color.gray);You must always be aware when backtesting not just to be curve fitting. Basically, finding what worked the best based on past data, but not necessarily what will work in the future. One unusual move one way or the other in the past might make overall results look great, but the rest of the time could be a relative disaster.
Last edited by a moderator:
Mel Leatherman
New member
The question is really about the strategy report from backtesting. I have tried many strategies yielding a strategy report but if I use a simple strategy that does not take any trades or does give a strategy report how do I learn anything? I am really new at this. Thanks for being patient.
Thank you JoeDV. I do not know enough to implement your suggestions but I will try.
Last edited by a moderator:
@JoeDV is correct. Overall results from ToS backtesting has no real meaning.
Real backtesting done by Backtesting Vendors, requires 10-15 years of data. With a broad testing field of instruments.
ToS Backtesting provides theoretical trades on a chart that simulate your buy/sell filters. While it's not the same as executing actual orders, backtesting can still be a valuable tool for refining your trading strategies and identifying potential opportunities in the markets.
ToS Backtesting is helpful to fine-tune your entry-exit logic of your strategy.
More thoughts on backtesting:
https://usethinkscript.com/threads/is-it-possible-to-get-70-80-accuracy.13616/
Real backtesting done by Backtesting Vendors, requires 10-15 years of data. With a broad testing field of instruments.
ToS Backtesting provides theoretical trades on a chart that simulate your buy/sell filters. While it's not the same as executing actual orders, backtesting can still be a valuable tool for refining your trading strategies and identifying potential opportunities in the markets.
ToS Backtesting is helpful to fine-tune your entry-exit logic of your strategy.
More thoughts on backtesting:
https://usethinkscript.com/threads/is-it-possible-to-get-70-80-accuracy.13616/
Last edited:
This script works well though it is not in sync (the first few trades are not registered when the conditions are true) with the floating PNL and strategy report. (on large dataset)
This condition may be the culprit (barnumber,,,)
if (BarNumber()==1) OR isNaN(CurrentPosition[1]) {
CurrentPosition = 0;
}else{
Do you have a specific strategy you want to implement with that script?
I agree that the more data the strategy is tested with the better nevertheless the limited back testing available in Tos can provide somewhat of an indication about the potential profitability of the indicator since i am assuming that if an indicator does not do well with small set of data it will most likely would not be better with a large set of data.
Most of the buy/sell indicators posted are lacking a Tos strategy with backtesting results.
I have converted many of the posted indicators to a strategy to find they perform poorly using the largest dataset Tos provide.
Would you or anyone can point out a few indicators/strategy with backtesting that performs well in your opinion?
I am not looking for the holy grail strategy or indicator and am very well aware of the random walk of life. I only wanted to have an idea what is considered a "good" performance so I can compare it to the results I'm getting on the strategy I am working on.
Please point me to a strategy available on this site that I can use as a point of reference to strive for.
For example, would a scalper strategy simulated 500 trades on the MNQ in 5 min timeframe, 180 days using 1 contract performing around 10k considered to be "good"?
I used the principles advocated to develop the strategy i posted.(link below)
I know it can be improved and was wondering for the purpose of constructive feedback if there are any assembled thinkscript strategy threads on this site with a similar or preferable better backtesting results.
https://usethinkscript.com/threads/...trend-ver2-chart-setup-for-thinkorswim.14658/
Last edited by a moderator:
TraderJane
New member
I know I am new here and most probably may feel that I do not have the time invested to request such a thing, but I believe it would be amazing to have a forum that is based off of success and failure to help us all see what is working for different strategies and how they are applied.
Also, it would be great to have a video section for those that would like to share their experience through video.
Thanks Jane
Also, it would be great to have a video section for those that would like to share their experience through video.
Thanks Jane
Last edited by a moderator:
@Ramisegal @TraderJane
@Griffin_Investments
In the Strategies & Chart Setup Forums, you will find backtested strategies that provide P&L results.
Looking for threads where members discuss how they use their indicators?
Here are the threads on the forum sorted by most popular. You will find hundreds of pages where members discuss what is working and how they are applied.
https://usethinkscript.com/threads/...indicators-tutorials-on-usethinkscript.14566/
Yes, videos can be found: https://www.youtube.com/@useThinkScript
No, a success forum would not be appropriate.
read more:
Indicators cannot be used blindly.
No single indicator with a buy arrow succeeds across all instruments, nor on all timeframes, nor in all market conditions.
Indicators only indicate.
You need to combine them into a comprehensive strategy and even then, experienced traders know that there is no Holy Grail.
The market is influenced by multiple factors, including fundamental news, economic data, geopolitical events, and investor sentiment. Ignoring these factors and relying solely on buy / sell signals overlooks critical information that significantly affects profits.
Strategies that advertise Trending Indicator with xx% Win Rates! are a fallacy.
Majority of the time, a group of indicators can't and shouldn't line up perfectly on one candle to conveniently say "buy now".
Many strategies with these types of arrows will be found to contain repainting or collinear indicators.
Better Approach:
Scalpers (trading on 5min and below charts) eschew indicators in favor of price action:
https://usethinkscript.com/threads/price-action-toolbox-for-thinkorswim.10747/
Daytraders
~ Trade on their 3 timeframes
https://usethinkscript.com/threads/...ay-trading-for-thinkorswim.12209/#post-104699
~ Research all instruments before trading. We are deep into a bear market; many equities are correcting and would not make the best tradable candidates.
~ Analyze charts with a basic sound strategy:
https://usethinkscript.com/threads/basics-for-developing-a-good-strategy.8058/
Join us on the VIP discord channel, where we discuss our trades:
https://usethinkscript.com/p/get-vip/
@Griffin_Investments
In the Strategies & Chart Setup Forums, you will find backtested strategies that provide P&L results.
Looking for threads where members discuss how they use their indicators?
Here are the threads on the forum sorted by most popular. You will find hundreds of pages where members discuss what is working and how they are applied.
https://usethinkscript.com/threads/...indicators-tutorials-on-usethinkscript.14566/
Yes, videos can be found: https://www.youtube.com/@useThinkScript
No, a success forum would not be appropriate.
read more:
Indicators cannot be used blindly.
No single indicator with a buy arrow succeeds across all instruments, nor on all timeframes, nor in all market conditions.
Indicators only indicate.
You need to combine them into a comprehensive strategy and even then, experienced traders know that there is no Holy Grail.
The market is influenced by multiple factors, including fundamental news, economic data, geopolitical events, and investor sentiment. Ignoring these factors and relying solely on buy / sell signals overlooks critical information that significantly affects profits.
Strategies that advertise Trending Indicator with xx% Win Rates! are a fallacy.
Majority of the time, a group of indicators can't and shouldn't line up perfectly on one candle to conveniently say "buy now".
Many strategies with these types of arrows will be found to contain repainting or collinear indicators.
Better Approach:
Scalpers (trading on 5min and below charts) eschew indicators in favor of price action:
https://usethinkscript.com/threads/price-action-toolbox-for-thinkorswim.10747/
Daytraders
~ Trade on their 3 timeframes
https://usethinkscript.com/threads/...ay-trading-for-thinkorswim.12209/#post-104699
~ Research all instruments before trading. We are deep into a bear market; many equities are correcting and would not make the best tradable candidates.
~ Analyze charts with a basic sound strategy:
https://usethinkscript.com/threads/basics-for-developing-a-good-strategy.8058/
Join us on the VIP discord channel, where we discuss our trades:
https://usethinkscript.com/p/get-vip/
Last edited:
tomlinson10
New member
Buy & hold.. If you bought 1 share of SPX on 1/2/1962 at the open (71.55) it would be worth 4154.87 on 4/18/2023 close. This is a 5700% gain. The duration was just over 61 years.
If I backtest a simple trend-following strategy, how would you mathematically compare the results to buy & hold? I have one I think is pretty good. Since 1/2/1962 it's had 429 trades with an average holding time of 21 days, and I'm having a hard time making an apples-to-apples comparison, in order to determine if it beats buy & hold.
If anyone has any insight or experience in this area, I would sure appreciate the help.
If I backtest a simple trend-following strategy, how would you mathematically compare the results to buy & hold? I have one I think is pretty good. Since 1/2/1962 it's had 429 trades with an average holding time of 21 days, and I'm having a hard time making an apples-to-apples comparison, in order to determine if it beats buy & hold.
If anyone has any insight or experience in this area, I would sure appreciate the help.
The ToS platform cannot provide the data to answer your question.
There are outside backtesting services that you could search out for that information.
reply to post14
compare (in excel) by finding common units,
calculate a yearly interest rate ,
i think your first ex. comes out to about 7% / year...
https://www.annuityexpertadvice.com/calculator/interest-rate-calculator/
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