Introduction
Pine Script™ strategies simulate the execution of trades on historical and real-time data to facilitate the backtesting and forward testing of trading systems. They include many of the same capabilities as Pine Script™ indicators while providing the ability to place, modify, and cancel hypothetical orders and analyze the results.
When a script uses the strategy() function for its declaration, it gains access to the strategy.* namespace, where it can call functions and variables for simulating orders and accessing essential strategy information. Additionally, the script will display information and simulated results externally in the “Strategy Tester”
Overview
The Overview tab of the Strategy Tester presents essential performance metrics and equity and drawdown curves over a simulated sequence of trades, providing a quick look at strategy performance without diving into granular detail. The chart in this section shows the strategy’s equity curve as a baseline plot centered at the initial value, the buy and hold equity curve as a line plot, and the drawdown curve as a histogram plot. Users can toggle these plots and scale them as absolute values or percentages using the options below the chart.
Performance summary
The Performance Summary tab of the module presents a comprehensive overview of a strategy’s performance metrics. It displays three columns: one for all trades, one for all longs, and one for all shorts, to provide traders with more detailed insights on a strategy’s long, short, and overall simulated trading performance.
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