AlgoWizard is a part of StrategyQuant that allows you to manually create strategy logic. Unlike Builder that generates the strategies for you, AlgoWizard is a tool that transforms your trading ideas into trading algorithms.
AlgoWizard has the capacity to develop, backtest your strategy and then export the source code so that you can upload it to your trading platform or share it.
There are two modes that can be used in AlgoWizard.
⇒ The first is Simple Wizard. It supports simple trading logic, yet enough to let you develop a well performing strategy. A strategy with complex logic is not necessarily the better choice.
⇒ The second mode in AlgoWizard is Full Wizard. It can manage more complex trading logic for the trading rules and conditions. Everything in both Simple and Full Wizard is configurable. You can choose the type of orders you want to open, data precision, timeframe, additional charts, exit rules, etc.
AlgoWizard can evaluate many entry/exit conditions at once. It supports a great variety of different indicators and allows you to create different conditions using them as building blocks. They are structured on the basis of If-Then logic and are evaluated by the system on every tick in the chart.
Full Wizard uses signals to provide a more complex solution to the trading rules of your strategy.
You can save different conditions into variables and use them to create complex entry or exit rules.
AlgoWizard includes configurable money management and trading options settings. You can easily choose between different MM methods (fixed lot size, % of balance amount, % of account amount, fixed amount, etc.). AlgoWizard supports the use of multiple charts. It will only trade on one (the main) chart but can reference multiple other charts to compute different indicators, for example. A variety of trading options is also available. You can set rules to close all positions on Friday, or use time ranges to limit the trades, along with other options.
Once you have your trading logic ready, you can use the backtesting engine of StrategyQuant in AlgoWizard to backtest your strategy.
It supports two variants for the backtest precision.
⇒ The Quick backtesting uses the candles of your timeframe and simulates four ticks for every candle (open, high, low, close). It backtests your strategy using one year of history data and can be set to run automatically every time you modify your strategy.
⇒ The second option is the Full backtest. It runs the backtest on 17 or more years of history data and can be configured to use the higher (1 minute) precision which simulates movements within the candle.
After the backtesting process is completed, AlgoWizard can display detailed results of various parameters or an overall analysis of the strategy performance. You can see detailed statistics of the trades, equity charts and multiple graphics displaying different aspects of the strategy performance.
AlgoWizard is completely compatible with the other tools of StrategyQuant, so you can further manage the strategy, backtest or optimize it. AlgoWizard is a way to automate your trading idea and make it as robust as possible.