TrendSpider makes it easy to visualize how a strategy performs on a given chart by painting entry and exit arrows onto the chart. This is done automatically as long as you have your Strategy Explorer widget open.
The downside of this approach is that it won’t give you much information about how your strategy behaved on a larger scale.
For example, on this chart above you can see that:
- Some positions seem to exit fast and lose money. You might want to search for a way to avoid that, such as by modifying your Stop Loss level or overall Exit condition. You might think of reworking the Entry condition as well, as these entries do not look very promising.
- Sometimes you exit too late, missing the highest points. You might want to revisit your Exit condition to identify better spots.
Visualizing entry and exit on your chart is a good first step for learning more about your strategy, but there are some much more powerful tools available.