Bar Magnifier on Open Close Orders

Strategy is applied to Daily Bars.
Entries are of the type "buy next bar open"
Exits are of the type "sell this bar close"

In general would I need to use the Bar Magnifier or IntraBar feature if order activity does not occur on intrabar data?

Strategy is applied to Daily Bars.
Entries are of the type "buy next bar open"
Exits are of the type "sell this bar close"

In general would I need to use the Bar Magnifier or IntraBar feature if order activity does not occur on intrabar data?

You already have the answer -- if you do not use intrabar orders, you do not need intrabar services.

ps.

re: this bar close
see post #7
viewtopic.php?f=16&t=10811

Thank you, however, the primary question was the proper selection of precision for backtesting. If orders are based on open/close do I need to user the Magnifier?

On another note, what is the purpose of having something in backtesting if it will not work in real trading. In this case is it a limitation in the strategy tester so that it mimics something in real trading? If so, what is it mimicking?

If trading forex, since it is a 24 hour market would "sell this bar close" work virtually the same as "sell next bar open"? Of course, Friday/Sunday could be an issue.

Thank you for your help.

::
On another note, what is the purpose of having something in backtesting if it will not work in real trading. In this case is it a limitation in the strategy tester so that it mimics something in real trading? If so, what is it mimicking?
::
Thank you for your help.

Regarding the "This bar on Close", you are looking at a legacy feature.

Easylanguage was invented ~30 years ago,
before the internet was widely available,
before intraday quotes,
before daytrading,
before 24/7,
before multi-core multi-gigahertz personal computers,
before 3D optimization,
before precision exhaustive genetic backtesting,
before... a lot of things we take for granted today.

In the old days, it was a luxury being able to do backtesting on a 5 MHz CPU (that's mega, not giga) and 256K of memory.

In the old days, backtesting was only a high-level concept testing. The method provided was designed to test the largest amount of data, using the least computer resource, so that the testing can be done in the shortest possible time. ie. start the test on Friday afternoon and hopefully it will be done by Monday morning.

I hope you get the drift.

Enjoy!

Thank you, however, the primary question was the proper selection of precision for backtesting. If orders are based on open/close do I need to user the Magnifier?

On another note, what is the purpose of having something in backtesting if it will not work in real trading. In this case is it a limitation in the strategy tester so that it mimics something in real trading? If so, what is it mimicking?

If trading forex, since it is a 24 hour market would "sell this bar close" work virtually the same as "sell next bar open"? Of course, Friday/Sunday could be an issue.

Thank you for your help.

These articles will answer some of your questions:

Relevant articles in Wiki: Fundamentals
- Backtesting vs Live Trading
- Understanding Backtesting
- Why is Data Playback strategy performance different from Backtesting results?
- Intra-bar Price Movement Assumptions
viewtopic.php?f=16&t=10811

I see. "Legacy" says it all. We should do away with these confusing "legacies". I was barely born 30 years ago.

I still believe and recommend to everyone that you do some time consuming manual testing to ensure that you are not missing or misinterpreting some feature that is misleading.

Thanks TJ.