Install Gnuplot. When you do so, make sure to check 'Add application directory to your PATH enviroment variable'
Now make sure your general config is right. Most likely, you want to change the Metatrader4Exe!
Then choose an EA-sourcefile with "[...]" and press "[Load EA]"
Define the lower and upper borders of all variables that should be optimised.
Variables with a Step of 0 are not optimised!
Now choose the start and end-date of the walk forward test.
Also, decide on how many months of data your EA should be optimised before trading!
Re-Optimisation is done either after X trades or after Y months (whichever comes first).
This is also how long an EA trades after each optimisation.
Now choose the symbol, timeframe and simulation method (the same values as in Metatrader4).
CAUTION: ONLY EAS THAT HAVE GOOD "OPEN PRICES ONLY" SIMULATION-RESULTS CAN BE WALK FORWARD ANALYSED IN AN ACCEPTABLE TIMESPAN!
So please make sure that your EA's "Every Tick" and "Open prices only" results match (eg: only trade on new candles).
As we cannot try ALL possible combinations of all possible variables ("Whole Parameterspace") in an acceptable timespan,
we can "lead" the optimisation towards a desired characteristic.
When an optimisation is done, all results are sorted according to THIS characteristic, and the best one is chosen for trading!
So, in the opposite to the "Optimisation Approach" (which is there to guide the optimisation), this value is there to choose and judge an EA's performance.
Now you might want to "Save config" for later usage. Then "Start Walk Forward Analysis".
I used 01.01.2000 - 01.11.2004 as dates and "Total trades" as "Optimisation Target" (Profit, for example, is most likely a bad target that leads to overfitting).
I used the "Moving Average" example-EA that is shipped with every MT4 in this example, so dont expect any good results!
Now wait! The walk forward analysis is carried out and when it is done...
... a report will be opened in your browser! Click here to see the explanation of such a report.
If you like the results, you can now trade this EA live. To do this, we have to optimise it on the "last available data".
First, "Load config". Then adjust "End date" (it should be the date of "today"). Then press "Start simple optimisation".
Then, the same optimisation procedure that we have tested within the walk forward analysis is carried out, and the resulting .set file is displayed!
Copy the whole content of the .set file!
Now create a .set file (call it however you want), wherever you want
Just copy the result of the optimisation there...
...then open Metatrader4. When you start an EA, click on the "Inputs" tab and press "Load". Then select the just saved .set file.
Congratulations! You are now trading an walk forward optimised EA! Take care to re-optimise it after X trades or Y months :)