The backtesting is not unreliable if you know what you are doing, you need to avoid the pitfalls of MT4, of which there are many. The most important one is to not open trades based on the ask/bid of the current bar, as this is the one that is currently being interpolated and also to make sure you open trades on the open or close of the current bar, also to avoid any interpolated values.
What is this interpolation? basically if you have 1min data, Metatrader fills the gaps in between the minutes using some fancy fractal thingy, and this obvously might have little to do with what the price actually did. This is why we need tick data, then Metatrader has no need to interpolate anything. Obvously as you use bigger timeframes this becomes less of an issue, but then you have to be careful not to over optimize.
Any stratergy that has a 90% hit rate or super massive profit has either been over optimized to the dataset or is opening multiple trades based on interpolated tick values in the current bar.
Also you need to learn to use the Alphari data, the data that comes with Metatrader is rubbish.
What is this interpolation? basically if you have 1min data, Metatrader fills the gaps in between the minutes using some fancy fractal thingy, and this obvously might have little to do with what the price actually did. This is why we need tick data, then Metatrader has no need to interpolate anything. Obvously as you use bigger timeframes this becomes less of an issue, but then you have to be careful not to over optimize.
Any stratergy that has a 90% hit rate or super massive profit has either been over optimized to the dataset or is opening multiple trades based on interpolated tick values in the current bar.
Also you need to learn to use the Alphari data, the data that comes with Metatrader is rubbish.
The breaking of a wave cannot explain the whole sea.