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OmniTrader 2017 Upgrade Forums
OmniTrader Frequently Asked Questions
Strategy Wizard FAQ
Last Activity 12/15/2017 2:27 PM
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Barry Cohen

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Subject : Strategy Wizard FAQ
Posted : 8/5/2008 7:08 PM
Post #15090

1. How do I open Strategy Wizard?

Click Tools -> Strategy Wizard.

2. What blocks in the strategy can I run Strategy Wizard on?

Strategy Wizard works with the Systems, Performance, Filter, Confirm, Orders, Vote, & Trade Plan blocks.

3. Why does the Exhaustive search method take such a long time to complete?

The Exhaustive Search Method runs a test over all of the possible combinations of components & parameters and provides you with details on the results of each & every test. Essentially, every permutation is running a To Do List analysis on all the symbols in the active Focus List. It is necessary to consider the following factors:

• Permutation Count
• Processor Speed
• Number of Symbols in the List
• Test Settings in the Profile
• Strategy Configuration

4. Why does the Fast search method take such a long time to complete?

There is an option for the Fast search method to "Stop after 10,000 iterations." or "Stop Manually". So no matter what it will not stop until it reaches 10,000 iterations or until it is stopped manually. Also the same factors listed in #3 are also considered.

5. What is the difference between Fast and Exhaustive Search?

Exhaustive search works by trying EVERY possibility of the input variables. So, if you vary 3 things with 10 values each, there are 10 to the 3rd power possibilities, requiring 1,000 runs of the Focus List. Clearly, we want a faster method.

Fast Search works by sampling the "search space" meaning it attempts several random combinations of values & measures the results. Then, it looks at where the best outcome was (most profit, highest hit rate, whatever Strategy Wizard is set to improve) and starts searching again in the area of those values.

So, it might run the Focus List 10 times, then another 10 times around the best answer, and then another 10 times around the best answer from the last run. So, this process has the potential of reducing our 1,000 runs down to something like 30. Clearly, 30 takes a lot less time than 1,000. The only negative to Fast Search is it may miss the optimal answer.
As an example, say you have an experiment that would yield a million permutations. The Exhaustive method would not stop until it finished calculating all of them or until you stopped it manually. The Fast method is going to run 25 iterations randomly. Then it will take the top 20% of those to use to help figure out the next 25 iterations. And then another 25 iterations on that top 20%, & so on. It will keep learning from its past iterations going forward. And you can stop it manually when you feel that results meet what you are looking for.

So the Exhaustive method may finish a lot sooner on smaller sets of permutations, the Fast method is much better for finding results quicker when a large number of permutations are being processed.

6. Why are my iterations all showing the same exact results in my output?

There are a couple reasons why this may occur.

- If you are trying to run an experiment on a system, indicator, or stop that is NOT enabled in the strategy.

- If you are trying to run an experiment on an optimized system, indicator, or stop in the strategy. Parameters in strategy blocks have the columns: Min, Max, Incr, Default. If the system, indicator, or stop is set to optimize in the strategy, then Min, Max, & Incr will be used to determine the values. If they are not set to optimize, then only the Default column value is used. Strategy Wizard always looks at the Default column value, but if it is optimized in the strategy, Strategy Wizard’s parameter changes will have no effect.

7. My Fast search method shows duplicate results every X iterations. Why is this?

This is because the Fast search method will continue to run even after it has completed all possible combinations. Say you run an experiment on the Exhaustive method with parameters: Min - 10, Max - 50, & Incr - 10. This will run 5 iterations & finish. Run that same experiment on the Fast search though. As we discussed in #4, there is an option for the Fast search method to "Stop after 10,000 iterations." It will not stop until it reaches 10,000 iterations even if results are being duplicated every X iterations.

8. Why is Strategy Wizard disabled in realtime profiles?

Since realtime profiles continuously download data, results change. All permutations in SW should use the same data set. To use SW on intraday timeframes, you may use a Test Profile (File -> New) which allows intraday timeframes. Like EOD profiles, the Test Profile uses the ToDo List to download new data, so SW will not continuously get new data during test runs.

9. I’m having a problem with my Strategy Wizard. What should I do?

The first thing you should do is make sure you are on the latest update. Run the updater to OmniTrader. If you still have the issue afterwards, please contact our support department or post in the forum for help.

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Barry Cohen

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Posts: 5244

Joined: 1/19/2004

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Subject : RE: Strategy Wizard FAQ
Posted : 10/24/2008 5:34 PM
Post #15570 - In reply to #15090

Enhancements added in OT2008 Pre-Release 4A:

- Changed the Fast Search option wording from Stop Manually to Stop Automatic.

- If Fast Search is set to Stop Automatic, then the wizard will now stop when the iteration number is equal to the maximum number of permutations. Previously the wizard would never stop unless the user stopped it. Be aware that some of the iterations may be repeated.

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