How to find the best set file for an expert advisor

Finding the best set file for an Expert Advisor (EA) involves a process of optimization and testing.

Here are some steps you can follow to find an optimized set file for your EA:

Understand the EA: Familiarize yourself with the parameters and settings of the EA. Understand how each parameter affects the trading behavior and performance of the EA.
Define Optimization Goals: Determine your optimization goals, such as maximizing profit, minimizing drawdown, or achieving a specific risk-reward ratio. Clarify the metrics and criteria you will use to evaluate the performance of different set files.
Select Optimization Parameters: Identify the parameters that can be optimized within the EA. These could include indicators, timeframes, lot sizes, stop-loss and take-profit levels, trailing stops, or any other relevant parameters.
Set Optimization Range: Define the range and increments for each parameter you wish to optimize. Consider both wide ranges to explore different possibilities and narrower ranges to fine-tune specific parameters.
Choose Optimization Method: Decide on the optimization method you will use, such as brute-force optimization, genetic algorithms, or specialized optimization tools available in your trading platform or third-party software.
Run Optimization: Use your chosen optimization method to test different combinations of parameters within the defined ranges. The optimization process will generate a set of results with different performance metrics for each set file tested.
Evaluate Results: Analyze the results of the optimization process based on your defined goals and criteria. Consider metrics such as profit, drawdown, win rate, risk-reward ratio, and other relevant performance indicators. Identify the set files that meet your optimization goals.
Perform Walk-Forward Testing: After identifying potential set files, conduct walk-forward testing. This involves testing the selected set files on out-of-sample data to ensure their performance is robust and not over-optimized for a specific period.
Validate Results: Validate the performance of the selected set files by testing them on different market conditions and time periods. This helps assess their consistency and adaptability to changing market dynamics.
Monitor and Adjust: Once you have chosen a set file, monitor its performance in real trading conditions. Regularly evaluate and adjust the parameters based on market conditions and changes in your optimization goals.

Remember that optimization results are based on historical data and may not guarantee future performance. Keep risk management practices in place and be cautious about over-optimizing an EA for specific market conditions.

Additionally, it's important to consider the limitations of optimization, such as data quality, parameter interactions, and the impact of transaction costs. Be mindful of these factors when interpreting and applying the results of the optimization process.

If you are unsure about the optimization process or lack experience, consider consulting with experienced traders or utilizing the services of professionals who specialize in EA optimization and backtesting.