> ## Documentation Index
> Fetch the complete documentation index at: https://docs.everstrike.io/llms.txt
> Use this file to discover all available pages before exploring further.

# Fast Estimates: Backtest a Strategy Prompt on Historical Candles

> A Fast Estimate translates a strategy prompt into deterministic rules and runs them on historical candles. Learn how to run one, its settings and its limits.

A **Fast Estimate** is a quick backtest of a strategy prompt. Everstrike translates the prompt into deterministic rules, then runs them on historical candles with fees and slippage.

> [!NOTE]
>
> A Fast Estimate is a candle-based approximation, not a replay of live AI decisions. A live strategy is the AI reading your prompt with more context, so results can differ.

## Where to run one

* From the [Fast Estimates](https://app.everstrike.io/app/fast-estimates) workspace: **New Fast Estimate**.
* From a strategy: **Fast Estimate** in its menu.
* From the [Strategy Builder](https://docs.everstrike.io/ai/strategy-builder.md) (**Full backtest**) or the [Strategy Lab](https://docs.everstrike.io/ai/strategy-lab.md).
* From the [Assistant](https://docs.everstrike.io/ai/assistant.md), which can prepare and run one for you.

## Running one

**1. Enter the prompt and settings**

The strategy prompt, the **market**, the **candle interval** (1 minute to 1 day), the start date, the **starting balance**, the **default trade notional**, the **maximum leverage**, **fee** and **slippage** in basis points, and whether to close any open position on the final candle.

**2. Translate**

Choose **Translate strategy**. This usually takes 10-60 seconds; keep the window open.

**3. Review the translation**

Check the **prompt coverage**, the **interpretation** and the **generated rules**, with their **assumptions** and **limitations**. If coverage is low, you may be offered a **suggested higher-coverage prompt**: choose **Use revised prompt** to adopt it, or **Edit prompt**.

**4. Run**

Choose **Confirm & run**. The estimate loads the candles and simulates the portfolio.

Completed estimates are saved automatically.

## Limits

* **Extra data sources** are replayed from their daily history, so a backtest sees one value per day, while a live strategy sees the latest value at each evaluation.
* **Long periods** are capped at a maximum number of candles. If the period you choose exceeds it, the estimate uses the most recent candles and says so.
* **Data quality** notes appear with the results if candles had to be corrected or dropped.

## Cost

Fast Estimates run in your browser and don't use AI credits.

See [Reading a Fast Estimate](https://docs.everstrike.io/ai/reading-fast-estimates.md) and [Comparing Fast Estimates](https://docs.everstrike.io/ai/comparing-fast-estimates.md).


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