It appears this equity curve includes the equity produced during the initial optimization period and perhaps only the final test period. Am I correct?
This is not correct. After training a walk-forward script, clicking TEST begins the simulation period at the end of the first optimization cycle. The equity curve is the out of sample periods of each optimization cycle stitched together.
You can run into trouble if you change the StartDate and/or EndDate parameters between training a WFO and testing it. These parameters set up the beginning and end of the simulation period, and are used to calculate the break points between your WFO cycles. If you change those parameters, you need to re-train your walk forward.
