This is a quick “how-to” guide to backtesting EAs on a renko chart created as a Custom Symbol on Metatrader 5. You can generate renko charts for backtesting using the Renko Generator for Metatrader 5.
When you start the renko generator (Renko GenX) EA, you need to make sure that you use the following settings (outlined in red). All of ...
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Tick Data Suite (TDS) has been around for quite some time and although it was certainly a great tool for backtesting it was not really a “suite of tools”. It was strongly dependant on a few more utilities to get the job done.
For starters, the average tester first needed to acquire and process tick data using third-party tools such as Tick Data Downloader, TickStory, and of course the CSV2FXT converter script. TDS 1.x was essentially a special loader that performed ...
Continue Reading →This short post is a quick “how-to” guide aimed at helping you utilize TickStory Lite software to download historical tick data and perform high quality backtests on RangeBars, Renko, MedianRenko, or PoitO charts. In order to prepare the necessary data, you’ll need an MT4 terminal, TickStory, and a custom CSV2FXT script (included in all PRO versions) for the corresponding custom charting plug-in that you wish to use.
When you first download TickStory, you’ll need to configure it ...
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This is a short guide on how to properly backtest EAs on Metatrader4 using Tick Data and price based charts such as RangeBars, MedianRenko, Renko, and PointO.
One of the most common mistakes when backtesting strategies on price based charts is not understanding how these very specific charts work and thus incorrectly performing backtests, which may lead to frustration when later finding out that actual trading results are not even close to what one may expect after witnessing a flawless backtest ...
Continue Reading →The latest MT4 version 4.00 Build 574 (10 Jan 2014) introduces a lot of new features and improvements for the old MT4 platform, however, there will be certain compatibility issues with EAs and indicators written for previous builds (i.e. Build 509 back from June 24th, 2013). Users should also be aware that the location of the old “experts” folder has been moved to a new location. Previously, all MQL4 applications have been stored in subdirectories of the “<terminal_installation_folder>\experts” folder and ...
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Up till now, range bars had one major problem – charts would look different for a specific day depending on how many days of data have been loaded from history, plus there was no way of visualizing inter-session gaps (or weekend gaps in Forex) This was unacceptable by stock and indexes traders, who needed information regarding trading session gaps.
Version 2.04 of the range bars plug-in for MT4 now features a new entry in the variables ...
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The Median Renko plug-in has just been upgraded to the Ultimate Renko plug-in and is also available for Metatrader 5.
Click here to find out more about the fantastic new upgrade of the median renko plug-in for Metatrader4 and grab your free trial version.
The MT5 version is available directly from the MQL5 ...
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Today’s market is volatile and dynamic and is getting increasingly difficult to predict. In order to keep up with the constant flux in the market, you would require an effective trading platform, which has all of the tools and features which are necessary when you are involved in Forex trade.
Metatrader gives you all the features and tools that you require when you are dealing with the Forex market. MetaTrader is the most popular and most frequently used Forex trading platform ...
Continue Reading →The foreign exchange market or Forex is an open game for anyone wishing to make some money based on speculation about the worth of the world’s currencies on a daily basis. For this you would have to become a day trader, whose basic job is to buy and sell financial instruments such as stocks, derivatives, and currencies within the same day, making money on the profits and sometimes sustaining losses in the process.
Figuring out how to start learning Forex trading ...
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